First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Preferred
FPEIX Fund  USD 20.61  0.01  0.05%   
The current 90-days correlation between First Trust Preferred and Ab High Income is 0.75 (i.e., Poor diversification). The correlation of First Trust is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Weak diversification

The correlation between First Trust Preferred and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Preferred and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Preferred. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Mutual Fund

  0.89FTMAX Franklin TempletonPairCorr
  0.89FTMCX First Trust MultiPairCorr
  0.9FDHIX First Trust ShortPairCorr
  0.89FDHCX First Trust ShortPairCorr
  0.88FDHAX First Trust ShortPairCorr
  0.76VARBX Vivaldi Merger ArbitragePairCorr
  0.76VARCX First Trust MergerPairCorr
  0.76VARAX Vivaldi Merger ArbitragePairCorr
  0.82FOVIX First TrustconfluencePairCorr
  0.81FOVCX First TrustconfluencePairCorr
  0.84FOVAX First Trust/confluencePairCorr
  1.0FPEFX First Trust PreferredPairCorr
  0.91FPECX First Trust PreferredPairCorr
  0.93FPEAX First Trust PreferredPairCorr
  0.99FPERX First Trust PreferredPairCorr
  0.96CPXIX Cohen Steers PrfrdPairCorr
  0.94CPXAX Cohen Steers PreferdPairCorr
  0.94CPXCX Cohen Steers PrefrdPairCorr
  0.95CPRRX Cohen Steers PreferredPairCorr
  0.94CPXZX Cohen Steers PreferredPairCorr
  0.95CPXFX Cohen Steers PreferredPairCorr
  0.92NPSAX Nuveen Preferred SecPairCorr
  0.92NPSCX Nuveen Preferred SecPairCorr
  0.95PPSJX Preferred SecuritiesPairCorr
  0.64NHS Neuberger Berman HighPairCorr
  0.88SCYVX Ab Small CapPairCorr
  0.85STFAX State Street EquityPairCorr
  0.89BSPGX Ishares Sp 500PairCorr
  0.85ORDNX Oak Ridge DividendPairCorr
  0.81SRCMX California MunicipalPairCorr
  0.93SHYAX Simt High YieldPairCorr
  0.88VWSTX Vanguard Short TermPairCorr
  0.85FWCFX Fidelity WorldwidePairCorr
  0.89GGDPX Goldman Sachs InternPairCorr
  0.69VFIAX Vanguard 500 IndexPairCorr
  0.85CMMYX Columbia Amt FreePairCorr
  0.86PLMIX Pimco Emerging MarketsPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between First Mutual Fund performing well and First Trust Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze First Trust's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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