Ft 7934: Correlations

FZNQEX Fund

578.58 0.09 0.02%

The current 90-days correlation between Ft 7934 Corporate and Goldman Sachs Technology is 0.21 (i.e., Modest diversification). The correlation of Ft 7934: 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.

Ft 7934: Correlation With Market

Average diversification

The correlation between Ft 7934 Corporate and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ft 7934 Corporate 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 Ft 7934 Corporate. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with FZNQEX Fund

0.78	VGTSX	Vanguard Total Inter	Pair Corr
0.78	VTIAX	Vanguard Total Inter	Pair Corr
0.7	NHS	Neuberger Berman High	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.7	CAT	Caterpillar Earnings Call Tomorrow	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.79	VZ	Verizon Communications	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.78	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against FZNQEX Fund

0.51

Boeing

Pair Corr

Related Correlations Analysis

	GISTX	TOWTX	JGLTX	FIKHX	USTCX	VITAX	CGTUX
GISTX		0.67	0.93	0.45	0.94	0.8	0.83	GISTX
TOWTX	0.67		0.6	0.11	0.59	0.37	0.49	TOWTX
JGLTX	0.93	0.6		0.47	0.95	0.89	0.93	JGLTX
FIKHX	0.45	0.11	0.47		0.37	0.53	0.37	FIKHX
USTCX	0.94	0.59	0.95	0.37		0.9	0.92	USTCX
VITAX	0.8	0.37	0.89	0.53	0.9		0.95	VITAX
CGTUX	0.83	0.49	0.93	0.37	0.92	0.95		CGTUX
	GISTX	TOWTX	JGLTX	FIKHX	USTCX	VITAX	CGTUX

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Risk-Adjusted Indicators

There is a big difference between FZNQEX Fund performing well and Ft 7934: 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 Ft 7934:'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GISTX	1.11	0.08	0.04	0.16	1.52	(1.14)	2.26	(2.52)	7.34
TOWTX	0.64	0.05	0.02	0.17	0.97	(0.71)	1.27	(1.21)	5.74
JGLTX	0.92	0.03	0.01	0.11	1.36	(0.94)	1.98	(2.61)	6.66
FIKHX	1.26	(0.10)	0.00	(0.06)	0.00	0.00	2.12	(2.55)	9.58
USTCX	1.18	0.10	0.05	0.18	1.43	(1.25)	2.71	(2.14)	7.48
VITAX	1.06	0.03	0.01	0.10	1.47	(1.07)	2.04	(2.19)	8.39
CGTUX	1.08	0.04	0.01	0.12	1.47	(1.16)	2.02	(2.28)	8.23

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