First Trust Correlations

VARCX Fund

10.45 0.01 0.1%

The current 90-days correlation between First Trust Merger and Fidelity Sai Inflationfocused is 0.12 (i.e., Average 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

Good diversification

The correlation between First Trust Merger and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Merger and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in First Trust Merger. 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 unemployment.

Moving together with First Mutual Fund

0.88	FTMAX	Franklin Templeton	Pair Corr
0.85	FTMCX	First Trust Multi	Pair Corr
0.8	FDHIX	First Trust Short	Pair Corr
0.81	FDHCX	First Trust Short	Pair Corr
0.82	FDHAX	First Trust Short	Pair Corr
0.97	VARBX	Vivaldi Merger Arbitrage	Pair Corr
1.0	VARAX	Vivaldi Merger Arbitrage	Pair Corr
0.68	FOVAX	First Trust/confluence	Pair Corr
0.65	FPEIX	First Trust Preferred	Pair Corr
0.64	FPEFX	First Trust Preferred	Pair Corr
0.62	FPEAX	First Trust Preferred	Pair Corr
0.93	BCLPX	Blckrk Lc Cr	Pair Corr
0.93	BALPX	Blckrk Lc Cr	Pair Corr
0.95	BILPX	Blkrk Lc Cr	Pair Corr
0.84	MERFX	Merger Fund	Pair Corr
0.86	MERIX	Merger Fund	Pair Corr
0.84	HMECX	Highland Merger Arbitrage	Pair Corr
0.85	HMEAX	Highland Merger Arbitrage	Pair Corr
0.78	JNSPX	Jpmorgan Smartretirement	Pair Corr
0.68	FQBIX	New Hampshire Higher	Pair Corr
0.78	SIHAX	Guggenheim High Yield	Pair Corr
0.62	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	SCGPX	Strategic Asset Mana	Pair Corr

Moving against First Mutual Fund

0.48	FOVCX	First Trustconfluence	Pair Corr
0.4	FOVIX	First Trustconfluence	Pair Corr
0.91	CESGX	Coho Relative Value	Pair Corr
0.76	UIPIX	Ultrashort Mid Cap	Pair Corr
0.61	TCSUX	Cleartrack 2020 Class	Pair Corr
0.6	TCTGX	Transamerica Cleartrack	Pair Corr
0.59	TDKTX	Cleartrack 2015 Class	Pair Corr
0.59	TCTJX	Transamerica Cleartrack	Pair Corr
0.36	PDI	Pimco Dynamic Income	Pair Corr
0.33	USPSX	Profunds Ultrashort	Pair Corr
0.32	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	FIFGX	AUNYX	MFTFX	ABNOX	AUNOX	RYIFX
FIFGX		0.13	-0.17	-0.42	0.16	-0.14	FIFGX
AUNYX	0.13		0.36	0.21	0.97	0.3	AUNYX
MFTFX	-0.17	0.36		0.43	0.31	0.79	MFTFX
ABNOX	-0.42	0.21	0.43		0.16	0.29	ABNOX
AUNOX	0.16	0.97	0.31	0.16		0.24	AUNOX
RYIFX	-0.14	0.3	0.79	0.29	0.24		RYIFX
	FIFGX	AUNYX	MFTFX	ABNOX	AUNOX	RYIFX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AUNOX	+ 0.97	AUNYX
RYIFX	+ 0.79	MFTFX
ABNOX	+ 0.43	MFTFX
MFTFX	+ 0.36	AUNYX
AUNOX	+ 0.31	MFTFX
RYIFX	+ 0.3	AUNYX

High negative correlations

ABNOX	- 0.42	FIFGX
MFTFX	- 0.17	FIFGX
RYIFX	- 0.14	FIFGX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FIFGX	0.81	(0.01)	(0.06)	0.04	0.97	(0.84)	1.58	(1.59)	3.67
AUNYX	0.07	0.00	(0.58)	0.08	0.00	(0.12)	0.18	(0.18)	0.46
MFTFX	1.17	0.14	0.05	0.83	1.26	(1.37)	2.76	(2.24)	6.84
ABNOX	0.07	(0.01)	(0.63)	(1.38)	0.05	(0.11)	0.10	(0.10)	0.49
AUNOX	0.08	0.00	(0.64)	0.04	0.00	(0.12)	0.19	(0.09)	0.37
RYIFX	0.61	(0.01)	(0.04)	0.05	0.80	(0.61)	1.20	(1.24)	4.43

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