First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Managed
CWAIX Fund  USD 19.90  0.00  0.00%   
The current 90-days correlation between First Trust Managed and Centerstone Investors Fund is 0.53 (i.e., Very weak 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

Very weak diversification

The correlation between First Trust Managed and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Managed and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in First Trust Managed. 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

  0.96VWITX Vanguard Intermediate-terPairCorr
  0.8VWIUX Vanguard Intermediate-terPairCorr
  0.98AFTEX Tax Exempt BondPairCorr
  0.98AFTFX Tax Exempt BondPairCorr
  0.97TEBCX Tax Exempt BondPairCorr
  0.98TEAFX Tax Exempt BondPairCorr
  0.98TFEBX Tax Exempt BondPairCorr
  0.94FLTMX Fidelity IntermediatePairCorr
  0.94MDNLX Blackrock NationalPairCorr
  0.93MFNLX Blackrock Natl MuniPairCorr
  0.71HLDIX Hartford EmergingPairCorr
  0.7HLDRX Hartford EmergingPairCorr
  0.71HLDAX Hartford EmergingPairCorr
  0.71HLDCX Hartford EmergingPairCorr
  0.71HLDTX Hartford EmergingPairCorr
  0.69HERSX Hartford Emerging MarketsPairCorr
  0.66AISTX Limited DurationPairCorr
  0.74RRSVX Rbc Small CapPairCorr
  0.65BAC Bank of AmericaPairCorr
  0.64AXP American ExpressPairCorr
  0.64CSCO Cisco SystemsPairCorr
  0.61DIS Walt DisneyPairCorr
  0.62IBM International BusinessPairCorr
  0.63MMM 3M CompanyPairCorr
  0.77PFE Pfizer IncPairCorr
  0.67T ATT IncPairCorr

Related Correlations Analysis

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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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