First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Short
FDHAX Fund  USD 18.01  0.02  0.11%   
The current 90-days correlation between First Trust Short and Goldman Sachs Emerging is 0.7 (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

Very poor diversification

The correlation between First Trust Short and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Short 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 Short. 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 nation.

Moving together with First Mutual Fund

  0.9FTMAX Franklin TempletonPairCorr
  0.87FTMCX First Trust MultiPairCorr
  0.97FDHIX First Trust ShortPairCorr
  1.0FDHCX First Trust ShortPairCorr
  0.84VARBX Vivaldi Merger ArbitragePairCorr
  0.85VARCX First Trust MergerPairCorr
  0.84VARAX Vivaldi Merger ArbitragePairCorr
  0.89FOVIX First Trust/confluencePairCorr
  0.85FOVCX First Trust/confluencePairCorr
  0.89FOVAX First Trust/confluencePairCorr
  0.88FPEIX First Trust PreferredPairCorr
  0.88FPEFX First Trust PreferredPairCorr
  0.85FPECX First Trust PreferredPairCorr
  0.87FPEAX First Trust PreferredPairCorr
  0.86FPERX First Trust PreferredPairCorr
  0.85OOSYX Oppenheimer SeniorPairCorr
  0.88OOSIX Oppenheimer SeniorPairCorr
  0.96LFRIX Floating RatePairCorr
  0.97LARCX Floating RatePairCorr
  0.96LFRRX Lord Abbett InvPairCorr
  0.96LFRFX Floating RatePairCorr
  0.96LRRRX Floating RatePairCorr
  0.96LRRTX Floating RatePairCorr
  0.96LRRVX Floating RatePairCorr
  0.96LRRKX Floating RatePairCorr
  0.71SMPIX Semiconductor UltrasectorPairCorr
  0.76SMPSX Semiconductor UltrasectorPairCorr
  0.8PMPIX Precious Metals UltrPairCorr
  0.8PMPSX Precious Metals UltrPairCorr
  0.85FGADX Franklin Gold PreciousPairCorr
  0.85FGPMX Franklin Gold AndPairCorr
  0.83OCMGX Ocm Mutual FundPairCorr
  0.84INIYX International InvestorsPairCorr
  0.77FKRCX Franklin Gold PreciousPairCorr
  0.85OCMAX Ocm Mutual FundPairCorr
  0.7IRFZX Cohen Steers IntlPairCorr
  0.83SSIJX American Beacon SsiPairCorr
  0.83BZEAX Ohio Variable CollegePairCorr

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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