First Trust Correlations

FDHCX Fund

USD 18.00 0.02 0.11%

The current 90-days correlation between First Trust Short and Alpsalerian Energy Infrastructure is 0.13 (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

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 state and metro area employment, hours, and earnings.

Moving together with First Mutual Fund

0.88	FTMCX	First Trust Multi	Pair Corr
1.0	FDHIX	First Trust Short	Pair Corr
1.0	FDHAX	First Trust Short	Pair Corr
0.85	VARBX	Vivaldi Merger Arbitrage	Pair Corr
0.84	VARCX	First Trust Merger	Pair Corr
0.84	VARAX	Vivaldi Merger Arbitrage	Pair Corr
0.83	FOVCX	First Trust/confluence	Pair Corr
0.88	FOVAX	First Trust/confluence	Pair Corr
0.87	FPEIX	First Trust Preferred	Pair Corr
0.84	FPECX	First Trust Preferred	Pair Corr
0.86	FPEAX	First Trust Preferred	Pair Corr
0.86	FPERX	First Trust Preferred	Pair Corr
0.83	OOSYX	Oppenheimer Senior	Pair Corr
0.88	OOSIX	Oppenheimer Senior	Pair Corr
0.95	LFRIX	Floating Rate	Pair Corr
0.96	LARCX	Floating Rate	Pair Corr
0.95	LFRRX	Lord Abbett Inv	Pair Corr
0.95	LFRFX	Floating Rate	Pair Corr
0.95	LRRRX	Floating Rate	Pair Corr
0.95	LRRTX	Floating Rate	Pair Corr
0.95	LRRVX	Floating Rate	Pair Corr
0.96	LRRKX	Floating Rate	Pair Corr
0.64	KF	Korea Closed	Pair Corr
0.76	FKRCX	Franklin Gold Precious	Pair Corr
0.82	RSNRX	Victory Global Natural	Pair Corr
0.77	SGGDX	First Eagle Gold	Pair Corr
0.8	EKWAX	Wells Fargo Advantage	Pair Corr
0.82	PSPFX	Global Resources	Pair Corr
0.79	OPGSX	Oppenheimer Gold Spec	Pair Corr
0.79	GOLDX	Gabelli Gold	Pair Corr
0.78	FSAGX	Gold Portfolio Gold	Pair Corr
0.83	UNWPX	World Precious Minerals	Pair Corr
0.84	DNLYX	Dreyfus Active Midcap	Pair Corr
0.79	BASMX	Blackrock Total Stock	Pair Corr
0.82	PAAKX	Putnam Retirement	Pair Corr
0.83	RALAX	Growth Strategy	Pair Corr
0.88	TRVLX	T Rowe Price	Pair Corr

Related Correlations Analysis

	XEMOX	FRNRX	ICBAX	SNPIX	ALEFX
XEMOX		0.87	0.77	-0.89	0.81	XEMOX
FRNRX	0.87		0.92	-0.92	0.85	FRNRX
ICBAX	0.77	0.92		-0.77	0.92	ICBAX
SNPIX	-0.89	-0.92	-0.77		-0.7	SNPIX
ALEFX	0.81	0.85	0.92	-0.7		ALEFX
	XEMOX	FRNRX	ICBAX	SNPIX	ALEFX

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

ICBAX	+ 0.92	FRNRX
ALEFX	+ 0.92	ICBAX
FRNRX	+ 0.87	XEMOX
ALEFX	+ 0.85	FRNRX
ALEFX	+ 0.81	XEMOX
ICBAX	+ 0.77	XEMOX

High negative correlations

SNPIX	- 0.92	FRNRX
SNPIX	- 0.89	XEMOX
SNPIX	- 0.77	ICBAX
ALEFX	- 0.7	SNPIX

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
XEMOX	0.69	0.15	0.14	1.64	0.63	(0.79)	1.51	(1.21)	3.85
FRNRX	0.85	0.27	0.20	0.42	0.96	(0.97)	1.75	(1.73)	4.29
ICBAX	1.10	0.21	0.19	0.20	0.85	(1.31)	2.35	(1.85)	11.68
SNPIX	0.96	(0.20)	0.00	0.68	0.00	0.00	1.49	(2.18)	6.18
ALEFX	0.96	0.40	0.43	0.81	0.14	(1.21)	1.41	(1.06)	19.46

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC