First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Preferred
FPECX Fund  USD 20.20  0.02  0.1%   
The current 90-days correlation between First Trust Preferred and Rationalpier 88 Convertible is 0.19 (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 good diversification

The correlation between First Trust Preferred and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Preferred 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 Preferred. 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 private.

Moving together with First Mutual Fund

  0.97FTMAX Franklin TempletonPairCorr
  0.97FTMCX First Trust MultiPairCorr
  0.98FDHIX First Trust ShortPairCorr
  0.98FDHCX First Trust ShortPairCorr
  0.98FDHAX First Trust ShortPairCorr
  0.78VARBX Vivaldi Merger ArbitragePairCorr
  0.73VARAX Vivaldi Merger ArbitragePairCorr
  0.64FOVIX First Trust/confluencePairCorr
  0.62FOVCX First TrustconfluencePairCorr
  0.64FOVAX First Trust/confluencePairCorr
  0.99FPEFX First Trust PreferredPairCorr
  1.0FPEAX First Trust PreferredPairCorr
  0.99FPERX First Trust PreferredPairCorr
  0.99CPXIX Cohen Steers PrfrdPairCorr
  0.99CPXAX Cohen Steers PreferdPairCorr
  0.99CPXCX Cohen Steers PrefrdPairCorr
  0.99CPRRX Cohen Steers PreferredPairCorr
  0.99CPXZX Cohen Steers PreferredPairCorr
  0.99CPXFX Cohen Steers PreferredPairCorr
  0.99PRFCX Preferred SecuritiesPairCorr
  0.99PPSIX Preferred SecuritiesPairCorr
  0.99PPSAX Preferred SecuritiesPairCorr
  0.99PPSJX Preferred SecuritiesPairCorr
  0.98PDI Pimco Dynamic IncomePairCorr
  0.98FTCAX Templeton Strained BondPairCorr
  0.95JRODX J Hancock IiPairCorr
  0.79TSORX Tiaa Cref SocialPairCorr
  0.95BKIPX Blackrock Short TermPairCorr
  0.92VSRDX Valic Company IPairCorr
  0.96BAICX Blackrock Incm PtfPairCorr

Moving against First Mutual Fund

  0.93USPSX Profunds UltrashortPairCorr
  0.93USPIX Profunds UltrashortPairCorr
  0.85TCTGX Transamerica CleartrackPairCorr
  0.85TDKTX Cleartrack 2015 ClassPairCorr
  0.85TCTJX Transamerica CleartrackPairCorr
  0.84TCSUX Cleartrack 2020 ClassPairCorr
  0.83UIPIX Ultrashort Mid CapPairCorr

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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