First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Preferred
FPECX Fund  USD 19.94  0.03  0.15%   
The current 90-days correlation between First Trust Preferred and Goldman Sachs Real is 0.16 (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

Significant diversification

The correlation between First Trust Preferred and DJI is 0.05 (i.e., Significant 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 main economic indicators.

Moving together with First Mutual Fund

  0.94FTMAX Franklin TempletonPairCorr
  0.98FTMCX First Trust MultiPairCorr
  0.98FDHIX First Trust ShortPairCorr
  0.98FDHCX First Trust ShortPairCorr
  0.98FDHAX First Trust ShortPairCorr
  0.96VARBX Vivaldi Merger ArbitragePairCorr
  0.95VARCX First Trust MergerPairCorr
  0.96VARAX Vivaldi Merger ArbitragePairCorr
  0.76FOVIX First Trust/confluencePairCorr
  0.75FOVCX First Trust/confluencePairCorr
  0.75FOVAX First Trust/confluencePairCorr
  1.0FPEIX First Trust PreferredPairCorr
  1.0FPEFX First Trust PreferredPairCorr
  0.99FPEAX First Trust PreferredPairCorr
  1.0FPERX First Trust PreferredPairCorr
  1.0CPXIX Cohen Steers PrfrdPairCorr
  0.98CPXAX Cohen Steers PreferdPairCorr
  0.98CPXCX Cohen Steers PrefrdPairCorr
  1.0CPRRX Cohen Steers PreferredPairCorr
  1.0CPXZX Cohen Steers PreferredPairCorr
  1.0CPXFX Cohen Steers PreferredPairCorr
  0.99PRFCX Preferred SecuritiesPairCorr
  1.0PPSIX Preferred SecuritiesPairCorr
  1.0PPSAX Preferred SecuritiesPairCorr
  0.9PDI Pimco Dynamic IncomePairCorr
  0.96FTCAX Templeton Strained BondPairCorr
  0.92GQGPX Gqg Partners EmergPairCorr
  0.95CLSUX Clearbridge SustainabilityPairCorr
  0.95FHKAX Fidelity China RegionPairCorr
  0.9VSCWX Voya Securitized CreditPairCorr

Moving against First Mutual Fund

  0.9USPSX Profunds UltrashortPairCorr
  0.9USPIX Profunds UltrashortPairCorr
  0.9UIPIX Ultrashort Mid CapPairCorr
  0.85TCTGX Transamerica CleartrackPairCorr
  0.85TCTJX Transamerica CleartrackPairCorr
  0.84TDKTX Cleartrack 2015 ClassPairCorr
  0.84TCSUX Cleartrack 2020 ClassPairCorr

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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