First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Preferred
FPEFX Fund  USD 20.06  0.03  0.15%   
The current 90-days correlation between First Trust Preferred and Oppenheimer International Diversified is -0.08 (i.e., Good 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 0.03 (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 census.

Moving together with First Mutual Fund

  0.76CWAIX First Trust ManagedPairCorr
  0.95FTMAX Franklin TempletonPairCorr
  0.98FTMCX First Trust MultiPairCorr
  0.98FDHIX First Trust ShortPairCorr
  0.98FDHCX First Trust ShortPairCorr
  0.98FDHAX First Trust ShortPairCorr
  0.97VARBX Vivaldi Merger ArbitragePairCorr
  0.96VARCX First Trust MergerPairCorr
  0.96VARAX Vivaldi Merger ArbitragePairCorr
  0.76FOVIX First Trust/confluencePairCorr
  0.75FOVCX First Trust/confluencePairCorr
  0.76FOVAX First Trust/confluencePairCorr
  1.0FPEIX First Trust PreferredPairCorr
  1.0FPECX First Trust PreferredPairCorr
  1.0FPEAX First Trust PreferredPairCorr
  1.0FPERX First Trust PreferredPairCorr
  1.0CPXIX Cohen Steers PrfrdPairCorr
  0.99CPXAX Cohen Steers PreferdPairCorr
  0.99CPXCX 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
  0.99PPSAX Preferred SecuritiesPairCorr
  0.71GAAKX Gmo Alternative AlloPairCorr
  0.7GAAGX Gmo Alternative AlloPairCorr
  0.62GPBFX Gmo E PlusPairCorr
  0.98FMSDX Fidelity Advisor MultiPairCorr
  0.86KNGLX Cboe Vest SpPairCorr
  0.94QTSSX Quantified TacticalPairCorr
  0.96VWINX Vanguard Wellesley IncomePairCorr
  0.95XHYIX Western Asset HighPairCorr
  0.96OAAIX Oppenheimer AggrssvPairCorr

Moving against First Mutual Fund

  0.5GPMFX Guidepath Managed FuturesPairCorr
  0.37PQTAX Pimco Trends ManagedPairCorr
  0.36PQTNX Pimco Trends ManagedPairCorr
  0.35PQTIX Aa Pimco TrPairCorr

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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