First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Multi Strategy
FTMCX Fund   24.54  0.04  0.16%   
The current 90-days correlation between First Trust Multi and Fbanjx is 0.2 (i.e., Modest 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

Almost no diversification

The correlation between First Trust Multi Strategy and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Multi Strategy 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 Multi Strategy. 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 services.

Moving together with First Mutual Fund

  0.65CWAIX First Trust ManagedPairCorr
  0.96FTMAX Franklin TempletonPairCorr
  0.86FDHIX First Trust ShortPairCorr
  0.85FDHCX First Trust ShortPairCorr
  0.87FDHAX First Trust ShortPairCorr
  0.88VARBX Vivaldi Merger ArbitragePairCorr
  0.87VARCX First Trust MergerPairCorr
  0.87VARAX Vivaldi Merger ArbitragePairCorr
  0.85FOVIX First Trust/confluencePairCorr
  0.87FOVCX First Trust/confluencePairCorr
  0.93FPEIX First Trust PreferredPairCorr
  0.93FPEFX First Trust PreferredPairCorr
  0.9FPECX First Trust PreferredPairCorr
  0.9FPEAX First Trust PreferredPairCorr
  0.92FPERX First Trust PreferredPairCorr
  0.83BKMBX Blackrock SystematicPairCorr
  0.88BXMYX Blackstone AlternativePairCorr
  0.95GARTX Goldman Sachs AbsolutePairCorr
  0.95GCRTX Goldman Sachs AbsolutePairCorr
  0.88BXMIX Blackstone AlternativePairCorr
  0.87BXMDX Blackstone AlternativePairCorr
  0.77MGGYX Mirova Global GreenPairCorr
  0.9HLDTX Hartford EmergingPairCorr
  0.63BFGUX Baron Focused GrowthPairCorr
  0.89RACTX American Funds 2020PairCorr
  0.92SSCGX Simt Small 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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