First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Merger
VARCX Fund   10.46  0.02  0.19%   
The current 90-days correlation between First Trust Merger and T Rowe Price is -0.05 (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

Poor diversification

The correlation between First Trust Merger and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Merger and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in First Trust Merger. 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

  0.92BCLPX Blckrk Lc CrPairCorr
  0.92BALPX Blckrk Lc CrPairCorr
  0.92BILPX Blkrk Lc CrPairCorr
  0.9MERIX Merger FundPairCorr
  0.85MERFX Merger FundPairCorr
  1.0VARAX Vivaldi Merger ArbitragePairCorr
  1.0VARBX Vivaldi Merger ArbitragePairCorr
  0.87HMECX Highland Merger ArbitragePairCorr
  0.88HMEAX Highland Merger ArbitragePairCorr
  0.75VTSAX Vanguard Total StockPairCorr
  0.7VFIAX Vanguard 500 IndexPairCorr
  0.72VTSMX Vanguard Total StockPairCorr
  0.72VSMPX Vanguard Total StockPairCorr
  0.72VITSX Vanguard Total StockPairCorr
  0.75VSTSX Vanguard Total StockPairCorr
  0.77VTIAX Vanguard Total InterPairCorr
  0.71VFINX Vanguard 500 IndexPairCorr
  0.73VFFSX Vanguard 500 IndexPairCorr
  0.86CAGEX Calamos Global EquityPairCorr
  0.61WARAX Wells Fargo AdvantagePairCorr
  0.81AWTAX Allianzgi Global WaterPairCorr
  0.65PCVRX Putnam Vertible SecuPairCorr
  0.82IPFIX Victory IncorePairCorr
  0.85ASDAX Aamhimco Short DurationPairCorr
  0.74DRSVX Foundry Partners FunPairCorr
  0.76USWGX World GrowthPairCorr
  0.75AABTX American Funds 2015PairCorr
  0.87PYCHX Payden RegalPairCorr
  0.76JSIZX Jpmorgan SmartretirementPairCorr
  0.8SAMHX Ridgeworth Seix HighPairCorr
  0.73WSMDX William Blair SmallPairCorr
  0.78AAOTX American Funds 2065PairCorr
  0.92QISCX Federated Mdt SmallPairCorr
  0.73HFASX Janus Henderson StrategicPairCorr

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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