First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Managed
CWAIX Fund  USD 20.39  0.02  0.1%   
The current 90-days correlation between First Trust Managed and Calvert Conservative Allocation is 0.09 (i.e., Significant 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

Good diversification

The correlation between First Trust Managed and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Managed and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in First Trust Managed. 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 gross domestic product.

Moving together with First Mutual Fund

  0.94FTMAX Franklin TempletonPairCorr
  0.95FTMCX First Trust MultiPairCorr
  0.81FDHIX First Trust ShortPairCorr
  0.81FDHCX First Trust ShortPairCorr
  0.85FDHAX First Trust ShortPairCorr
  0.88VARBX Vivaldi Merger ArbitragePairCorr
  0.87VARCX First Trust MergerPairCorr
  0.87VARAX Vivaldi Merger ArbitragePairCorr
  0.97FPEIX First Trust PreferredPairCorr
  0.97FPEFX First Trust PreferredPairCorr
  0.97FPECX First Trust PreferredPairCorr
  0.97FPEAX First Trust PreferredPairCorr
  0.97FPERX First Trust PreferredPairCorr
  0.98VWITX Vanguard Intermediate-terPairCorr
  0.97VWIUX Vanguard Intermediate-terPairCorr
  0.99AFTEX Tax Exempt BondPairCorr
  0.98AFTFX Tax Exempt BondPairCorr
  0.99TEBCX Tax Exempt BondPairCorr
  0.98TEAFX Tax Exempt BondPairCorr
  0.98TFEBX Tax Exempt BondPairCorr
  0.97FLTMX Fidelity IntermediatePairCorr
  0.98MDNLX Blackrock NationalPairCorr
  0.96MFNLX Blackrock Natl MuniPairCorr
  0.93PPFIX Princeton PremiumPairCorr
  0.91FNBGX Fidelity Long TermPairCorr
  0.94JPTKX Jpmorgan Smartretirement*PairCorr
  0.94CPBFX Invesco E PlusPairCorr
  0.68VMCPX Vanguard Mid CapPairCorr
  0.94NMI Nuveen MunicipalomePairCorr
  0.92MDCEX Matisse DiscountedPairCorr
  0.94FNSDX Fidelity Freedom 2055PairCorr
  0.81FFRIX Fidelity Advisor FloatingPairCorr
  0.83FAIFX American FundsPairCorr
  0.95SCPEX Carillon Reams CorePairCorr

Moving against First Mutual Fund

  0.63FOVCX First Trust/confluencePairCorr
  0.62FOVIX First Trust/confluencePairCorr
  0.62FOVAX First Trust/confluencePairCorr

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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