First Trust Correlations

Mutual Funds . USA . 
Fund . First Trust Short
FDHIX Fund  USD 18.08  0.01  0.06%   
The current 90-days correlation between First Trust Short and Artisan High Income is 0.03 (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

Average diversification

The correlation between First Trust Short and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Short 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 Short. 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

  1.0FDHCX First Trust ShortPairCorr
  1.0FDHAX First Trust ShortPairCorr
  0.95VARBX Vivaldi Merger ArbitragePairCorr
  0.95VARCX First Trust MergerPairCorr
  0.94VARAX Vivaldi Merger ArbitragePairCorr
  0.69FOVIX First Trust/confluencePairCorr
  0.67FOVCX First Trust/confluencePairCorr
  0.95FPEIX First Trust PreferredPairCorr
  0.95FPEFX First Trust PreferredPairCorr
  0.9FPECX First Trust PreferredPairCorr
  0.95FPEAX First Trust PreferredPairCorr
  0.95FPERX First Trust PreferredPairCorr
  0.99OOSYX Oppenheimer SeniorPairCorr
  0.97OOSIX Oppenheimer SeniorPairCorr
  0.98LFRIX Floating RatePairCorr
  0.96LARCX Floating RatePairCorr
  0.81LFRRX Lord Abbett InvPairCorr
  0.98LFRFX Floating RatePairCorr
  0.98LRRRX Floating RatePairCorr
  0.98LRRTX Floating RatePairCorr
  0.83LRRVX Floating RatePairCorr
  0.98LRRKX Floating RatePairCorr
  0.82VTSAX Vanguard Total StockPairCorr
  0.78VFIAX Vanguard 500 IndexPairCorr
  0.82VTSMX Vanguard Total StockPairCorr
  0.8VSMPX Vanguard Total StockPairCorr
  0.8VSTSX Vanguard Total StockPairCorr
  0.78VITSX Vanguard Total StockPairCorr
  0.77VFINX Vanguard 500 IndexPairCorr
  0.8VFFSX Vanguard 500 IndexPairCorr
  0.83VTIAX Vanguard Total InterPairCorr
  0.94DCZRX Delaware Small CapPairCorr
  0.69HDPSX Hodges Small Cap Steady GrowthPairCorr
  0.98GGEAX Nationwide Global EquityPairCorr
  0.97GCAYX Conservative AllocationPairCorr
  0.97TAVFX Third Avenue ValuePairCorr
  0.78SFGIX Seafarer Overseas GrowthPairCorr

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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