First Investors Correlations

Mutual Funds . USA . 
Fund . First Investors Opportunity
FIUSX Fund  USD 33.84  0.12  0.36%   
The current 90-days correlation between First Investors Oppo and Optimum Small Mid Cap is 0.93 (i.e., Almost no diversification). The correlation of First Investors 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 Investors Correlation With Market

Good diversification

The correlation between First Investors Opportunity and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Investors Opportunity 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 Investors Opportunity. 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 state.

Moving together with First Mutual Fund

  0.99OASGX Optimum Small MidPairCorr
  0.99OASVX Optimum Small MidPairCorr
  0.67IMAAX Ivy Apollo MultiPairCorr
  0.98WASAX Ivy Asset StrategyPairCorr
  0.98WSGAX Ivy Small CapPairCorr
  0.96OCIEX Optimum InternationalPairCorr
  0.97OCLVX Optimum Large CapPairCorr
  0.98OCLGX Optimum Large CapPairCorr
  0.97OCSGX Optimum Small MidPairCorr
  0.99OCSVX Optimum Small MidPairCorr
  0.98WSTAX Ivy Science AndPairCorr
  0.85DMO Western Asset MortgagePairCorr
  0.99WCEAX Ivy E EquityPairCorr
  0.79DLTZX Delaware Limited TermPairCorr
  0.77DLTRX Delaware Limited TermPairCorr
  0.97IPOAX Ivy Emerging MarketsPairCorr
  0.8IRSAX Ivy Advantus RealPairCorr
  0.62OIFIX Optimum Fixed IncomePairCorr
  0.96OIIEX Optimum InternationalPairCorr
  0.98OILGX Optimum Large CapPairCorr
  0.97OILVX Optimum Large CapPairCorr
  0.67DPCFX Delaware DiversifiedPairCorr
  0.71DPDFX Delaware DiversifiedPairCorr
  0.68DPFFX Delaware DiversifiedPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between First Mutual Fund performing well and First Investors 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 Investors' 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
OASGX  0.91  0.31  0.12 (1.53) 0.74 
(1.06)
 2.67 
(1.45)
 6.95 
OASVX  0.87  0.24  0.08 (1.14) 0.83 
(1.01)
 2.41 
(1.77)
 6.81 
IMAAX  0.03  0.00  0.00  0.51  0.00 
 0.00 
 0.11 
 0.00 
 0.45 
OCFIX  0.26  0.01 (0.33) 0.23  0.23 
(0.30)
 0.47 
(0.46)
 1.27 
WASAX  0.35  0.17  0.05 (2.91) 0.00 
(0.40)
 1.26 
(0.76)
 2.37 
WSGAX  0.87  0.25  0.08 (1.96) 0.83 
(0.96)
 2.29 
(1.44)
 4.95 
OCIEX  0.49  0.23  0.13 (2.20) 0.00 
(0.61)
 1.25 
(0.83)
 3.22 
OCLVX  0.57  0.04  0.01  0.19  0.56 
(0.66)
 1.46 
(1.02)
 3.86 
OCLGX  0.81  0.29  0.15 (6.77) 0.68 
(0.96)
 2.39 
(1.34)
 5.62 
OCSGX  0.90  0.12  0.12  0.24  0.77 
(1.17)
 2.62 
(1.41)
 6.89 

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