First Trust Correlations

Mutual Funds USA . 
Fund . First Trust Multi Strategy
FTMCX Fund   24.51  0.03  0.12%   
The current 90-days correlation between First Trust Multi and Old Westbury Large is 0.75 (i.e., Poor 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 Multi Strategy and DJI is -0.17 (i.e., Good 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 main economic indicators.

Moving together with First Mutual Fund

  0.73CWAIX First Trust ManagedPairCorr
  0.98FTMAX Franklin TempletonPairCorr
  0.98FDHIX First Trust ShortPairCorr
  0.98FDHCX First Trust ShortPairCorr
  0.98FDHAX First Trust ShortPairCorr
  0.95VARBX Vivaldi Merger ArbitragePairCorr
  0.95VARCX First Trust MergerPairCorr
  0.95VARAX Vivaldi Merger ArbitragePairCorr
  0.69FOVIX First Trust/confluencePairCorr
  0.67FOVCX First Trust/confluencePairCorr
  0.73FOVAX First Trust/confluencePairCorr
  0.99FPEIX First Trust PreferredPairCorr
  0.98FPEFX First Trust PreferredPairCorr
  0.98FPECX First Trust PreferredPairCorr
  0.99FPERX First Trust PreferredPairCorr
  0.97BXMYX Blackstone AlternativePairCorr
  0.7QSPRX Aqr Style PremiaPairCorr
  0.97BXMIX Blackstone AlternativePairCorr
  0.97BXMDX Blackstone AlternativePairCorr
  0.98GARTX Goldman Sachs AbsolutePairCorr
  0.98GCRTX Goldman Sachs AbsolutePairCorr
  0.91PDI Pimco Dynamic IncomePairCorr
  0.98FTCAX Templeton Strained BondPairCorr
  0.97HASAX Horizon Active AssetPairCorr
  0.98HCACX Hartford CapitalPairCorr
  0.8CNREX Commonwealth Real EstatePairCorr
  0.9TSIIX Thornburg StrategicPairCorr
  0.91FIKAX Fidelity Advisor EnergyPairCorr

Moving against First Mutual Fund

  0.95USPSX Profunds UltrashortPairCorr
  0.95USPIX Profunds UltrashortPairCorr
  0.92UIPIX Ultrashort Mid CapPairCorr
  0.86TCTGX Transamerica CleartrackPairCorr
  0.86TCTJX Transamerica CleartrackPairCorr
  0.85TDKTX Cleartrack 2015 ClassPairCorr
  0.85TCSUX Cleartrack 2020 ClassPairCorr

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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