First Trust Correlations

Mutual Funds USA . 
Fund . First Trust Merger
VARCX Fund   10.81  0.01  0.09%   
The current 90-days correlation between First Trust Merger and Franklin Templeton Multi Asset is 0.16 (i.e., Average 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

Significant diversification

The correlation between First Trust Merger and DJI is 0.04 (i.e., Significant 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 main economic indicators.

Moving together with First Mutual Fund

  0.95FTMCX First Trust MultiPairCorr
  0.94FDHIX First Trust ShortPairCorr
  0.93FDHCX First Trust ShortPairCorr
  0.94FDHAX First Trust ShortPairCorr
  1.0VARBX Vivaldi Merger ArbitragePairCorr
  1.0VARAX Vivaldi Merger ArbitragePairCorr
  0.93FPECX First Trust PreferredPairCorr
  0.94FPERX First Trust PreferredPairCorr
  0.9BCLPX Blckrk Lc CrPairCorr
  0.88BALPX Blckrk Lc CrPairCorr
  0.88BILPX Blkrk Lc CrPairCorr
  0.94MERIX Merger FundPairCorr
  0.95MERFX Merger FundPairCorr
  0.88ARBCX Arbitrage FundPairCorr
  0.88ARBNX Arbitrage FundPairCorr
  0.73NHS Neuberger Berman HighPairCorr
  0.79FUFRX Franklin UtilitiesPairCorr
  0.9PGBEX Blue Chip FundPairCorr
  0.93QIBGX Federated Mdt BalancedPairCorr
  0.87KAMCX Kensington Managed IncomePairCorr
  0.89ADNIX Amer Beacon Ark Steady GrowthPairCorr
  0.93BGHSX Brandywineglobal HighPairCorr
  0.92TWGIX Growth Fund IPairCorr
  0.81IORLX Aim Taxexempt FundsPairCorr
  0.64BCPAX Brandes E PlusPairCorr
  0.79GLEAX Goldman Sachs MlpPairCorr
  0.91ETIMX Eventide Multi AssetPairCorr
  0.94BUBSX Baird Ultra ShortPairCorr
  0.85PARTX Putman Absolute ReturnPairCorr
  0.93GCMDX Goldman Sachs LocalPairCorr
  0.79FSMBX Tributary Smallmid CapPairCorr
  0.86PEO Adams Natural ResourcesPairCorr
  0.9AONIX One Choice PortfolioPairCorr
  0.95CLM Cornerstone StrategicPairCorr
  0.93BLARX Lord Abbett BalancedPairCorr
  0.89FTZFX Fuller Thaler BehavioralPairCorr
  0.9FEFAX First Eagle FundPairCorr

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 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FTMAX  0.14  0.03 (0.43)(0.47) 0.06 
(0.15)
 0.30 
(0.30)
 1.23 
FTMCX  0.11  0.05 (0.52)(1.61) 0.00 
(0.15)
 0.29 
(0.17)
 0.79 
FDHIX  0.11  0.04 (0.68) 0.55  0.00 
(0.16)
 0.45 
(0.11)
 0.75 
FDHCX  0.11  0.06 (0.70)(3.67) 0.00 
(0.17)
 0.45 
(0.11)
 0.69 
FDHAX  0.11  0.06 (0.67)(4.64) 0.00 
(0.17)
 0.46 
(0.11)
 0.69 
VARBX  0.08  0.03 (0.58)(3.18) 0.00 
(0.13)
 0.18 
(0.09)
 0.83 
VARCX  0.07  0.02 (0.73) 4.71  0.00 
(0.11)
 0.19 
(0.09)
 0.75 
VARAX  0.08  0.02 (0.57) 2.81  0.00 
(0.13)
 0.19 
(0.09)
 0.85 
FOVIX  0.96 (0.06)(0.04) 0.08  1.08 
(0.99)
 2.05 
(1.68)
 5.96 
FOVCX  0.96 (0.06)(0.05) 0.07  1.08 
(1.02)
 2.02 
(1.72)
 5.99 

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