First Trust Correlations

CWAIX Fund

USD 20.28 0.01 0.05%

The current 90-days correlation between First Trust Managed and Rational Real Strategies is 0.05 (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

Significant diversification

The correlation between First Trust Managed and DJI is 0.07 (i.e., Significant 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

0.96	VWITX	Vanguard Intermediate-ter	Pair Corr
0.96	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.98	AFTEX	Tax Exempt Bond	Pair Corr
0.84	AFTFX	Tax Exempt Bond	Pair Corr
0.99	TEBCX	Tax Exempt Bond	Pair Corr
0.92	TEAFX	Tax Exempt Bond	Pair Corr
0.98	TFEBX	Tax Exempt Bond	Pair Corr
0.89	FLTMX	Fidelity Intermediate	Pair Corr
0.98	MDNLX	Blackrock National	Pair Corr
0.97	MFNLX	Blackrock Natl Muni	Pair Corr
0.77	NHIEX	Neuberger Berman Income	Pair Corr
0.75	PDINX	Putnam Diversified Income	Pair Corr
0.76	IIBAX	Voya Intermediate Bond	Pair Corr
0.76	JTOIX	Multimanager Lifestyle	Pair Corr
0.77	MCTAX	Massmutual Retiresmart	Pair Corr
0.73	MSPHX	Massmutual Select Total	Pair Corr
0.61	IGFAX	Vy Morgan Stanley	Pair Corr
0.62	JSEAX	Jpmorgan International	Pair Corr

Related Correlations Analysis

	HRSTX	CENTX	TSEMX	SHDAX	TRSTX	OPTCX	REMVX
HRSTX		0.83	0.55	0.79	0.7	0.83	0.79	HRSTX
CENTX	0.83		0.67	0.91	0.84	0.77	0.91	CENTX
TSEMX	0.55	0.67		0.48	0.33	0.46	0.73	TSEMX
SHDAX	0.79	0.91	0.48		0.91	0.76	0.78	SHDAX
TRSTX	0.7	0.84	0.33	0.91		0.73	0.69	TRSTX
OPTCX	0.83	0.77	0.46	0.76	0.73		0.67	OPTCX
REMVX	0.79	0.91	0.73	0.78	0.69	0.67		REMVX
	HRSTX	CENTX	TSEMX	SHDAX	TRSTX	OPTCX	REMVX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HRSTX	0.06	(0.01)	0.21	1.19	0.12	(0.10)	0.12	(0.12)	0.71
CENTX	0.48	0.07	0.23	(1.30)	0.49	(0.54)	1.09	(0.87)	3.07
TSEMX	0.86	0.00	0.06	0.02	1.09	(0.90)	1.63	(1.38)	5.97
SHDAX	0.05	(0.01)	0.32	(0.97)	0.05	(0.20)	0.20	(0.20)	0.40
TRSTX	0.06	0.01	0.00	0.71	0.00	0.00	0.20	(0.20)	0.60
OPTCX	0.07	(0.01)	0.29	1.07	0.08	(0.17)	0.21	(0.21)	0.93
REMVX	0.79	0.10	0.14	0.13	0.92	(0.87)	1.67	(1.56)	5.76

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First Trust Correlations

First Trust Correlation With Market

Significant diversification

Moving together with First Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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