First Trust Correlations
FDHIX Fund | USD 18.03 0.01 0.06% |
The current 90-days correlation between First Trust Short and Virtus Seix Government is 0.09 (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 0.13 (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.
First |
Moving together with First Mutual Fund
0.99 | FDHCX | First Trust Short | PairCorr |
1.0 | FDHAX | First Trust Short | PairCorr |
0.67 | FPEAX | First Trust Preferred | PairCorr |
0.81 | OOSYX | Oppenheimer Senior | PairCorr |
0.81 | OOSIX | Oppenheimer Senior | PairCorr |
0.87 | LFRIX | Floating Rate | PairCorr |
0.86 | LARCX | Floating Rate | PairCorr |
0.87 | LFRRX | Lord Abbett Inv | PairCorr |
0.88 | LFRFX | Floating Rate | PairCorr |
0.86 | LRRRX | Floating Rate | PairCorr |
0.87 | LRRTX | Floating Rate | PairCorr |
0.87 | LRRVX | Floating Rate | PairCorr |
0.82 | LRRKX | Floating Rate | PairCorr |
0.72 | NHS | Neuberger Berman High | PairCorr |
0.77 | RWDNX | Redwood Managed Vola | PairCorr |
0.9 | BLDPX | Blackrock Low Duration | PairCorr |
0.8 | IAFEX | Fisher All Foreign | PairCorr |
0.85 | RBNCX | Robinson Opportunistic | PairCorr |
0.73 | NEARX | Near Term Tax | PairCorr |
0.91 | ASHIX | Allianzgi Short Duration | PairCorr |
0.89 | CYBAX | Calvert High Yield | PairCorr |
0.83 | OOSNX | Oppenheimer Senior | PairCorr |
0.78 | AGGNX | Global Gold Fund | PairCorr |
0.64 | SHYSX | Guggenheim High Yield | PairCorr |
Moving against First Mutual Fund
Related Correlations Analysis
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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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 | ||
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SSAGX | 0.06 | 0.01 | 0.68 | (2.49) | 0.00 | 0.10 | 0.51 | |||
SMAAX | 0.13 | 0.00 | 0.22 | (0.36) | 0.17 | 0.30 | 1.09 | |||
VSIGX | 0.20 | 0.02 | 0.34 | (0.37) | 0.10 | 0.46 | 1.28 | |||
RGVAX | 0.26 | 0.04 | 0.28 | 0.35 | 0.20 | 0.60 | 1.72 | |||
UIGSX | 0.21 | 0.03 | 0.32 | 0.54 | 0.11 | 0.57 | 1.26 | |||
RYAQX | 0.65 | (0.02) | 0.00 | (0.16) | 0.00 | 1.21 | 3.22 | |||
FCSCX | 0.06 | 0.01 | 0.51 | (0.84) | 0.00 | 0.13 | 0.67 |