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.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Short. 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

0.99	FDHCX	First Trust Short	Pair Corr
1.0	FDHAX	First Trust Short	Pair Corr
0.67	FPEAX	First Trust Preferred	Pair Corr
0.81	OOSYX	Oppenheimer Senior	Pair Corr
0.81	OOSIX	Oppenheimer Senior	Pair Corr
0.87	LFRIX	Floating Rate	Pair Corr
0.86	LARCX	Floating Rate	Pair Corr
0.87	LFRRX	Lord Abbett Inv	Pair Corr
0.88	LFRFX	Floating Rate	Pair Corr
0.86	LRRRX	Floating Rate	Pair Corr
0.87	LRRTX	Floating Rate	Pair Corr
0.87	LRRVX	Floating Rate	Pair Corr
0.82	LRRKX	Floating Rate	Pair Corr
0.72	NHS	Neuberger Berman High	Pair Corr
0.77	RWDNX	Redwood Managed Vola	Pair Corr
0.9	BLDPX	Blackrock Low Duration	Pair Corr
0.8	IAFEX	Fisher All Foreign	Pair Corr
0.85	RBNCX	Robinson Opportunistic	Pair Corr
0.73	NEARX	Near Term Tax	Pair Corr
0.91	ASHIX	Allianzgi Short Duration	Pair Corr
0.89	CYBAX	Calvert High Yield	Pair Corr
0.83	OOSNX	Oppenheimer Senior	Pair Corr
0.78	AGGNX	Global Gold Fund	Pair Corr
0.64	SHYSX	Guggenheim High Yield	Pair Corr

Moving against First Mutual Fund

0.34

FOVCX

First Trust/confluence

Pair Corr

Related Correlations Analysis

	SSAGX	SMAAX	VSIGX	RGVAX	UIGSX	RYAQX	FCSCX
SSAGX		0.23	0.36	0.31	0.4	0.37	0.99	SSAGX
SMAAX	0.23		0.88	0.82	0.82	-0.75	0.32	SMAAX
VSIGX	0.36	0.88		0.93	0.94	-0.7	0.45	VSIGX
RGVAX	0.31	0.82	0.93		0.99	-0.68	0.39	RGVAX
UIGSX	0.4	0.82	0.94	0.99		-0.62	0.48	UIGSX
RYAQX	0.37	-0.75	-0.7	-0.68	-0.62		0.27	RYAQX
FCSCX	0.99	0.32	0.45	0.39	0.48	0.27		FCSCX
	SSAGX	SMAAX	VSIGX	RGVAX	UIGSX	RYAQX	FCSCX

Click cells to compare fundamentals

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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

FCSCX	+ 0.99	SSAGX
UIGSX	+ 0.99	RGVAX
UIGSX	+ 0.94	VSIGX
RGVAX	+ 0.93	VSIGX
VSIGX	+ 0.88	SMAAX
RGVAX	+ 0.82	SMAAX

High negative correlations

RYAQX	- 0.75	SMAAX
RYAQX	- 0.7	VSIGX
RYAQX	- 0.68	RGVAX
RYAQX	- 0.62	UIGSX

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
SSAGX	0.06	0.01	0.68	(2.49)	0.00	(0.17)	0.10	(0.10)	0.51
SMAAX	0.13	0.00	0.22	(0.36)	0.17	(0.15)	0.30	(0.30)	1.09
VSIGX	0.20	0.02	0.34	(0.37)	0.10	(0.27)	0.46	(0.31)	1.28
RGVAX	0.26	0.04	0.28	0.35	0.20	(0.33)	0.60	(0.43)	1.72
UIGSX	0.21	0.03	0.32	0.54	0.11	(0.28)	0.57	(0.35)	1.26
RYAQX	0.65	(0.02)	0.00	(0.16)	0.00	0.00	1.21	(1.61)	3.22
FCSCX	0.06	0.01	0.51	(0.84)	0.00	(0.20)	0.13	(0.13)	0.67

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