First Investors Correlations

FICGX Fund

USD 12.86 0.09 0.69%

The current 90-days correlation between First Investors Select and Optimum Small Mid Cap is 0.84 (i.e., Very poor diversification). The correlation of First Investors 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 Investors Correlation With Market

Poor diversification

The correlation between First Investors Select and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Investors Select 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 Investors Select. 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 price.

Moving together with First Mutual Fund

0.96	OASGX	Optimum Small Mid	Pair Corr
0.97	OASVX	Optimum Small Mid	Pair Corr
0.7	WASAX	Ivy Asset Strategy	Pair Corr
0.88	WSGAX	Ivy Small Cap	Pair Corr
0.9	OCLVX	Optimum Large Cap	Pair Corr
0.97	OCLGX	Optimum Large Cap	Pair Corr
0.97	OCSVX	Optimum Small Mid	Pair Corr
0.85	WSTAX	Ivy Science And	Pair Corr
0.77	DMO	Western Asset Mortgage	Pair Corr
0.96	WCEAX	Ivy E Equity	Pair Corr
0.97	OISVX	Optimum Small Mid	Pair Corr
0.95	FGIPX	First Investors Growth	Pair Corr
0.95	FGINX	First Investors Growth	Pair Corr

Moving against First Mutual Fund

0.71	DLHCX	Delaware Healthcare	Pair Corr
0.7	DLHIX	Delaware Healthcare	Pair Corr
0.7	DLRHX	Delaware Healthcare	Pair Corr
0.69	OCFIX	Optimum Fixed Income	Pair Corr
0.35	IMAAX	Ivy Apollo Multi	Pair Corr
0.67	OIFIX	Optimum Fixed Income	Pair Corr
0.67	DPDFX	Delaware Diversified	Pair Corr
0.66	DPFFX	Delaware Diversified	Pair Corr
0.36	DMTFX	Delaware Tax Free	Pair Corr
0.33	DPRRX	Delaware Reit	Pair Corr
0.31	DPREX	Delaware Reit	Pair Corr
0.67	DPZRX	Delaware Diversified	Pair Corr
0.38	IVIAX	Ivy International	Pair Corr

Related Correlations Analysis

	OASGX	OASVX	IMAAX	OCFIX	WASAX	WSGAX	OCIEX	OCLVX	OCLGX	OCSGX
OASGX		0.97	-0.29	-0.58	0.67	0.97	0.0	0.85	0.9	1.0	OASGX
OASVX	0.97		-0.34	-0.68	0.68	0.9	-0.01	0.88	0.93	0.97	OASVX
IMAAX	-0.29	-0.34		0.7	0.28	-0.3	0.84	-0.22	-0.31	-0.29	IMAAX
OCFIX	-0.58	-0.68	0.7		-0.37	-0.46	0.28	-0.61	-0.74	-0.57	OCFIX
WASAX	0.67	0.68	0.28	-0.37		0.54	0.64	0.69	0.79	0.67	WASAX
WSGAX	0.97	0.9	-0.3	-0.46	0.54		-0.06	0.76	0.79	0.97	WSGAX
OCIEX	0.0	-0.01	0.84	0.28	0.64	-0.06		0.06	0.08	0.01	OCIEX
OCLVX	0.85	0.88	-0.22	-0.61	0.69	0.76	0.06		0.87	0.85	OCLVX
OCLGX	0.9	0.93	-0.31	-0.74	0.79	0.79	0.08	0.87		0.9	OCLGX
OCSGX	1.0	0.97	-0.29	-0.57	0.67	0.97	0.01	0.85	0.9		OCSGX
	OASGX	OASVX	IMAAX	OCFIX	WASAX	WSGAX	OCIEX	OCLVX	OCLGX	OCSGX

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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

OCSGX	+ 1.0	OASGX
OASVX	+ 0.97	OASGX
WSGAX	+ 0.97	OASGX
OCSGX	+ 0.97	OASVX
OCSGX	+ 0.97	WSGAX
OCLGX	+ 0.93	OASVX

High negative correlations

OCLGX	- 0.74	OCFIX
OCFIX	- 0.68	OASVX
OCLVX	- 0.61	OCFIX
OCFIX	- 0.58	OASGX
OCSGX	- 0.57	OCFIX
WSGAX	- 0.46	OCFIX

Risk-Adjusted Indicators

There is a big difference between First Mutual Fund performing well and First Investors 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 Investors' 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
OASGX	0.86	(0.02)	0.01	0.10	1.00	(0.93)	1.88	(1.64)	5.94
OASVX	0.79	0.00	0.04	0.12	0.67	(0.92)	1.70	(1.43)	6.37
IMAAX	0.34	(0.04)	0.00	(0.07)	0.00	0.00	0.62	(0.62)	2.15
OCFIX	0.23	(0.02)	0.00	0.52	0.00	0.00	0.45	(0.57)	1.26
WASAX	0.43	(0.05)	(0.16)	0.03	0.59	(0.42)	0.79	(1.09)	3.08
WSGAX	0.97	(0.07)	(0.02)	0.07	1.09	(1.11)	2.15	(1.70)	7.25
OCIEX	0.61	(0.08)	0.00	(0.05)	0.00	0.00	1.23	(1.32)	3.78
OCLVX	0.50	0.07	(0.08)	5.20	0.41	(0.61)	1.04	(0.81)	3.34
OCLGX	0.74	(0.01)	(0.02)	0.10	1.13	(0.73)	1.59	(2.15)	5.02
OCSGX	0.86	(0.03)	0.01	0.09	1.03	(0.92)	1.83	(1.66)	6.05

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