First Investors Correlations

Mutual Funds . USA . 
Fund . First Investors Select
FICHX Fund  USD 13.08  0.09  0.68%   
The current 90-days correlation between First Investors Select and Redwood Real Estate is 0.04 (i.e., Significant 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

Weak diversification

The correlation between First Investors Select and DJI is 0.33 (i.e., Weak 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 rate.

Moving together with First Mutual Fund

  0.71OASGX Optimum Small MidPairCorr
  0.72OASVX Optimum Small MidPairCorr
  0.73IMAAX Ivy Apollo MultiPairCorr
  0.64OCFIX Optimum Fixed IncomePairCorr
  0.84WASAX Ivy Asset StrategyPairCorr
  0.64WSGAX Ivy Small CapPairCorr
  0.83OCLVX Optimum Large CapPairCorr
  0.63OCLGX Optimum Large CapPairCorr
  0.65CXHYX Delaware National HighPairCorr
  0.78WCEAX Ivy E EquityPairCorr
  0.69FTNYX Delaware Tax FreePairCorr
  0.61FTORX First Investors TaxPairCorr
  0.67FTOTX First Investors TaxPairCorr
  0.61DMNIX Delaware Tax FreePairCorr
  0.67DMTFX Delaware Tax FreePairCorr
  0.62DMUSX Delaware Tax FreePairCorr
  0.68VAZIX Delaware Tax FreePairCorr
  0.64IRSAX Ivy Advantus RealPairCorr
  0.67OIFIX Optimum Fixed IncomePairCorr
  0.79OILGX Optimum Large CapPairCorr
  0.87OILVX Optimum Large CapPairCorr
  0.63VCTFX Delaware Tax FreePairCorr
  0.68DPCFX Delaware DiversifiedPairCorr
  0.64DPDFX Delaware DiversifiedPairCorr
  0.66DPFFX Delaware DiversifiedPairCorr

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   
FORFX
+ 0.9
CREMX
IVRSX
+ 0.89
MRESX
ZRPTUX
+ 0.79
IVRSX
ZRPTUX
+ 0.77
MRESX
NRSCX
+ 0.57
IVRSX
NRSCX
+ 0.54
MRESX
  
High negative correlations   
FORFX
- 0.55
NRSCX
NRSCX
- 0.52
CREMX
FORFX
- 0.27
MRESX
FORFX
- 0.26
IVRSX
MRESX
- 0.24
CREMX
IVRSX
- 0.09
CREMX

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.

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