First Trust/confluence Correlations
| FOVAX Fund | USD 27.25 0.50 1.80% |
The current 90-days correlation between First Trust/confluence and Nuveen Small Cap is -0.01 (i.e., Good diversification). The correlation of First Trust/confluence 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/confluence Correlation With Market
Average diversification
The correlation between First Trustconfluence Small and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trustconfluence Small and DJI in the same portfolio, assuming nothing else is changed.
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Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between First Mutual Fund performing well and First Trust/confluence 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/confluence'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FMPFX | 0.98 | (0.15) | 0.00 | (0.22) | 0.00 | 1.53 | 6.05 | |||
| FFGRX | 1.16 | (0.24) | 0.00 | 0.47 | 0.00 | 1.38 | 10.97 | |||
| HSPCX | 1.21 | (0.29) | 0.00 | 0.47 | 0.00 | 1.37 | 13.37 | |||
| HSPGX | 1.16 | (0.24) | 0.00 | 0.47 | 0.00 | 1.41 | 10.97 | |||
| OTPSX | 0.96 | 0.00 | 0.00 | (0.06) | 0.00 | 1.65 | 5.48 |