First Trust Correlations

Summary

FPLDelisted Fund

USD 6.38 0.09 1.43%

The current 90-days correlation between First Trust New and First Trust Energy is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust New moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Good diversification

The correlation between First Trust New and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust New and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with First Fund

0.77	HTY	John Hancock Tax	Pair Corr
0.61	HGORX	Hartford Growth	Pair Corr
0.61	AULDX	Ultra Fund R6	Pair Corr
0.76	EGRSX	Eaton Vance Global	Pair Corr
0.61	HGOSX	Hartford Growth	Pair Corr
0.74	CVVRX	Columbia Small Cap	Pair Corr
0.63	PFNNX	Pimco Preferred And	Pair Corr
0.73	PIPPX	Midcap Growth	Pair Corr

Moving against First Fund

0.56	PEO	Adams Natural Resources	Pair Corr
0.42	DNP	Dnp Select Income	Pair Corr
0.38	TDF	Templeton Dragon Closed	Pair Corr
0.44	ESFCX	Ashmore Emerging Markets	Pair Corr

Related Correlations Analysis

	FIF	FEI	IHIT	IGD	CII	FEN	EICA	EEA	JHS	CBH
FIF		0.92	0.15	0.2	0.46	0.8	0.39	-0.2	0.11	0.44	FIF
FEI	0.92		-0.01	0.37	0.65	0.89	0.55	-0.44	0.04	0.65	FEI
IHIT	0.15	-0.01		-0.15	-0.32	-0.11	-0.39	0.63	0.28	-0.48	IHIT
IGD	0.2	0.37	-0.15		0.67	0.43	0.46	-0.24	0.28	0.3	IGD
CII	0.46	0.65	-0.32	0.67		0.74	0.78	-0.59	0.2	0.79	CII
FEN	0.8	0.89	-0.11	0.43	0.74		0.69	-0.52	0.06	0.74	FEN
EICA	0.39	0.55	-0.39	0.46	0.78	0.69		-0.68	-0.16	0.84	EICA
EEA	-0.2	-0.44	0.63	-0.24	-0.59	-0.52	-0.68		0.5	-0.86	EEA
JHS	0.11	0.04	0.28	0.28	0.2	0.06	-0.16	0.5		-0.22	JHS
CBH	0.44	0.65	-0.48	0.3	0.79	0.74	0.84	-0.86	-0.22		CBH
	FIF	FEI	IHIT	IGD	CII	FEN	EICA	EEA	JHS	CBH

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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

FEI	+ 0.92	FIF
FEN	+ 0.89	FEI
CBH	+ 0.84	EICA
FEN	+ 0.8	FIF
CBH	+ 0.79	CII
EICA	+ 0.78	CII

High negative correlations

CBH	- 0.86	EEA
EEA	- 0.68	EICA
EEA	- 0.59	CII
EEA	- 0.52	FEN
CBH	- 0.48	IHIT
EEA	- 0.44	FEI

Risk-Adjusted Indicators

There is a big difference between First Fund performing well and First Trust 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
FIF	0.98	0.09	0.05	(1.03)	1.17	(1.00)	2.11	(1.73)	5.78
FEI	0.96	0.09	0.06	(5.05)	1.13	(1.03)	1.91	(1.87)	6.15
IHIT	0.46	(0.05)	0.00	(1.01)	0.00	0.00	1.07	(1.18)	2.70
IGD	0.69	(0.03)	0.00	(0.03)	0.00	0.00	1.11	(1.28)	4.19
CII	0.49	0.03	0.02	0.06	0.78	(0.47)	1.14	(0.98)	4.15
FEN	1.04	0.17	0.12	6.71	0.99	(1.18)	2.42	(1.58)	8.06
EICA	0.23	0.02	0.01	0.25	0.15	(0.37)	0.51	(0.42)	1.73
EEA	0.65	(0.16)	0.00	(8.28)	0.00	0.00	1.12	(1.70)	4.08
JHS	0.31	(0.04)	0.00	(0.29)	0.00	0.00	0.53	(0.87)	2.20
CBH	0.13	0.04	0.07	(5.29)	0.00	(0.18)	0.22	(0.22)	0.78

View First Trust Related Equities

First Trust Energy First Trust Mlp IHIT Voya Global Equity Blackrock Enhanced Capital First Trust Energy Eagle Point Income European Equity Closed John Hancock Income CBH MFS Investment Grade Invesco High Income Eaton Vance National Nuveen California Select Eaton Vance Floating

Risk & Return

Correlation

Still Interested in First Trust New?

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