First Investors Correlations

Mutual Funds . USA . 
Fund . First Investors Tax
FTOTX Fund  USD 12.18  0.02  0.16%   
The current 90-days correlation between First Investors Tax and John Hancock High is 0.91 (i.e., Almost no 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

Average diversification

The correlation between First Investors Tax 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 Investors Tax 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 Tax. 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 estimate.

Moving together with First Mutual Fund

  0.67IMAAX Ivy Apollo MultiPairCorr
  0.66OCFIX Optimum Fixed IncomePairCorr
  0.96CXHYX Delaware National HighPairCorr
  0.99FTNYX Delaware Tax FreePairCorr
  1.0FTORX First Investors TaxPairCorr
  0.64DLHIX Delaware HealthcarePairCorr
  0.64DLHCX Delaware HealthcarePairCorr
  0.64DLHAX Delaware HealthcarePairCorr
  0.64DLRHX Delaware HealthcarePairCorr
  0.99DMHIX Delaware Minnesota HighPairCorr
  0.99DMOCX Delaware Tax FreePairCorr
  0.99DMNIX Delaware Tax FreePairCorr
  0.99DMTFX Delaware Tax FreePairCorr
  0.97DMUSX Delaware Tax FreePairCorr
  0.98VAZIX Delaware Tax FreePairCorr
  0.82IRSAX Ivy Advantus RealPairCorr
  0.65OIFIX Optimum Fixed IncomePairCorr
  0.99VCTFX Delaware Tax FreePairCorr
  0.7DPCFX Delaware DiversifiedPairCorr
  0.7DPDFX Delaware DiversifiedPairCorr
  0.67DPFFX Delaware DiversifiedPairCorr

Related Correlations Analysis

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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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