First Trust Correlations

CWAIX Fund

USD 19.75 0.04 0.20%

The current 90-days correlation between First Trust Managed and Franklin Templeton Multi Asset is -0.04 (i.e., Good diversification). The correlation of First Trust 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 Correlation With Market

Good diversification

The correlation between First Trust Managed and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Managed and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in First Trust Managed. 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 gross domestic product.

Moving together with First Mutual Fund

0.71	FTMAX	Franklin Templeton	Pair Corr
0.74	FTMCX	First Trust Multi	Pair Corr
0.79	FDHIX	First Trust Short	Pair Corr
0.79	FDHCX	First Trust Short	Pair Corr
0.79	FDHAX	First Trust Short	Pair Corr
0.7	VARBX	Vivaldi Merger Arbitrage	Pair Corr
0.71	VARCX	First Trust Merger	Pair Corr
0.69	VARAX	Vivaldi Merger Arbitrage	Pair Corr
0.69	FOVIX	First Trust/confluence	Pair Corr
0.68	FOVCX	First Trust/confluence	Pair Corr
0.69	FOVAX	First Trust/confluence	Pair Corr
0.78	FPEIX	First Trust Preferred	Pair Corr
0.76	FPEFX	First Trust Preferred	Pair Corr
0.76	FPECX	First Trust Preferred	Pair Corr
0.76	FPEAX	First Trust Preferred	Pair Corr
0.78	FPERX	First Trust Preferred	Pair Corr
0.9	VWITX	Vanguard Intermediate-ter	Pair Corr
0.9	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.88	AFTEX	Tax Exempt Bond	Pair Corr
0.88	AFTFX	Tax Exempt Bond	Pair Corr
0.86	TEBCX	Tax Exempt Bond	Pair Corr
0.89	TEAFX	Tax Exempt Bond	Pair Corr
0.89	TFEBX	Tax Exempt Bond	Pair Corr
0.87	FLTMX	Fidelity Intermediate	Pair Corr
0.91	MDNLX	Blackrock National	Pair Corr
0.89	MFNLX	Blackrock Natl Muni	Pair Corr
0.8	NHS	Neuberger Berman High	Pair Corr
0.77	FHAPX	Fidelity Freedom Blend	Pair Corr
0.78	SCGCX	Qs Moderate Growth	Pair Corr
0.74	SHDRX	American Beacon Shapiro	Pair Corr
0.75	NASDX	Nasdaq 100 Index	Pair Corr
0.77	VTRVX	Voya Target In	Pair Corr
0.75	FAEGX	Fidelity Advisor Equity	Pair Corr
0.74	JSGIX	John Hancock Strategic	Pair Corr
0.8	ACYIX	High Yield Fund	Pair Corr
0.77	STLYX	Simt Tax Managed	Pair Corr
0.9	WFRTX	Wells Fargo Intermediate	Pair Corr

Related Correlations Analysis

	CWAIX	FTMAX	FTMCX	FDHIX	FDHCX	FDHAX	VARBX	VARCX	VARAX	FOVIX
CWAIX		0.71	0.74	0.79	0.79	0.79	0.7	0.71	0.69	0.69	CWAIX
FTMAX	0.71		0.96	0.94	0.94	0.94	0.9	0.9	0.9	0.69	FTMAX
FTMCX	0.74	0.96		0.99	0.99	0.99	0.95	0.95	0.95	0.72	FTMCX
FDHIX	0.79	0.94	0.99		1.0	1.0	0.95	0.94	0.94	0.75	FDHIX
FDHCX	0.79	0.94	0.99	1.0		1.0	0.94	0.93	0.94	0.76	FDHCX
FDHAX	0.79	0.94	0.99	1.0	1.0		0.94	0.93	0.94	0.76	FDHAX
VARBX	0.7	0.9	0.95	0.95	0.94	0.94		0.99	1.0	0.58	VARBX
VARCX	0.71	0.9	0.95	0.94	0.93	0.93	0.99		0.99	0.56	VARCX
VARAX	0.69	0.9	0.95	0.94	0.94	0.94	1.0	0.99		0.58	VARAX
FOVIX	0.69	0.69	0.72	0.75	0.76	0.76	0.58	0.56	0.58		FOVIX
	CWAIX	FTMAX	FTMCX	FDHIX	FDHCX	FDHAX	VARBX	VARCX	VARAX	FOVIX

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Risk-Adjusted Indicators

There is a big difference between First Mutual Fund performing well and First Trust 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'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
CWAIX	0.12	0.01	(0.63)	(0.25)	0.07	(0.16)	0.31	(0.25)	1.07
FTMAX	0.14	0.03	(0.43)	(0.47)	0.06	(0.15)	0.30	(0.30)	1.23
FTMCX	0.11	0.03	(0.50)	0.36	0.00	(0.15)	0.29	(0.17)	0.79
FDHIX	0.11	0.04	(0.68)	0.55	0.00	(0.16)	0.45	(0.11)	0.75
FDHCX	0.10	0.04	(0.76)	0.51	0.00	(0.16)	0.45	(0.11)	0.69
FDHAX	0.10	0.04	(0.73)	0.55	0.00	(0.15)	0.45	(0.11)	0.67
VARBX	0.08	0.02	(0.58)	0.58	0.00	(0.13)	0.18	(0.09)	0.83
VARCX	0.07	0.02	(0.73)	4.71	0.00	(0.11)	0.19	(0.09)	0.75
VARAX	0.08	0.02	(0.58)	0.81	0.00	(0.13)	0.19	(0.09)	0.85
FOVIX	0.96	(0.06)	(0.04)	0.08	1.08	(0.99)	2.05	(1.68)	5.96

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First Trust Correlations

First Trust Correlation With Market

Good diversification

Moving together with First Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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