First Trustconfluence Correlations

FOVIX Fund

USD 27.85 0.07 0.25%

The current 90-days correlation between First Trustconfluence and Delaware Minnesota High Yield is 0.06 (i.e., Significant diversification). The correlation of First Trustconfluence 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 Trustconfluence Correlation With Market

Poor diversification

The correlation between First Trustconfluence Small and DJI is 0.68 (i.e., Poor 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.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trustconfluence Small. 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

1.0	FOVCX	First Trustconfluence	Pair Corr
0.86	FOVAX	First Trustconfluence	Pair Corr
0.73	VSMAX	Vanguard Small Cap	Pair Corr
0.72	VSCIX	Vanguard Small Cap	Pair Corr
0.73	VSCPX	Vanguard Small Cap	Pair Corr
0.73	NAESX	Vanguard Small Cap	Pair Corr
0.78	DFSTX	Us Small Cap	Pair Corr
0.8	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.87	FTHNX	Fuller Thaler Behavioral	Pair Corr

Moving against First Mutual Fund

0.32	CWAIX	First Trust Managed	Pair Corr
0.35	GPBFX	Gmo E Plus	Pair Corr

Related Correlations Analysis

	DMHIX	BXHCX	MRHYX	CAYCX	ABTYX
DMHIX		0.16	0.33	0.99	0.99	DMHIX
BXHCX	0.16		0.9	0.13	0.13	BXHCX
MRHYX	0.33	0.9		0.29	0.28	MRHYX
CAYCX	0.99	0.13	0.29		0.99	CAYCX
ABTYX	0.99	0.13	0.28	0.99		ABTYX
	DMHIX	BXHCX	MRHYX	CAYCX	ABTYX

Risk-Adjusted Indicators

There is a big difference between First Mutual Fund performing well and First Trustconfluence 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 Trustconfluence'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
DMHIX	0.11	0.02	(0.21)	(2.85)	0.00	(0.18)	0.31	(0.20)	0.91
BXHCX	0.13	(0.01)	(0.28)	0.00	0.10	(0.22)	0.25	(0.25)	0.86
MRHYX	0.10	0.00	(0.25)	0.05	0.00	(0.17)	0.24	(0.24)	0.59
CAYCX	0.09	0.01	(0.31)	0.89	0.00	(0.15)	0.21	(0.11)	0.73
ABTYX	0.12	0.01	(0.25)	(0.62)	0.04	(0.18)	0.39	(0.20)	0.98

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