First Trust Correlations

Funds . USA . 
Fund . First Trust Intermediate
FPF Fund  USD 18.77  0.02  0.11%   
The current 90-days correlation between First Trust Intermediate and Cohen Steers Limited is 0.7 (i.e., Poor 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.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Intermediate and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Intermediate 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 Trust Intermediate. 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

  0.69NEA Nuveen Amt FreePairCorr
  0.67NAD Nuveen Dividend AdvantagePairCorr
  0.95EDD Morgan Stanley EmergingPairCorr
  0.89PTY Pimco Corporate IncomePairCorr
  0.62NZF Nuveen Municipal CreditPairCorr
  0.98CCIFX Columbia SeligmanPairCorr
  0.94NMCIX Voya Midcap OpportunitiesPairCorr
  0.98SDRIX Swan Defined RiskPairCorr
  0.98ISOLX Voya Target InPairCorr
  0.9DCAVX Dunham Dynamic MacroPairCorr
  0.94SVARX Spectrum Low VolatilityPairCorr
  0.96MDIKX Mfs InternationalPairCorr
  0.99FHLSX Fidelity Health SavingsPairCorr
  0.97VBCVX Broad Cap ValuePairCorr
  0.97TLATX Transamerica Large CorePairCorr
  0.98FOF Cohen Steers ClosedPairCorr
  0.95AVEAX Ave Maria FocusedPairCorr
  0.98ICEQX Ivy E EquityPairCorr
  0.84AGBGX Global Bond FundPairCorr
  0.96ADVMX Advisory ResearchPairCorr
  0.95EKGIX Wells Fargo GlobalPairCorr
  0.95PCGRX Pioneer Mid CapPairCorr
  0.89TSFIX Touchstone Small CapPairCorr
  0.97MGSMX Deutsche Short TermPairCorr
  0.97NBGTX Neuberger Berman GuardianPairCorr
  0.99LENAX Blackrock Lifepath EsgPairCorr
  0.97AGYWX Growth Fund YPairCorr
  0.97LAMQX Lord Abbett CalibratedPairCorr
  0.98QLMYIX Legg Mason PartnersPairCorr
  0.93BGX Blackstone Gso LongPairCorr
  0.97PACEX T Rowe PricePairCorr
  0.96CFIAX Columbia Flexible CapitalPairCorr
  0.96AVSCX Allianz Global InvestorsPairCorr
  0.9PSRCX Pioneer Strategic IncomePairCorr
  0.95PTSRX Short Term FundPairCorr
  0.98CCOYX Columbia SeligmanPairCorr
  0.98PCKHX Putnam RetirementPairCorr
  0.96PDHCX Prudential EmergingPairCorr
  0.79VCRCX Mainstay Cbre GlobalPairCorr

Related Correlations Analysis

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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.

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