First Trust Correlations

Funds . USA . 
Fund . First Trust Intermediate
FPF Fund  USD 18.81  0.04  0.21%   
The current 90-days correlation between First Trust Intermediate and Cohen Steers Limited is 0.67 (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

  0.88BTO John Hancock FinancialPairCorr
  0.95KF Korea ClosedPairCorr
  0.87EMO Clearbridge Energy MlpPairCorr
  0.98TWN Taiwan ClosedPairCorr
  0.92TDF Templeton Dragon ClosedPairCorr
  0.92SRV Cushing Mlp TotalPairCorr
  0.96ADNCX American Beacon ArkPairCorr
  0.92WFEDX Wells Fargo InternationalPairCorr
  0.95FMIMX Common StockPairCorr
  0.97ASMMX Invesco SummitPairCorr
  0.96GABIX Gabelli AssetPairCorr
  0.95AGEAX Arbitrage EventPairCorr
  0.9PSRCX Pioneer Strategic IncomePairCorr
  0.98PSBIX Strategic Asset ManaPairCorr
  0.99LENAX Blackrock Lifepath EsgPairCorr
  0.98TLATX Transamerica Large CorePairCorr
  0.88GIIAX Nationwide InternationalPairCorr
  0.95GABTX Gamco Global TelecomPairCorr
  0.95FTZIX Fuller Thaler BehavioralPairCorr
  0.98HDGYX Hartford DividendPairCorr
  0.97TRSZX T Rowe PricePairCorr
  0.97TCMIX Amg Timessquare IntePairCorr
  0.9DCAVX Dunham Dynamic MacroPairCorr
  0.98GEQZX Equity Index InvestorPairCorr
  0.98OWCAX Old Westbury CaliforniaPairCorr
  0.98RFFTX American Funds 2035PairCorr
  0.96DCCIX Delaware Small CapPairCorr
  0.96FZILX Fidelity Zero InternPairCorr
  0.98ETO Eaton Vance TaxPairCorr
  0.99FSELX Fidelity Select SemiPairCorr
  0.95APHPX Artisan Global UnconPairCorr
  0.97MADSX Msif Advantage PortPairCorr
  0.98DHAMX Centre American SelectPairCorr
  0.93GLVYX Oppenheimer Global ValPairCorr
  0.96OTCIX Mfs Mid CapPairCorr
  0.98ANWFX New PerspectivePairCorr
  0.72RFI Cohen Steers TotalPairCorr
  0.97PKAAX Pimco Rae FundamentalPairCorr

Moving against First Fund

  0.4CCD Calamos Dynamic ConvPairCorr

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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