First Trust Correlations

Funds . USA . 
Fund . First Trust Intermediate
FPF Fund  USD 18.70  0.12  0.65%   
The current 90-days correlation between First Trust Intermediate and Cohen Steers Limited is 0.72 (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 0.54 (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

  0.73NHS Neuberger Berman HighPairCorr
  0.99GMWZX Mydestination 2025PairCorr
  0.99DVOIX Dividend OpportunitiesPairCorr
  0.96VEVFX Vanguard Explorer ValuePairCorr
  0.99QGRPX Ubs Quality GrowthPairCorr
  0.77WACSX Western Asset EPairCorr
  0.97ATECX Ab Sustainable GlobalPairCorr
  0.81DLEUX Doubleline ShillerPairCorr
  0.99MSPIX Mainstay Sp 500PairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.82BIMIX Baird Intermediate BondPairCorr
  0.97PRMDX Maryland Short TermPairCorr
  0.97TEMVX Tiaa Cref Emerging Steady GrowthPairCorr
  0.94GCIIX Goldman Sachs InternPairCorr
  0.69FBIOX Biotechnology PortfolioPairCorr
  0.98GWOAX Gmo Global DevelopedPairCorr
  0.97GCMRX Goldman Sachs MidPairCorr
  0.61WEGRX Allspring Emerging GrowthPairCorr
  0.99VFINX Vanguard 500 IndexPairCorr
  0.93PYSIX Payden Strategic IncomePairCorr
  0.96PCGRX Pioneer Mid CapPairCorr
  0.99HGOTX Hartford Growth OppoPairCorr
  0.98LGLFX Lord Abbett GrowthPairCorr
  0.97TILCX T Rowe PricePairCorr
  0.65AACRX Strategic AllocationPairCorr
  0.99PRSIX Trowe Price PersonalPairCorr
  0.99RBOTX American Funds 2065PairCorr
  0.98STSEX Blackrock ExchangePairCorr
  0.97RYCVX Dow 2x StrategyPairCorr
  0.88SIGAX Western Asset PoratePairCorr
  0.99TRROX T Rowe PricePairCorr
  0.98DHLTX Diamond Hill AllPairCorr
  0.68GRECX Goldman Sachs RealPairCorr
  0.98JGMRX Janus TritonPairCorr

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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