First Investors Correlations

FTORX Fund

USD 11.81 0.02 0.17%

The current 90-days correlation between First Investors Tax and Scout E Bond is 0.51 (i.e., Very weak diversification). The correlation of First Investors 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 Investors Correlation With Market

Very good diversification

The correlation between First Investors Tax and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Investors Tax 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 Investors Tax. 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 metropolitan statistical area.

Moving together with FIRST Mutual Fund

0.65	OASVX	Optimum Small Mid	Pair Corr
0.76	IMAAX	Ivy Apollo Multi	Pair Corr
0.69	WASAX	Ivy Asset Strategy	Pair Corr
0.72	OCLVX	Optimum Large Cap	Pair Corr
0.65	OCSVX	Optimum Small Mid	Pair Corr
0.99	CXHYX	Delaware National High	Pair Corr
0.61	WCEAX	Ivy E Equity	Pair Corr
1.0	FTNYX	Delaware Tax Free	Pair Corr
1.0	FTOTX	First Investors Tax	Pair Corr
0.83	DLHIX	Delaware Healthcare	Pair Corr
0.83	DLHCX	Delaware Healthcare	Pair Corr
0.83	DLHAX	Delaware Healthcare	Pair Corr
0.83	DLRHX	Delaware Healthcare	Pair Corr
0.65	IPOAX	Ivy Emerging Markets	Pair Corr
1.0	DMHIX	Delaware Minnesota High	Pair Corr
1.0	DMOCX	Delaware Tax Free	Pair Corr
1.0	DMNIX	Delaware Tax Free	Pair Corr
1.0	DMTFX	Delaware Tax Free	Pair Corr
0.99	DMUSX	Delaware Tax Free	Pair Corr
1.0	VAZIX	Delaware Tax Free	Pair Corr
0.81	IRSAX	Ivy Advantus Real	Pair Corr
0.72	OILVX	Optimum Large Cap	Pair Corr
1.0	VCTFX	Delaware Tax Free	Pair Corr

Related Correlations Analysis

	SCCIX	DHGCX	DLTNX	CSBCX	UIITX	PBNAX	RULFX	DHGAX
SCCIX		0.83	0.96	0.99	0.98	0.99	0.88	0.86	SCCIX
DHGCX	0.83		0.78	0.85	0.85	0.84	0.67	1.0	DHGCX
DLTNX	0.96	0.78		0.97	0.98	0.93	0.91	0.81	DLTNX
CSBCX	0.99	0.85	0.97		0.99	0.98	0.9	0.87	CSBCX
UIITX	0.98	0.85	0.98	0.99		0.97	0.9	0.88	UIITX
PBNAX	0.99	0.84	0.93	0.98	0.97		0.86	0.86	PBNAX
RULFX	0.88	0.67	0.91	0.9	0.9	0.86		0.72	RULFX
DHGAX	0.86	1.0	0.81	0.87	0.88	0.86	0.72		DHGAX
	SCCIX	DHGCX	DLTNX	CSBCX	UIITX	PBNAX	RULFX	DHGAX

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Risk-Adjusted Indicators

There is a big difference between FIRST Mutual Fund performing well and First Investors 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 Investors' 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
SCCIX	0.29	0.03	0.42	(10.35)	0.27	(0.34)	0.57	(0.47)	2.16
DHGCX	0.21	0.02	0.42	(0.48)	0.24	(0.22)	0.47	(0.42)	1.51
DLTNX	0.27	0.04	0.46	(2.02)	0.19	(0.33)	0.58	(0.46)	1.83
CSBCX	0.26	0.03	0.45	(4.01)	0.24	(0.30)	0.57	(0.42)	1.96
UIITX	0.27	0.00	0.45	0.00	0.24	(0.31)	0.56	(0.44)	1.98
PBNAX	0.25	0.03	0.44	(26.02)	0.25	(0.29)	0.52	(0.34)	2.06
RULFX	0.04	0.00	1.15	0.10	0.00	(0.17)	0.10	(0.10)	0.60
DHGAX	0.20	0.02	0.42	(0.63)	0.23	(0.22)	0.45	(0.45)	1.51

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First Investors Correlations

First Investors Correlation With Market

Very good diversification

Moving together with FIRST Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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