First Trust Correlations
FFA Etf | USD 20.91 0.11 0.53% |
The current 90-days correlation between First Trust Enhanced and RiverNorth Flexible Municipalome is 0.21 (i.e., Modest 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
Good diversification
The correlation between First Trust Enhanced and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Enhanced and DJI in the same portfolio, assuming nothing else is changed.
Moving together with First Etf
0.91 | JPST | JPMorgan Ultra Short | PairCorr |
0.94 | INTL | Main International ETF Low Volatility | PairCorr |
0.94 | EMC | Global X Funds | PairCorr |
0.8 | ERET | iShares Environmentally | PairCorr |
0.93 | DIVS | SmartETFs Dividend | PairCorr |
0.95 | XLF | Financial Select Sector Sell-off Trend | PairCorr |
0.92 | LRNZ | Elevation Series Trust | PairCorr |
0.95 | PAMC | Pacer Lunt MidCap | PairCorr |
0.96 | VOO | Vanguard SP 500 | PairCorr |
0.85 | VCIT | Vanguard Intermediate Sell-off Trend | PairCorr |
0.97 | USXF | iShares ESG Advanced | PairCorr |
0.86 | XONE | Bondbloxx Bloomberg One | PairCorr |
0.97 | KFEB | Innovator Small Cap | PairCorr |
0.79 | FJP | First Trust Japan | PairCorr |
0.91 | GAA | Cambria Global Asset | PairCorr |
0.92 | XLY | Consumer Discretionary | PairCorr |
0.96 | AOR | iShares Core Growth | PairCorr |
0.75 | WCLD | WisdomTree Cloud Com | PairCorr |
0.91 | SMCY | YieldMax SMCI Option | PairCorr |
0.78 | NDIV | Amplify ETF Trust | PairCorr |
0.96 | GSIB | Themes Global System | PairCorr |
0.83 | LDUR | PIMCO Enhanced Low | PairCorr |
0.92 | FEZ | SPDR EURO STOXX | PairCorr |
0.96 | ESGG | FlexShares STOXX Global Low Volatility | PairCorr |
0.97 | TJAN | Innovator Equity Defined | PairCorr |
0.93 | EZU | iShares MSCI Eurozone | PairCorr |
0.95 | PQJA | PGIM Nasdaq 100 | PairCorr |
0.96 | VYM | Vanguard High Dividend | PairCorr |
0.95 | PQDI | Principal Exchange | PairCorr |
0.79 | MATH | Metalpha Technology | PairCorr |
0.89 | ORCX | Defiance Daily Target | PairCorr |
0.97 | NBGX | Neuberger Berman ETF | PairCorr |
Moving against First Etf
0.93 | VXX | iPath Series B | PairCorr |
0.91 | FNGD | MicroSectors FANG Index Potential Growth | PairCorr |
0.6 | SMI | Van Eck | PairCorr |
Related Correlations Analysis
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
First Trust Competition Risk-Adjusted Indicators
There is a big difference between First Etf performing well and First Trust ETF 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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
META | 1.43 | 0.30 | 0.31 | 0.47 | 0.58 | 3.99 | 10.48 | |||
MSFT | 0.82 | 0.37 | 0.50 | 0.77 | 0.00 | 2.33 | 8.85 | |||
UBER | 1.56 | 0.10 | 0.07 | 0.33 | 1.35 | 4.19 | 10.87 | |||
F | 1.28 | 0.08 | 0.03 | 0.33 | 1.38 | 2.69 | 7.46 | |||
T | 0.97 | 0.04 | (0.10) | 0.41 | 1.16 | 2.35 | 5.71 | |||
A | 1.50 | (0.13) | 0.03 | 0.16 | 1.75 | 2.82 | 14.01 | |||
CRM | 1.30 | 0.25 | (0.06) | (0.23) | 1.64 | 2.95 | 9.31 | |||
JPM | 0.87 | 0.17 | 0.16 | 0.41 | 0.47 | 2.25 | 6.03 | |||
MRK | 1.39 | (0.13) | (0.04) | 0.12 | 1.85 | 2.90 | 10.58 | |||
XOM | 1.09 | 0.02 | (0.09) | 0.32 | 1.37 | 2.18 | 6.28 |