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.

Build AI portfolio with First Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Enhanced. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with First Etf

0.91	JPST	JPMorgan Ultra Short	Pair Corr
0.94	INTL	Main International ETF Low Volatility	Pair Corr
0.94	EMC	Global X Funds	Pair Corr
0.8	ERET	iShares Environmentally	Pair Corr
0.93	DIVS	SmartETFs Dividend	Pair Corr
0.95	XLF	Financial Select Sector Sell-off Trend	Pair Corr
0.92	LRNZ	Elevation Series Trust	Pair Corr
0.95	PAMC	Pacer Lunt MidCap	Pair Corr
0.96	VOO	Vanguard SP 500	Pair Corr
0.85	VCIT	Vanguard Intermediate Sell-off Trend	Pair Corr
0.97	USXF	iShares ESG Advanced	Pair Corr
0.86	XONE	Bondbloxx Bloomberg One	Pair Corr
0.97	KFEB	Innovator Small Cap	Pair Corr
0.79	FJP	First Trust Japan	Pair Corr
0.91	GAA	Cambria Global Asset	Pair Corr
0.92	XLY	Consumer Discretionary	Pair Corr
0.96	AOR	iShares Core Growth	Pair Corr
0.75	WCLD	WisdomTree Cloud Com	Pair Corr
0.91	SMCY	YieldMax SMCI Option	Pair Corr
0.78	NDIV	Amplify ETF Trust	Pair Corr
0.96	GSIB	Themes Global System	Pair Corr
0.83	LDUR	PIMCO Enhanced Low	Pair Corr
0.92	FEZ	SPDR EURO STOXX	Pair Corr
0.96	ESGG	FlexShares STOXX Global Low Volatility	Pair Corr
0.97	TJAN	Innovator Equity Defined	Pair Corr
0.93	EZU	iShares MSCI Eurozone	Pair Corr
0.95	PQJA	PGIM Nasdaq 100	Pair Corr
0.96	VYM	Vanguard High Dividend	Pair Corr
0.95	PQDI	Principal Exchange	Pair Corr
0.79	MATH	Metalpha Technology	Pair Corr
0.89	ORCX	Defiance Daily Target	Pair Corr
0.97	NBGX	Neuberger Berman ETF	Pair Corr

Moving against First Etf

0.93	VXX	iPath Series B	Pair Corr
0.91	FNGD	MicroSectors FANG Index Potential Growth	Pair Corr
0.6	SMI	Van Eck	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.8	0.78	0.53	0.91	0.15	0.92	0.21	0.52	META
MSFT	0.97		0.83	0.83	0.49	0.85	0.15	0.95	0.24	0.51	MSFT
UBER	0.8	0.83		0.88	0.37	0.76	0.46	0.84	0.18	0.45	UBER
F	0.78	0.83	0.88		0.36	0.8	0.15	0.89	0.43	0.69	F
T	0.53	0.49	0.37	0.36		0.55	0.09	0.46	0.27	0.19	T
A	0.91	0.85	0.76	0.8	0.55		0.12	0.85	0.37	0.64	A
CRM	0.15	0.15	0.46	0.15	0.09	0.12		0.06	-0.38	-0.23	CRM
JPM	0.92	0.95	0.84	0.89	0.46	0.85	0.06		0.34	0.6	JPM
MRK	0.21	0.24	0.18	0.43	0.27	0.37	-0.38	0.34		0.54	MRK
XOM	0.52	0.51	0.45	0.69	0.19	0.64	-0.23	0.6	0.54		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.97	META
JPM	+ 0.95	MSFT
JPM	+ 0.92	META
A	+ 0.91	META
JPM	+ 0.89	F
F	+ 0.88	UBER

High negative correlations

MRK	- 0.38	CRM
XOM	- 0.23	CRM

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	(1.75)	3.99	(1.93)	10.48
MSFT	0.82	0.37	0.50	0.77	0.00	(1.04)	2.33	(0.94)	8.85
UBER	1.56	0.10	0.07	0.33	1.35	(1.96)	4.19	(2.02)	10.87
F	1.28	0.08	0.03	0.33	1.38	(1.40)	2.69	(2.33)	7.46
T	0.97	0.04	(0.10)	0.41	1.16	(1.06)	2.35	(2.23)	5.71
A	1.50	(0.13)	0.03	0.16	1.75	(1.58)	2.82	(2.89)	14.01
CRM	1.30	0.25	(0.06)	(0.23)	1.64	(1.29)	2.95	(3.19)	9.31
JPM	0.87	0.17	0.16	0.41	0.47	(1.01)	2.25	(1.31)	6.03
MRK	1.39	(0.13)	(0.04)	0.12	1.85	(1.35)	2.90	(3.31)	10.58
XOM	1.09	0.02	(0.09)	0.32	1.37	(1.06)	2.18	(2.58)	6.28

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