First Trust Correlations

MDIV Etf

USD 16.08 0.05 0.31%

The current 90-days correlation between First Trust Multi and Global X SuperIncome 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Multi Asset and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Multi Asset and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Multi Asset. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

0.89	NTSX	WisdomTree 9060 Balanced	Pair Corr
0.95	CVY	Invesco Zacks Multi	Pair Corr
0.91	HIPS	GraniteShares HIPS High	Pair Corr
0.69	PMBS	PIMCO Mortgage Backed	Pair Corr
0.9	SIXD	AIM ETF Products	Pair Corr
0.9	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.88	DRSK	Aptus Defined Risk	Pair Corr
0.89	PQDI	Principal Exchange	Pair Corr
0.91	SPIN	Spine Injury Solutions	Pair Corr
0.91	DDEC	First Trust Exchange	Pair Corr
0.89	SPTM	SPDR Portfolio SP	Pair Corr
0.84	VCSH	Vanguard Short Term Sell-off Trend	Pair Corr
0.7	AHLT	American Beacon Select	Pair Corr
0.87	CFO	VictoryShares 500	Pair Corr
0.88	ARVR	First Trust Indxx	Pair Corr
0.9	BKLC	BNY Mellon Large	Pair Corr
0.94	ERNZ	TrueShares Active Yield	Pair Corr
0.87	XYLD	Global X SP	Pair Corr
0.9	HYG	iShares iBoxx High Sell-off Trend	Pair Corr
0.87	DJUN	FT Cboe Vest	Pair Corr
0.89	IEMG	iShares Core MSCI	Pair Corr
0.85	CORO	iShares International	Pair Corr
0.85	EU	enCore Energy Corp	Pair Corr
0.91	GBXC	Goldman Sachs Large	Pair Corr
0.88	WDSSF	WisdomTree Issuer ICAV	Pair Corr
0.88	IGPT	Invesco Dynamic Software	Pair Corr
0.86	NBGX	Neuberger Berman ETF	Pair Corr
0.92	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.9	IXG	iShares Global Financials	Pair Corr
0.84	DIHP	Dimensional International Low Volatility	Pair Corr
0.92	DECW	AIM ETF Products	Pair Corr
0.88	KWT	iShares MSCI Kuwait	Pair Corr
0.92	VEMY	Virtus ETF Trust	Pair Corr
0.9	IWF	iShares Russell 1000	Pair Corr

Moving against First Etf

0.89	VXX	iPath Series B	Pair Corr
0.89	VIXY	ProShares VIX Short	Pair Corr
0.74	YCL	ProShares Ultra Yen	Pair Corr
0.41	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr

Related Correlations Analysis

	SPFF	IYLD	PCEF	ANGL	HYLS
SPFF		0.9	0.88	0.87	0.87	SPFF
IYLD	0.9		0.98	0.98	0.98	IYLD
PCEF	0.88	0.98		0.98	0.98	PCEF
ANGL	0.87	0.98	0.98		0.99	ANGL
HYLS	0.87	0.98	0.98	0.99		HYLS
	SPFF	IYLD	PCEF	ANGL	HYLS

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First Trust Constituents 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
SPFF	0.49	0.01	(0.16)	0.26	0.27	(0.63)	1.28	(0.65)	3.84
IYLD	0.23	0.02	(0.53)	0.34	0.00	(0.27)	0.59	(0.44)	1.41
PCEF	0.33	0.09	(0.08)	0.44	0.00	(0.43)	1.08	(0.38)	2.90
ANGL	0.21	0.03	(0.48)	0.35	0.00	(0.25)	0.62	(0.35)	2.03
HYLS	0.19	0.01	(0.85)	0.31	0.00	(0.23)	0.60	(0.37)	1.23

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