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.
Moving together with First Etf
0.89 | NTSX | WisdomTree 9060 Balanced | PairCorr |
0.95 | CVY | Invesco Zacks Multi | PairCorr |
0.91 | HIPS | GraniteShares HIPS High | PairCorr |
0.69 | PMBS | PIMCO Mortgage Backed | PairCorr |
0.9 | SIXD | AIM ETF Products | PairCorr |
0.9 | PFFL | ETRACS 2xMonthly Pay | PairCorr |
0.88 | DRSK | Aptus Defined Risk | PairCorr |
0.91 | SPIN | Spine Injury Solutions | PairCorr |
0.89 | SPTM | SPDR Portfolio SP | PairCorr |
0.84 | VCSH | Vanguard Short Term Sell-off Trend | PairCorr |
0.87 | CFO | VictoryShares 500 | PairCorr |
0.88 | ARVR | First Trust Indxx | PairCorr |
0.9 | BKLC | BNY Mellon Large | PairCorr |
0.94 | ERNZ | TrueShares Active Yield | PairCorr |
0.87 | XYLD | Global X SP | PairCorr |
0.9 | HYG | iShares iBoxx High Sell-off Trend | PairCorr |
0.87 | DJUN | FT Cboe Vest | PairCorr |
0.89 | IEMG | iShares Core MSCI | PairCorr |
0.85 | EU | enCore Energy Corp | PairCorr |
0.91 | GBXC | Goldman Sachs Large | PairCorr |
0.88 | WDSSF | WisdomTree Issuer ICAV | PairCorr |
0.88 | IGPT | Invesco Dynamic Software | PairCorr |
0.86 | NBGX | Neuberger Berman ETF | PairCorr |
0.92 | VTI | Vanguard Total Stock Sell-off Trend | PairCorr |
0.9 | IXG | iShares Global Financials | PairCorr |
0.84 | DIHP | Dimensional International Low Volatility | PairCorr |
0.92 | DECW | AIM ETF Products | PairCorr |
0.92 | VEMY | Virtus ETF Trust | PairCorr |
0.9 | IWF | iShares Russell 1000 | PairCorr |
Moving against First Etf
0.89 | VXX | iPath Series B | PairCorr |
0.89 | VIXY | ProShares VIX Short | PairCorr |
0.74 | YCL | ProShares Ultra Yen | PairCorr |
0.41 | FNGU | MicroSectors FANG Index Symbol Change | PairCorr |
Related Correlations Analysis
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | 1.28 | 3.84 | |||
IYLD | 0.23 | 0.02 | (0.53) | 0.34 | 0.00 | 0.59 | 1.41 | |||
PCEF | 0.33 | 0.09 | (0.08) | 0.44 | 0.00 | 1.08 | 2.90 | |||
ANGL | 0.21 | 0.03 | (0.48) | 0.35 | 0.00 | 0.62 | 2.03 | |||
HYLS | 0.19 | 0.01 | (0.85) | 0.31 | 0.00 | 0.60 | 1.23 |