First Trust Correlations

Etfs . USA . 
Etf . First Trust RiverFront
RFEU Etf  USD 69.12  0.29  0.42%   
The current 90-days correlation between First Trust RiverFront and First Trust Eurozone is 0.61 (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

Weak diversification

The correlation between First Trust RiverFront and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust RiverFront and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in First Trust RiverFront. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with First Etf

  0.99VGK Vanguard FTSE EuropePairCorr
  0.97EZU iShares MSCI EurozonePairCorr
  0.99BBEU JPMorgan BetaBuildersPairCorr
  0.99IEUR iShares Core MSCIPairCorr
  0.98FEZ SPDR EURO STOXX Sell-off TrendPairCorr
  0.96IEV iShares Europe ETFPairCorr
  0.81HEDJ WisdomTree Europe HedgedPairCorr
  0.89DBEU Xtrackers MSCI EuropePairCorr
  0.88HEZU iShares Currency HedgedPairCorr
  0.97FEP First Trust EuropePairCorr
  0.95WSML iShares MSCI WorldPairCorr
  0.93EVUS iShares ESG AwarePairCorr
  0.94CPSL Calamos LadderedPairCorr
  0.94DFEV Dimensional ETF TrustPairCorr
  0.99VYMI Vanguard InternationalPairCorr
  0.88FXED Tidal ETF TrustPairCorr
  0.73HIDE Alpha Architect HighPairCorr
  0.92DFAS Dimensional Small CapPairCorr
  0.96CGGO Capital Group GlobalPairCorr
  0.91SAUG First Trust ExchangePairCorr
  0.82MVLL GraniteShares 2x Long Potential GrowthPairCorr
  0.94QTOC Innovator ETFs TrustPairCorr
  0.88VABS Virtus Newfleet ABSMBSPairCorr
  0.93SSUS Day HaganNed DavisPairCorr
  0.92PFUT Putnam Sustainable FuturePairCorr
  0.93SUPP TCW Transform SupplyPairCorr
  0.87ULST SPDR SSgA UltraPairCorr
  0.76KWEB KraneShares CSI ChinaPairCorr
  0.94SRLN SPDR Blackstone SeniorPairCorr
  0.91ENOR iShares MSCI NorwayPairCorr
  0.93SEEM SEI Select EmergingPairCorr
  0.92MYMF SPDR SSGA My2026PairCorr
  0.74BBBL BondBloxx ETF TrustPairCorr
  0.88JAJL Innovator Equity DefinedPairCorr
  0.96EFAA Invesco Actively ManagedPairCorr

Moving against First Etf

  0.57SMI Van EckPairCorr

Related Correlations Analysis

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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.

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