First Trust Correlations

SCIO Etf

USD 20.57 0.05 0.24%

The current 90-days correlation between First Trust Structured and Valued Advisers Trust is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Structured moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust Structured and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Structured and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in First Trust Structured. 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

0.95	AXSAX	Axonic Strategic Income	Pair Corr
0.95	AXSIX	Axonic Strategic Income	Pair Corr
0.95	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.95	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.77	DEED	First Trust TCW	Pair Corr
0.97	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.96	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.98	JPIE	JP Morgan Exchange	Pair Corr
0.93	AFIF	Anfield Universal Fixed	Pair Corr
0.96	MUSI	American Century Mul	Pair Corr
0.87	EMCB	WisdomTree Emerging	Pair Corr
0.95	EU	enCore Energy Corp	Pair Corr
0.92	PCY	Invesco Emerging Markets	Pair Corr
0.86	WIP	SPDR FTSE International	Pair Corr
0.86	ISHG	iShares 1 3	Pair Corr
0.75	IGOV	iShares International	Pair Corr
0.92	ARKX	ARK Space Exploration	Pair Corr
0.92	ULTY	Tidal Trust II	Pair Corr
0.93	GK	AdvisorShares Gerber	Pair Corr
0.89	CBOA	Calamos Bitcoin Stru	Pair Corr
0.79	ETHO	Amplify ETF Trust	Pair Corr
0.95	GPRF	Goldman Sachs Access	Pair Corr
0.76	XLE	Energy Select Sector	Pair Corr
0.91	DARP	Tidal Trust II	Pair Corr
0.88	FLCG	Federated Hermes ETF	Pair Corr
0.93	LAYS	STKd 100 percent	Pair Corr
0.81	ESGS	Columbia Sustainable	Pair Corr
0.92	JHDV	John Hancock Exchange	Pair Corr
0.91	EWC	iShares MSCI Canada	Pair Corr
0.92	SPHB	Invesco SP 500	Pair Corr
0.63	KWEB	KraneShares CSI China	Pair Corr
0.96	GEMD	Goldman Sachs ETF	Pair Corr
0.91	FEIG	FlexShares ESG Climate	Pair Corr
0.87	RSSE	First Trust Exchange	Pair Corr
0.88	TMFC	Motley Fool 100	Pair Corr
0.76	PVI	Invesco VRDO Tax	Pair Corr
0.9	VV	Vanguard Large Cap	Pair Corr
0.9	EWH	iShares MSCI Hong	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.78	0.77	0.48	0.9	-0.04	0.91	0.21	0.52	META
MSFT	0.97		0.81	0.82	0.44	0.84	-0.05	0.94	0.25	0.51	MSFT
UBER	0.78	0.81		0.87	0.31	0.74	0.33	0.82	0.17	0.44	UBER
F	0.77	0.82	0.87		0.32	0.78	0.0	0.88	0.44	0.69	F
T	0.48	0.44	0.31	0.32		0.51	-0.05	0.42	0.27	0.17	T
A	0.9	0.84	0.74	0.78	0.51		-0.04	0.84	0.38	0.65	A
CRM	-0.04	-0.05	0.33	0.0	-0.05	-0.04		-0.1	-0.43	-0.31	CRM
JPM	0.91	0.94	0.82	0.88	0.42	0.84	-0.1		0.36	0.6	JPM
MRK	0.21	0.25	0.17	0.44	0.27	0.38	-0.43	0.36		0.54	MRK
XOM	0.52	0.51	0.44	0.69	0.17	0.65	-0.31	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	+ 0.94	MSFT
JPM	+ 0.91	META
A	+ 0.9	META
JPM	+ 0.88	F
F	+ 0.87	UBER

High negative correlations

MRK	- 0.43	CRM
XOM	- 0.31	CRM
JPM	- 0.1	CRM
CRM	- 0.05	T
CRM	- 0.05	MSFT
CRM	- 0.04	A

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	1.39	0.29	0.29	0.42	0.62	(1.71)	3.99	(1.93)	10.48
MSFT	0.79	0.37	0.52	0.73	0.00	(1.01)	2.33	(0.94)	8.85
UBER	1.54	0.10	0.08	0.29	1.36	(1.91)	4.19	(2.02)	10.87
F	1.28	0.10	0.05	0.31	1.38	(1.40)	2.69	(2.33)	7.46
T	0.94	0.04	(0.10)	0.47	1.19	(0.99)	2.03	(2.23)	5.71
A	1.48	(0.13)	0.03	0.13	1.73	(1.56)	2.82	(2.89)	14.01
CRM	1.20	(0.12)	(0.03)	0.11	1.40	(1.20)	2.91	(2.57)	9.31
JPM	0.83	0.17	0.16	0.37	0.53	(0.96)	2.04	(1.31)	5.90
MRK	1.38	(0.13)	(0.03)	0.10	1.85	(1.33)	2.90	(3.31)	10.58
XOM	1.05	0.01	(0.11)	0.28	1.42	(1.02)	2.14	(2.58)	6.26

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