First Trust Correlations

AFLG Etf

USD 35.60 0.08 0.22%

The current 90-days correlation between First Trust Active and First Trust Active is 0.17 (i.e., Average 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

Significant diversification

The correlation between First Trust Active 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 Active and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Etf

0.9	VTI	Vanguard Total Stock	Pair Corr
0.87	SPY	SPDR SP 500	Pair Corr
0.87	IVV	iShares Core SP	Pair Corr
0.81	VIG	Vanguard Dividend	Pair Corr
0.87	VV	Vanguard Large Cap	Pair Corr
0.71	RSP	Invesco SP 500	Pair Corr
0.89	IWB	iShares Russell 1000	Pair Corr
0.88	ESGU	iShares ESG Aware	Pair Corr
0.87	DFAC	Dimensional Core Equity	Pair Corr
0.87	SPLG	SPDR Portfolio SP	Pair Corr
0.7	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.62	MLPR	ETRACS Quarterly Pay	Pair Corr
0.72	BITO	ProShares Bitcoin	Pair Corr
0.83	RFDA	RiverFront Dynamic	Pair Corr
0.69	IBM	International Business Upward Rally	Pair Corr
0.69	WMT	Walmart Aggressive Push	Pair Corr
0.84	BAC	Bank of America Sell-off Trend	Pair Corr
0.65	AXP	American Express	Pair Corr
0.68	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against First Etf

0.49	NRGU	Bank Of Montreal	Pair Corr
0.57	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AFSM	AFMC	ABEQ	AESR	AUSF
AFSM		0.95	0.61	0.58	0.86	AFSM
AFMC	0.95		0.72	0.67	0.92	AFMC
ABEQ	0.61	0.72		0.34	0.74	ABEQ
AESR	0.58	0.67	0.34		0.62	AESR
AUSF	0.86	0.92	0.74	0.62		AUSF
	AFSM	AFMC	ABEQ	AESR	AUSF

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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
AFSM	0.88	(0.01)	(0.04)	0.08	1.08	(0.94)	1.76	(1.43)	10.09
AFMC	0.74	0.01	(0.03)	0.11	0.86	(0.79)	1.60	(1.19)	7.54
ABEQ	0.42	(0.02)	(0.15)	0.00	0.58	(0.42)	0.83	(0.65)	2.97
AESR	0.73	0.03	(0.02)	0.17	0.98	(0.77)	1.41	(1.69)	5.50
AUSF	0.59	0.01	(0.10)	0.17	0.63	(0.71)	1.25	(0.79)	6.10

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