First Trust Correlations

AFSM Etf

USD 34.13 0.22 0.65%

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 Active moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Average diversification

The correlation between First Trust Active and DJI is 0.15 (i.e., Average 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.

Build AI portfolio with First Etf

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 population.

Moving together with First Etf

0.86	VB	Vanguard Small Cap	Pair Corr
0.9	IJR	iShares Core SP	Pair Corr
0.82	IWM	iShares Russell 2000 Aggressive Push	Pair Corr
0.81	VRTIX	Vanguard Russell 2000	Pair Corr
0.82	VTWO	Vanguard Russell 2000	Pair Corr
0.9	FNDA	Schwab Fundamental Small	Pair Corr
0.9	SPSM	SPDR Portfolio SP	Pair Corr
0.89	DFAS	Dimensional Small Cap	Pair Corr
0.9	VIOO	Vanguard SP Small	Pair Corr
0.87	PRFZ	Invesco FTSE RAFI	Pair Corr
0.69	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.7	DGP	DB Gold Double	Pair Corr
0.79	AGQ	ProShares Ultra Silver	Pair Corr
0.7	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	JEPI	JPMorgan Equity Premium	Pair Corr
0.8	WMT	Walmart Common Stock	Pair Corr
0.62	DD	Dupont De Nemours	Pair Corr
0.68	MRK	Merck Company Aggressive Push	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr

Moving against First Etf

0.61

Procter Gamble

Pair Corr

Related Correlations Analysis

	SURE	VMAX	DVYA	FDNI	AADR	ARP	EMCR	ITAN	QVOY	ITDD
SURE		0.91	0.92	-0.54	0.74	0.87	0.38	0.92	-0.29	0.82	SURE
VMAX	0.91		0.84	-0.32	0.89	0.92	0.54	0.95	-0.15	0.94	VMAX
DVYA	0.92	0.84		-0.64	0.69	0.87	0.42	0.93	-0.4	0.81	DVYA
FDNI	-0.54	-0.32	-0.64		-0.06	-0.4	0.3	-0.48	0.47	-0.18	FDNI
AADR	0.74	0.89	0.69	-0.06		0.87	0.71	0.8	-0.1	0.88	AADR
ARP	0.87	0.92	0.87	-0.4	0.87		0.56	0.91	-0.22	0.92	ARP
EMCR	0.38	0.54	0.42	0.3	0.71	0.56		0.53	-0.09	0.73	EMCR
ITAN	0.92	0.95	0.93	-0.48	0.8	0.91	0.53		-0.25	0.92	ITAN
QVOY	-0.29	-0.15	-0.4	0.47	-0.1	-0.22	-0.09	-0.25		-0.11	QVOY
ITDD	0.82	0.94	0.81	-0.18	0.88	0.92	0.73	0.92	-0.11		ITDD
	SURE	VMAX	DVYA	FDNI	AADR	ARP	EMCR	ITAN	QVOY	ITDD

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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

ITAN	+ 0.95	VMAX
ITDD	+ 0.94	VMAX
ITAN	+ 0.93	DVYA
DVYA	+ 0.92	SURE
ITAN	+ 0.92	SURE
ARP	+ 0.92	VMAX

High negative correlations

FDNI	- 0.64	DVYA
FDNI	- 0.54	SURE
ITAN	- 0.48	FDNI
ARP	- 0.4	FDNI
QVOY	- 0.4	DVYA
FDNI	- 0.32	VMAX

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
SURE	0.68	0.05	0.05	0.13	0.66	(0.76)	1.78	(1.30)	4.96
VMAX	0.70	0.05	(0.02)	0.37	0.90	(0.72)	1.20	(1.61)	3.18
DVYA	0.56	0.06	0.04	0.16	0.62	(0.56)	1.29	(1.01)	2.91
FDNI	0.97	(0.22)	0.00	(0.37)	0.00	0.00	1.95	(1.87)	5.56
AADR	0.88	0.02	(0.03)	0.16	1.18	(0.94)	1.63	(1.93)	5.93
ARP	0.59	0.05	(0.01)	0.29	0.76	(0.58)	1.56	(1.35)	4.24
EMCR	0.74	0.05	(0.02)	0.34	0.95	(0.81)	1.24	(1.28)	4.76
ITAN	0.77	0.11	0.04	0.96	0.88	(0.77)	1.61	(1.54)	3.70
QVOY	0.94	(0.07)	0.00	(0.59)	0.00	0.00	1.52	(2.24)	9.92
ITDD	0.44	0.02	(0.08)	0.23	0.56	(0.42)	0.84	(0.86)	2.40

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