First Trust Correlations

AFSM Etf

USD 34.59 0.66 1.87%

The current 90-days correlation between First Trust Active and iShares Trust is 0.78 (i.e., Poor 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 Active moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust Active and DJI is 0.93 (i.e., Almost no 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 main economic indicators.

Moving together with First Etf

0.98	VB	Vanguard Small Cap	Pair Corr
0.98	IJR	iShares Core SP	Pair Corr
0.98	IWM	iShares Russell 2000	Pair Corr
0.98	VRTIX	Vanguard Russell 2000	Pair Corr
0.98	VTWO	Vanguard Russell 2000	Pair Corr
0.97	FNDA	Schwab Fundamental Small	Pair Corr
0.98	SPSM	SPDR Portfolio SP	Pair Corr
0.98	DFAS	Dimensional Small Cap	Pair Corr
0.98	VIOO	Vanguard SP Small	Pair Corr
0.97	PRFZ	Invesco FTSE RAFI	Pair Corr
0.84	OIH	VanEck Oil Services	Pair Corr
0.81	WTMF	WisdomTree Managed	Pair Corr
0.89	EWC	iShares MSCI Canada	Pair Corr
0.78	TOT	Advisor Managed Port	Pair Corr
0.67	BST	BlackRock Science Tech	Pair Corr
0.77	ISTB	iShares Core 1	Pair Corr
0.84	HCMAX	THE HILLMAN FUND	Pair Corr
0.87	URA	Global X Uranium	Pair Corr
0.76	LGCF	Themes Cash Flow	Pair Corr
0.68	IYR	iShares Real Estate	Pair Corr
0.83	TAXT	Northern Trust Tax	Pair Corr
0.88	UAUG	Innovator Equity Ultra	Pair Corr
0.95	AVMC	American Century ETF	Pair Corr
0.94	FNK	First Trust Mid	Pair Corr
0.88	DFIV	Dimensional International Sell-off Trend	Pair Corr
0.66	IGEB	iShares Edge Investment	Pair Corr
0.94	CFA	VictoryShares 500	Pair Corr
0.9	CCNR	CoreCommodity Natural	Pair Corr
0.87	PID	Invesco International	Pair Corr
0.93	DIA	SPDR Dow Jones	Pair Corr
0.86	GOCT	FT Cboe Vest	Pair Corr
0.89	PAUG	Innovator Equity Power	Pair Corr
0.93	AVUV	Avantis Small Cap	Pair Corr
0.91	AHYB	American Century ETF	Pair Corr
0.77	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.91	DES	WisdomTree SmallCap	Pair Corr
0.89	FEM	First Trust Emerging	Pair Corr

Moving against First Etf

0.58	ARKW	ARK Next Generation	Pair Corr
0.46	HUM	Humana Inc	Pair Corr
0.7	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	SURE	VMAX	DVYA	FDNI	AADR	ARP	EMCR	ITAN	QVOY	ITDD
SURE		0.95	0.82	-0.43	0.88	0.84	0.86	0.9	0.29	0.91	SURE
VMAX	0.95		0.92	-0.61	0.92	0.92	0.93	0.8	0.35	0.97	VMAX
DVYA	0.82	0.92		-0.78	0.93	0.97	0.97	0.57	0.48	0.96	DVYA
FDNI	-0.43	-0.61	-0.78		-0.52	-0.66	-0.64	-0.05	-0.43	-0.62	FDNI
AADR	0.88	0.92	0.93	-0.52		0.96	0.97	0.76	0.41	0.96	AADR
ARP	0.84	0.92	0.97	-0.66	0.96		0.97	0.63	0.51	0.96	ARP
EMCR	0.86	0.93	0.97	-0.64	0.97	0.97		0.68	0.42	0.98	EMCR
ITAN	0.9	0.8	0.57	-0.05	0.76	0.63	0.68		0.07	0.74	ITAN
QVOY	0.29	0.35	0.48	-0.43	0.41	0.51	0.42	0.07		0.41	QVOY
ITDD	0.91	0.97	0.96	-0.62	0.96	0.96	0.98	0.74	0.41		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

ITDD	+ 0.98	EMCR
ITDD	+ 0.97	VMAX
ARP	+ 0.97	DVYA
EMCR	+ 0.97	DVYA
EMCR	+ 0.97	AADR
EMCR	+ 0.97	ARP

High negative correlations

FDNI	- 0.78	DVYA
ARP	- 0.66	FDNI
EMCR	- 0.64	FDNI
ITDD	- 0.62	FDNI
FDNI	- 0.61	VMAX
AADR	- 0.52	FDNI

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	0.64	0.08	0.10	0.17	0.53	(0.76)	1.78	(1.10)	3.84
VMAX	0.66	0.08	0.09	0.16	0.61	(0.73)	1.20	(1.37)	4.47
DVYA	0.57	0.25	0.26	0.63	0.22	(0.69)	1.29	(0.86)	4.23
FDNI	1.01	(0.26)	0.00	(0.22)	0.00	0.00	1.94	(3.38)	7.99
AADR	0.90	0.16	0.12	0.27	1.00	(1.01)	2.01	(1.87)	6.43
ARP	0.67	0.19	0.11	0.45	0.93	(0.69)	1.56	(1.62)	6.24
EMCR	0.70	0.18	0.20	0.35	0.46	(0.82)	1.67	(1.15)	4.16
ITAN	0.65	0.03	0.03	0.11	0.75	(0.62)	1.67	(1.42)	4.19
QVOY	0.93	0.06	0.02	0.14	1.76	(0.90)	1.62	(3.09)	8.88
ITDD	0.38	0.06	0.05	0.20	0.26	(0.41)	0.71	(0.72)	2.41

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