First Trust Correlations

AFSM Etf

USD 33.45 0.20 0.59%

The current 90-days correlation between First Trust Active and Sonora Resources Corp is 0.89 (i.e., Very 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

Very poor diversification

The correlation between First Trust Active and DJI is 0.8 (i.e., Very poor 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 real.

Moving together with First Etf

0.93	VB	Vanguard Small Cap	Pair Corr
0.96	IJR	iShares Core SP	Pair Corr
0.86	IWM	iShares Russell 2000	Pair Corr
0.75	VRTIX	Vanguard Russell 2000	Pair Corr
0.86	VTWO	Vanguard Russell 2000	Pair Corr
0.98	FNDA	Schwab Fundamental Small	Pair Corr
0.96	SPSM	SPDR Portfolio SP	Pair Corr
0.97	DFAS	Dimensional Small Cap	Pair Corr
0.97	VIOO	Vanguard SP Small	Pair Corr
0.94	PRFZ	Invesco FTSE RAFI	Pair Corr
0.76	VTI	Vanguard Total Stock	Pair Corr
0.71	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.71	IVV	iShares Core SP	Pair Corr
0.76	TOT	Advisor Managed Port	Pair Corr
0.89	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.76	VO	Vanguard Mid Cap	Pair Corr
0.69	SLX	VanEck Steel ETF	Pair Corr
0.77	ITDJ	iShares Trust	Pair Corr
0.8	SAWS	AAM Sawgrass Small	Pair Corr
0.7	CPER	United States Copper	Pair Corr
0.7	ZJAN	Innovator Equity Defined	Pair Corr
0.78	DFAX	Dimensional World	Pair Corr
0.67	GBUG	Sprott Active Gold	Pair Corr
0.69	EASG	Xtrackers MSCI EAFE	Pair Corr
0.77	QLC	FlexShares Quality Large	Pair Corr
0.92	SIXS	6 Meridian Small	Pair Corr
0.98	FSMD	Fidelity Small Mid	Pair Corr
0.72	SIL	Global X Silver Downward Rally	Pair Corr
0.71	VOO	Vanguard SP 500	Pair Corr

Related Correlations Analysis

	SURE	VMAX	DVYA	FDNI	AADR	ARP	EMCR	ITAN	QVOY	ITDD
SURE		0.95	0.75	-0.48	0.61	0.74	0.07	0.89	0.09	0.75	SURE
VMAX	0.95		0.74	-0.31	0.72	0.79	0.27	0.89	0.24	0.86	VMAX
DVYA	0.75	0.74		-0.73	0.26	0.9	0.3	0.93	-0.04	0.81	DVYA
FDNI	-0.48	-0.31	-0.73		0.2	-0.53	0.31	-0.58	0.36	-0.26	FDNI
AADR	0.61	0.72	0.26	0.2		0.41	0.29	0.44	0.26	0.55	AADR
ARP	0.74	0.79	0.9	-0.53	0.41		0.43	0.88	0.14	0.89	ARP
EMCR	0.07	0.27	0.3	0.31	0.29	0.43		0.34	0.36	0.63	EMCR
ITAN	0.89	0.89	0.93	-0.58	0.44	0.88	0.34		0.1	0.9	ITAN
QVOY	0.09	0.24	-0.04	0.36	0.26	0.14	0.36	0.1		0.31	QVOY
ITDD	0.75	0.86	0.81	-0.26	0.55	0.89	0.63	0.9	0.31		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

VMAX	+ 0.95	SURE
ITAN	+ 0.93	DVYA
ARP	+ 0.9	DVYA
ITDD	+ 0.9	ITAN
ITAN	+ 0.89	SURE
ITAN	+ 0.89	VMAX

High negative correlations

FDNI	- 0.73	DVYA
ITAN	- 0.58	FDNI
ARP	- 0.53	FDNI
FDNI	- 0.48	SURE
FDNI	- 0.31	VMAX
ITDD	- 0.26	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	0.60	0.00	0.00	0.08	0.69	(0.61)	1.16	(1.30)	3.16
VMAX	0.65	(0.02)	(0.02)	0.06	0.86	(0.66)	1.20	(1.61)	3.55
DVYA	0.53	0.07	0.07	0.17	0.53	(0.54)	1.08	(0.98)	2.94
FDNI	0.97	(0.23)	0.00	(0.13)	0.00	0.00	1.95	(1.87)	7.55
AADR	0.84	(0.05)	(0.03)	0.03	1.18	(0.85)	1.62	(1.93)	5.93
ARP	0.54	0.07	0.04	0.18	0.65	(0.55)	1.56	(1.25)	4.24
EMCR	0.70	(0.02)	(0.02)	0.06	0.99	(0.72)	1.20	(1.28)	5.12
ITAN	0.72	0.04	0.05	0.11	0.90	(0.71)	1.42	(1.54)	3.98
QVOY	0.91	(0.12)	0.00	(0.04)	0.00	0.00	1.52	(2.24)	9.92
ITDD	0.42	0.00	(0.04)	0.07	0.57	(0.40)	0.84	(0.86)	2.40

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