First Trust Correlations

AIRR Etf

USD 118.50 5.01 4.41%

The current 90-days correlation between First Trust RBA and iShares Biotechnology ETF is 0.36 (i.e., Weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust RBA and DJI is 0.88 (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 RBA 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 RBA. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with First Etf

0.98	XLI	Industrial Select Sector Aggressive Push	Pair Corr
0.86	DRVN	Driven Brands Holdings	Pair Corr
0.91	ITA	iShares Aerospace Defense	Pair Corr
0.99	VIS	Vanguard Industrials	Pair Corr
0.78	JETS	US Global Jets	Pair Corr
0.97	FXR	First Trust Industri	Pair Corr
0.95	PPA	Invesco Aerospace Defense	Pair Corr
0.95	IYJ	iShares Industrials ETF Low Volatility	Pair Corr
0.87	IYT	iShares Transportation Low Volatility	Pair Corr
0.99	FIDU	Fidelity MSCI Industrials	Pair Corr
0.93	DLN	WisdomTree LargeCap	Pair Corr
0.87	CEF	Sprott Physical Gold	Pair Corr
0.81	VTI	Vanguard Total Stock	Pair Corr
0.96	VPL	Vanguard FTSE Pacific	Pair Corr
0.63	PSP	Invesco Global Listed	Pair Corr
0.74	RWR	SPDR Dow Jones	Pair Corr
0.96	SPMD	SPDR Russell Small	Pair Corr
0.75	SEIX	Virtus ETF Trust	Pair Corr
0.88	MART	Allianzim Large Cap	Pair Corr
0.63	BND	Vanguard Total Bond	Pair Corr
0.88	OASC	OneAscent Small Cap	Pair Corr
0.88	RDIV	Invesco SP Ultra	Pair Corr
0.89	VBK	Vanguard Small Cap	Pair Corr
0.91	BINC	BlackRock ETF Trust	Pair Corr
0.87	AHYB	American Century ETF	Pair Corr
0.87	GAPR	First Trust Exchange	Pair Corr

Related Correlations Analysis

	TCAF	KBWB	BBUS	EWT	FDL	FELC	BBIN	VOOV	ESGE	IBB
TCAF		0.19	0.7	0.34	-0.02	0.62	0.28	0.3	0.32	0.23	TCAF
KBWB	0.19		0.78	0.7	0.81	0.82	0.88	0.92	0.68	0.69	KBWB
BBUS	0.7	0.78		0.73	0.57	0.99	0.78	0.83	0.69	0.59	BBUS
EWT	0.34	0.7	0.73		0.83	0.7	0.93	0.85	0.98	0.54	EWT
FDL	-0.02	0.81	0.57	0.83		0.59	0.93	0.92	0.84	0.69	FDL
FELC	0.62	0.82	0.99	0.7	0.59		0.78	0.83	0.66	0.6	FELC
BBIN	0.28	0.88	0.78	0.93	0.93	0.78		0.96	0.93	0.68	BBIN
VOOV	0.3	0.92	0.83	0.85	0.92	0.83	0.96		0.84	0.72	VOOV
ESGE	0.32	0.68	0.69	0.98	0.84	0.66	0.93	0.84		0.55	ESGE
IBB	0.23	0.69	0.59	0.54	0.69	0.6	0.68	0.72	0.55		IBB
	TCAF	KBWB	BBUS	EWT	FDL	FELC	BBIN	VOOV	ESGE	IBB

Please upgrade your account to get full access to Macroaxis premium features

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

FELC	+ 0.99	BBUS
ESGE	+ 0.98	EWT
VOOV	+ 0.96	BBIN
BBIN	+ 0.93	EWT
BBIN	+ 0.93	FDL
ESGE	+ 0.93	BBIN

High negative correlations

FDL

- 0.02

TCAF

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
TCAF	0.56	(0.10)	0.00	(0.06)	0.00	0.00	1.15	(1.31)	3.49
KBWB	0.90	0.16	0.16	0.22	0.82	(1.02)	2.33	(1.67)	4.76
BBUS	0.58	(0.06)	(0.09)	0.01	0.81	(0.56)	1.10	(1.27)	3.60
EWT	1.01	0.07	0.04	0.16	1.25	(0.99)	1.95	(2.19)	4.93
FDL	0.63	0.24	0.33	0.62	0.00	(0.75)	1.71	(0.96)	2.77
FELC	0.58	(0.05)	(0.07)	0.02	0.80	(0.55)	1.14	(1.21)	3.57
BBIN	0.64	0.09	0.09	0.20	0.68	(0.66)	1.31	(1.38)	3.26
VOOV	0.53	0.04	0.02	0.13	0.49	(0.58)	1.01	(0.99)	3.07
ESGE	0.72	0.07	0.05	0.19	0.69	(0.78)	1.86	(1.41)	4.92
IBB	1.00	0.10	0.07	0.22	0.87	(1.15)	2.60	(1.68)	5.75

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC