First Trust Correlations

AIRR Etf

USD 109.69 0.82 0.75%

The current 90-days correlation between First Trust RBA and T Rowe Price is 0.71 (i.e., Poor 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

Poor diversification

The correlation between First Trust RBA and DJI is 0.75 (i.e., 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 real.

Moving together with First Etf

0.96	XLI	Industrial Select Sector	Pair Corr
0.85	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.98	VIS	Vanguard Industrials	Pair Corr
0.77	JETS	US Global Jets	Pair Corr
0.95	FXR	First Trust Industri	Pair Corr
0.88	PPA	Invesco Aerospace Defense	Pair Corr
0.94	IYJ	iShares Industrials ETF	Pair Corr
0.84	IYT	iShares Transportation	Pair Corr
0.98	FIDU	Fidelity MSCI Industrials	Pair Corr
0.69	GLDX	USCF Gold Strategy	Pair Corr
0.82	HBTA	Horizon Funds	Pair Corr
0.72	FDV	First Trust Capital	Pair Corr
0.67	TRSY	Xtrackers 0 1	Pair Corr
0.78	JEPI	JPMorgan Equity Premium	Pair Corr
0.68	BAC	Bank of America	Pair Corr
0.65	JPM	JPMorgan Chase	Pair Corr
0.84	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.7	BA	Boeing	Pair Corr
0.66	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.69	INTC	Intel Aggressive Push	Pair Corr

Moving against First Etf

0.65	AAIAX	AMERICAN BEACON INTE	Pair Corr
0.44	GAICX	GATEWAY INTERNATIONAL	Pair Corr
0.7	T	ATT Inc	Pair Corr
0.56	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.42	HPQ	HP Inc	Pair Corr
0.39	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	TCAF	KBWB	BBUS	EWT	FDL	FELC	BBIN	VOOV	ESGE	IBB
TCAF		0.3	0.63	0.72	0.3	0.74	0.52	0.58	0.69	0.21	TCAF
KBWB	0.3		0.73	0.51	0.92	0.82	0.91	0.92	0.6	0.77	KBWB
BBUS	0.63	0.73		0.68	0.67	0.88	0.79	0.83	0.69	0.54	BBUS
EWT	0.72	0.51	0.68		0.49	0.73	0.75	0.67	0.92	0.16	EWT
FDL	0.3	0.92	0.67	0.49		0.74	0.91	0.92	0.63	0.81	FDL
FELC	0.74	0.82	0.88	0.73	0.74		0.86	0.92	0.74	0.64	FELC
BBIN	0.52	0.91	0.79	0.75	0.91	0.86		0.96	0.83	0.63	BBIN
VOOV	0.58	0.92	0.83	0.67	0.92	0.92	0.96		0.76	0.75	VOOV
ESGE	0.69	0.6	0.69	0.92	0.63	0.74	0.83	0.76		0.38	ESGE
IBB	0.21	0.77	0.54	0.16	0.81	0.64	0.63	0.75	0.38		IBB
	TCAF	KBWB	BBUS	EWT	FDL	FELC	BBIN	VOOV	ESGE	IBB

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

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	0.53	(0.05)	(0.10)	0.05	0.61	(0.54)	1.02	(1.30)	2.97
KBWB	0.87	0.08	0.10	0.17	0.97	(0.98)	2.19	(1.55)	5.56
BBUS	0.58	0.03	(0.07)	0.34	0.85	(0.54)	1.24	(1.15)	3.20
EWT	0.94	0.07	0.05	0.18	1.11	(0.93)	1.85	(2.17)	7.85
FDL	0.57	0.09	0.06	0.28	0.35	(0.63)	1.61	(0.97)	2.77
FELC	0.56	(0.01)	(0.04)	0.09	0.67	(0.57)	1.25	(1.11)	3.21
BBIN	0.55	0.06	0.05	0.19	0.46	(0.59)	1.20	(1.02)	2.35
VOOV	0.52	0.02	(0.01)	0.14	0.42	(0.59)	0.99	(0.95)	2.46
ESGE	0.70	0.09	0.07	0.24	0.55	(0.80)	1.70	(1.30)	4.79
IBB	0.89	0.14	0.11	0.32	0.73	(1.02)	2.33	(1.35)	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