First Trust Correlations

DDIV Etf

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The current 90-days correlation between First Trust RBA and InfraCap Equity Income is 0.84 (i.e., Very 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

Very poor diversification

The correlation between First Trust RBA and DJI is 0.81 (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 Investing Opportunities 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 gross domestic product.

Moving together with First Etf

0.96	VOE	Vanguard Mid Cap	Pair Corr
0.72	SDY	SPDR SP Dividend	Pair Corr
0.83	DVY	iShares Select Dividend	Pair Corr
0.91	IWS	iShares Russell Mid	Pair Corr
0.73	FVD	First Trust Value	Pair Corr
0.93	COWZ	Pacer Cash Cows	Pair Corr
0.82	DON	WisdomTree MidCap	Pair Corr
0.93	RPV	Invesco SP 500	Pair Corr
0.78	QTJA	Innovator ETFs Trust	Pair Corr
0.64	QTOC	Innovator ETFs Trust	Pair Corr
0.8	XTOC	Innovator ETFs Trust	Pair Corr
0.85	QTAP	Innovator Growth 100	Pair Corr
0.81	XTJA	Innovator ETFs Trust	Pair Corr
0.87	XTAP	Innovator Equity Acc	Pair Corr
0.83	DFAX	Dimensional World	Pair Corr
0.7	HEZU	iShares Currency Hedged	Pair Corr
0.77	QULL	ETRACS 2x Leveraged	Pair Corr
0.63	FSST	Fidelity Sustainability	Pair Corr
0.62	SGOL	abrdn Physical Gold	Pair Corr
0.83	FTBI	First Trust Exchange	Pair Corr
0.89	HYSD	Columbia ETF Trust	Pair Corr
0.79	SCZ	iShares MSCI EAFE	Pair Corr
0.84	PBJA	PGIM Rock ETF	Pair Corr
0.85	CPSU	Calamos SP 500	Pair Corr
0.81	ZJAN	Innovator Equity Defined	Pair Corr
0.8	QLC	FlexShares Quality Large	Pair Corr
0.71	PLTM	GraniteShares Platinum	Pair Corr
0.66	VOO	Vanguard SP 500	Pair Corr
0.97	FLCV	Federated Hermes ETF	Pair Corr
0.77	FROG	Jfrog	Pair Corr

Related Correlations Analysis

	ICAP	AFSC	KEMX	VAMO	BKEM	FEDM	SPVM	GSJY	EFAD	FCA
ICAP		0.92	0.53	0.85	0.12	0.63	0.95	0.71	0.24	-0.09	ICAP
AFSC	0.92		0.55	0.9	0.14	0.69	0.91	0.64	0.33	-0.18	AFSC
KEMX	0.53	0.55		0.37	0.68	0.67	0.55	0.85	0.09	0.2	KEMX
VAMO	0.85	0.9	0.37		-0.01	0.65	0.88	0.49	0.34	-0.31	VAMO
BKEM	0.12	0.14	0.68	-0.01		0.45	0.08	0.61	0.39	0.49	BKEM
FEDM	0.63	0.69	0.67	0.65	0.45		0.7	0.68	0.51	0.21	FEDM
SPVM	0.95	0.91	0.55	0.88	0.08	0.7		0.7	0.21	-0.11	SPVM
GSJY	0.71	0.64	0.85	0.49	0.61	0.68	0.7		0.26	0.17	GSJY
EFAD	0.24	0.33	0.09	0.34	0.39	0.51	0.21	0.26		0.29	EFAD
FCA	-0.09	-0.18	0.2	-0.31	0.49	0.21	-0.11	0.17	0.29		FCA
	ICAP	AFSC	KEMX	VAMO	BKEM	FEDM	SPVM	GSJY	EFAD	FCA

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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

SPVM	+ 0.95	ICAP
AFSC	+ 0.92	ICAP
SPVM	+ 0.91	AFSC
VAMO	+ 0.9	AFSC
SPVM	+ 0.88	VAMO
VAMO	+ 0.85	ICAP

High negative correlations

FCA	- 0.31	VAMO
FCA	- 0.18	AFSC
FCA	- 0.11	SPVM
FCA	- 0.09	ICAP
BKEM	- 0.01	VAMO

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
ICAP	0.69	(0.01)	(0.02)	0.06	0.92	(0.67)	1.41	(1.41)	3.83
AFSC	0.85	(0.01)	0.00	0.06	1.09	(0.86)	1.72	(1.65)	5.14
KEMX	0.88	0.06	0.04	0.14	1.08	(0.91)	1.71	(1.53)	7.75
VAMO	0.59	(0.01)	(0.03)	0.06	0.70	(0.64)	1.41	(1.33)	3.35
BKEM	0.69	(0.01)	(0.03)	0.06	0.86	(0.79)	1.61	(1.19)	5.48
FEDM	0.79	0.02	0.01	0.09	0.98	(0.77)	1.88	(1.66)	5.39
SPVM	0.58	0.02	0.01	0.09	0.69	(0.63)	1.43	(1.03)	3.69
GSJY	0.71	(0.01)	(0.01)	0.06	1.08	(0.72)	1.71	(1.69)	5.94
EFAD	0.58	(0.07)	0.00	(0.04)	0.00	0.00	0.81	(1.32)	2.94
FCA	0.96	(0.01)	(0.02)	0.06	1.54	(0.87)	1.91	(2.10)	6.59

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