First Trust Correlations

DDIV Etf

USD 43.89 0.39 0.88%

The current 90-days correlation between First Trust RBA and ETF Series Solutions is 0.73 (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

Almost no diversification

The correlation between First Trust RBA and DJI is 0.96 (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 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

0.95	VOE	Vanguard Mid Cap	Pair Corr
0.85	SDY	SPDR SP Dividend	Pair Corr
0.86	DVY	iShares Select Dividend	Pair Corr
0.96	IWS	iShares Russell Mid	Pair Corr
0.84	FVD	First Trust Value	Pair Corr
0.87	SPYD	SPDR Portfolio SP	Pair Corr
0.98	COWZ	Pacer Cash Cows	Pair Corr
0.97	IJJ	iShares SP Mid	Pair Corr
0.94	DON	WisdomTree MidCap	Pair Corr
0.95	RPV	Invesco SP 500	Pair Corr
0.95	WSML	iShares MSCI World	Pair Corr
0.93	PULS	PGIM Ultra Short	Pair Corr
0.97	CPSR	Calamos SP 500	Pair Corr
0.96	AHYB	American Century ETF	Pair Corr
0.8	RDIV	Invesco SP Ultra	Pair Corr
0.93	AA	Alcoa Corp	Pair Corr
0.62	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.88	WMT	Walmart Common Stock	Pair Corr
0.83	CAT	Caterpillar	Pair Corr
0.72	INTC	Intel	Pair Corr
0.89	BA	Boeing	Pair Corr
0.79	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.73	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.68	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.87	MRK	Merck Company	Pair Corr

Moving against First Etf

0.85	JEM	707 Cayman Holdings	Pair Corr
0.78	MPAY	Exchange Traded Concepts	Pair Corr
0.49	SWIN	Alps Symbol Change	Pair Corr

Related Correlations Analysis

	EQLT	ASCE	LBO	ERET	JHID	EBIT	SEA	DMCY	WAR
EQLT		0.8	-0.02	0.89	0.95	0.85	0.95	0.97	0.9	EQLT
ASCE	0.8		0.42	0.71	0.88	0.95	0.82	0.9	0.92	ASCE
LBO	-0.02	0.42		-0.2	0.03	0.24	-0.1	0.12	0.35	LBO
ERET	0.89	0.71	-0.2		0.89	0.83	0.93	0.87	0.72	ERET
JHID	0.95	0.88	0.03	0.89		0.92	0.97	0.98	0.89	JHID
EBIT	0.85	0.95	0.24	0.83	0.92		0.9	0.91	0.88	EBIT
SEA	0.95	0.82	-0.1	0.93	0.97	0.9		0.95	0.83	SEA
DMCY	0.97	0.9	0.12	0.87	0.98	0.91	0.95		0.94	DMCY
WAR	0.9	0.92	0.35	0.72	0.89	0.88	0.83	0.94		WAR
	EQLT	ASCE	LBO	ERET	JHID	EBIT	SEA	DMCY	WAR

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

DMCY	+ 0.98	JHID
DMCY	+ 0.97	EQLT
SEA	+ 0.97	JHID
JHID	+ 0.95	EQLT
SEA	+ 0.95	EQLT
EBIT	+ 0.95	ASCE

High negative correlations

ERET	- 0.2	LBO
SEA	- 0.1	LBO
LBO	- 0.02	EQLT

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
EQLT	0.78	0.11	0.09	0.23	0.69	(0.85)	1.81	(1.38)	4.30
ASCE	0.92	0.04	0.05	0.12	0.94	(1.01)	1.65	(1.88)	4.52
LBO	1.03	(0.12)	0.00	(0.02)	0.00	0.00	2.17	(3.13)	7.23
ERET	0.45	0.10	0.08	0.35	0.31	(0.47)	1.14	(0.72)	2.74
JHID	0.53	0.19	0.24	0.41	0.19	(0.64)	1.21	(0.79)	3.46
EBIT	0.81	0.08	0.11	0.16	0.64	(1.07)	2.39	(1.60)	4.82
SEA	0.65	0.17	0.14	0.35	0.61	(0.73)	1.50	(1.29)	3.52
DMCY	0.54	0.09	0.08	0.22	0.49	(0.59)	1.13	(1.12)	2.84
WAR	1.32	0.02	0.03	0.10	1.64	(1.42)	2.54	(2.71)	7.85

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