First Trust Correlations

EMDM Etf

35.92 0.54 1.48%

The current 90-days correlation between First Trust Bloomberg and ProShares Equities for is 0.51 (i.e., Very weak 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 Bloomberg 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 Bloomberg 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 Bloomberg 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 Bloomberg. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with First Etf

0.95	VWO	Vanguard FTSE Emerging	Pair Corr
0.97	IEMG	iShares Core MSCI	Pair Corr
0.94	EMC	Global X Funds	Pair Corr
0.97	EEM	iShares MSCI Emerging	Pair Corr
0.96	SPEM	SPDR Portfolio Emerging	Pair Corr
0.98	FNDE	Schwab Fundamental	Pair Corr
0.97	ESGE	iShares ESG Aware	Pair Corr
0.98	SFGRX	Seafarer Overseas	Pair Corr
0.99	DGS	WisdomTree Emerging	Pair Corr
0.97	XSOE	WisdomTree Emerging	Pair Corr
0.86	CPST	Calamos ETF Trust	Pair Corr
0.92	ITDD	iShares Trust	Pair Corr
0.92	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.85	RDIV	Invesco SP Ultra	Pair Corr
0.81	VBK	Vanguard Small Cap	Pair Corr
0.84	AHYB	American Century ETF	Pair Corr
0.89	BA	Boeing	Pair Corr
0.68	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.81	INTC	Intel	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.95	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.75	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.76	MRK	Merck Company Aggressive Push	Pair Corr

Moving against First Etf

0.69	MPAY	Exchange Traded Concepts	Pair Corr
0.88	HPQ	HP Inc Aggressive Push	Pair Corr
0.75	MSFT	Microsoft	Pair Corr
0.55	MMM	3M Company	Pair Corr

Related Correlations Analysis

	TXSS	JHID	LBO	SIMS	SPDG	DMCY	ASCE	EQLT	EBIT	EQRR
TXSS		-0.62	-0.45	-0.26	-0.57	-0.69	-0.59	-0.73	-0.66	-0.65	TXSS
JHID	-0.62		0.38	0.13	0.95	0.97	0.89	0.92	0.91	0.93	JHID
LBO	-0.45	0.38		0.04	0.44	0.36	0.61	0.23	0.59	0.56	LBO
SIMS	-0.26	0.13	0.04		0.15	0.25	0.23	0.38	0.25	0.27	SIMS
SPDG	-0.57	0.95	0.44	0.15		0.93	0.93	0.83	0.92	0.93	SPDG
DMCY	-0.69	0.97	0.36	0.25	0.93		0.9	0.95	0.87	0.91	DMCY
ASCE	-0.59	0.89	0.61	0.23	0.93	0.9		0.79	0.92	0.91	ASCE
EQLT	-0.73	0.92	0.23	0.38	0.83	0.95	0.79		0.8	0.86	EQLT
EBIT	-0.66	0.91	0.59	0.25	0.92	0.87	0.92	0.8		0.94	EBIT
EQRR	-0.65	0.93	0.56	0.27	0.93	0.91	0.91	0.86	0.94		EQRR
	TXSS	JHID	LBO	SIMS	SPDG	DMCY	ASCE	EQLT	EBIT	EQRR

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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

DMCY	+ 0.97	JHID
SPDG	+ 0.95	JHID
EQLT	+ 0.95	DMCY
EQRR	+ 0.94	EBIT
EQRR	+ 0.93	JHID
DMCY	+ 0.93	SPDG

High negative correlations

EQLT	- 0.73	TXSS
DMCY	- 0.69	TXSS
EBIT	- 0.66	TXSS
EQRR	- 0.65	TXSS
JHID	- 0.62	TXSS
ASCE	- 0.59	TXSS

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
TXSS	0.39	(0.04)	0.00	0.23	0.00	0.00	1.09	(1.14)	6.73
JHID	0.50	0.18	0.26	0.39	0.16	(0.60)	1.02	(0.79)	2.65
LBO	0.91	(0.09)	0.00	(0.04)	0.00	0.00	2.06	(2.64)	7.23
SIMS	1.30	(0.14)	0.00	(0.04)	0.00	0.00	2.19	(3.76)	8.03
SPDG	0.59	0.15	0.12	30.28	0.49	(0.69)	1.49	(1.24)	3.81
DMCY	0.52	0.12	0.09	1.66	0.54	(0.56)	1.13	(1.17)	2.84
ASCE	0.94	0.09	0.03	0.69	1.04	(0.96)	1.65	(1.88)	4.59
EQLT	0.75	0.09	0.07	0.19	0.78	(0.77)	1.78	(1.56)	4.30
EBIT	0.79	0.10	0.12	0.15	0.68	(1.01)	2.22	(1.60)	4.82
EQRR	0.64	0.09	0.08	0.16	0.81	(0.65)	1.33	(1.40)	3.61

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