First Trust Correlations

EMDM Etf

30.87 0.13 0.42%

The current 90-days correlation between First Trust Bloomberg and Texas Capital Texas is 0.01 (i.e., Significant 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 weak diversification

The correlation between First Trust Bloomberg and DJI is 0.57 (i.e., Very weak 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 services.

Moving together with First Etf

0.64	IEMG	iShares Core MSCI	Pair Corr
0.66	EEM	iShares MSCI Emerging	Pair Corr
0.84	FNDE	Schwab Fundamental	Pair Corr
0.66	ESGE	iShares ESG Aware	Pair Corr
0.82	SFGRX	Seafarer Overseas	Pair Corr
0.81	SMH	VanEck Semiconductor ETF	Pair Corr
0.61	SPXL	Direxion Daily SP500	Pair Corr
0.8	SOXX	iShares Semiconductor ETF	Pair Corr
0.84	PSI	Invesco Dynamic Semi	Pair Corr
0.7	GUSA	Goldman Sachs MarketBeta	Pair Corr
0.89	ECOW	Pacer Emerging Markets	Pair Corr
0.77	AGEM	abrdn Emerging Markets	Pair Corr
0.72	HYSD	Columbia ETF Trust	Pair Corr
0.87	CLOX	Series Portfolios Trust	Pair Corr
0.89	ZJAN	Innovator Equity Defined	Pair Corr
0.85	CPSU	Calamos SP 500	Pair Corr
0.81	DFAX	Dimensional World	Pair Corr
0.83	FSST	Fidelity Sustainability	Pair Corr
0.61	EASG	Xtrackers MSCI EAFE	Pair Corr
0.75	FROG	Jfrog	Pair Corr
0.74	TJUL	Innovator Etfs Trust	Pair Corr
0.84	HEZU	iShares Currency Hedged	Pair Corr

Moving against First Etf

0.74	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.43	EMC	Global X Funds	Pair Corr

Related Correlations Analysis

	TXSS	JHID	LBO	SIMS	SPDG	DMCY	ASCE	EQLT	EBIT	EQRR
TXSS		-0.58	-0.37	0.27	-0.59	-0.4	-0.47	-0.15	-0.49	-0.51	TXSS
JHID	-0.58		0.46	-0.15	0.89	0.85	0.7	0.58	0.64	0.81	JHID
LBO	-0.37	0.46		-0.17	0.74	0.4	0.82	-0.01	0.87	0.79	LBO
SIMS	0.27	-0.15	-0.17		-0.08	0.29	0.03	0.58	-0.03	0.01	SIMS
SPDG	-0.59	0.89	0.74	-0.08		0.83	0.9	0.44	0.89	0.94	SPDG
DMCY	-0.4	0.85	0.4	0.29	0.83		0.73	0.8	0.66	0.77	DMCY
ASCE	-0.47	0.7	0.82	0.03	0.9	0.73		0.34	0.95	0.9	ASCE
EQLT	-0.15	0.58	-0.01	0.58	0.44	0.8	0.34		0.23	0.44	EQLT
EBIT	-0.49	0.64	0.87	-0.03	0.89	0.66	0.95	0.23		0.89	EBIT
EQRR	-0.51	0.81	0.79	0.01	0.94	0.77	0.9	0.44	0.89		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

EBIT	+ 0.95	ASCE
EQRR	+ 0.94	SPDG
ASCE	+ 0.9	SPDG
EQRR	+ 0.9	ASCE
SPDG	+ 0.89	JHID
EBIT	+ 0.89	SPDG

High negative correlations

SPDG	- 0.59	TXSS
JHID	- 0.58	TXSS
EQRR	- 0.51	TXSS
EBIT	- 0.49	TXSS
ASCE	- 0.47	TXSS
DMCY	- 0.4	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	(0.05)	0.00	1.56	0.00	0.00	1.09	(1.14)	6.73
JHID	0.48	0.07	0.08	0.17	0.42	(0.48)	0.96	(0.82)	2.65
LBO	0.90	(0.15)	0.00	(0.09)	0.00	0.00	2.09	(2.62)	6.07
SIMS	1.64	(0.11)	(0.02)	0.00	2.18	(1.65)	2.71	(3.76)	11.06
SPDG	0.56	(0.01)	(0.01)	0.05	0.66	(0.62)	1.32	(0.94)	3.04
DMCY	0.56	0.02	0.01	0.08	0.75	(0.54)	0.91	(1.15)	3.09
ASCE	0.94	(0.02)	0.00	0.04	1.16	(0.98)	1.78	(1.78)	4.59
EQLT	0.72	0.02	0.01	0.09	0.91	(0.70)	1.50	(1.30)	4.56
EBIT	0.80	(0.06)	(0.04)	0.01	0.97	(0.97)	1.89	(1.64)	4.12
EQRR	0.66	(0.01)	(0.02)	0.05	0.91	(0.65)	1.18	(1.62)	3.74

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