First Trust Correlations

FCEF Etf

USD 23.58 0.19 0.81%

The current 90-days correlation between First Trust Income and Collaborative Investment Series is 0.85 (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.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust Income and DJI is 0.9 (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 Income and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Income. 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

0.97	AOM	iShares Core Moderate	Pair Corr
0.95	GDMA	Alpha Architect Gdsdn	Pair Corr
0.97	INKM	SPDR SSgA Income	Pair Corr
0.96	EAOM	iShares ESG Aware	Pair Corr
0.86	VTI	Vanguard Total Stock	Pair Corr
0.84	SPY	SPDR SP 500	Pair Corr
0.84	IVV	iShares Core SP	Pair Corr
0.71	BND	Vanguard Total Bond	Pair Corr
0.96	VTV	Vanguard Value Index	Pair Corr
0.9	VO	Vanguard Mid Cap	Pair Corr
0.97	VEA	Vanguard FTSE Developed	Pair Corr
0.94	VB	Vanguard Small Cap	Pair Corr
0.91	VWO	Vanguard FTSE Emerging	Pair Corr
0.79	LBAY	Tidal ETF Trust	Pair Corr
0.92	SJNK	SPDR Bloomberg Short	Pair Corr
0.92	HYRM	DBX ETF Trust	Pair Corr
0.94	WCMI	First Trust Exchange	Pair Corr
0.92	GJUN	First Trust Exchange	Pair Corr
0.94	GREK	Global X MSCI	Pair Corr
0.94	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.9	BCI	abrdn Bloomberg All	Pair Corr
0.86	HTUS	Capitol Series Trust	Pair Corr
0.76	OILT	Texas Capital Funds	Pair Corr
0.8	HYKE	ETF Series Solutions	Pair Corr
0.85	SCHB	Schwab Broad Market	Pair Corr
0.84	ASTX	Tradr 2X Long Buyout Trend	Pair Corr
0.92	AGMI	Themes Silver Miners	Pair Corr
0.8	XRT	SPDR SP Retail	Pair Corr
0.95	EAFG	Pacer Funds Trust	Pair Corr
0.94	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	SIVR	abrdn Physical Silver	Pair Corr
0.91	MTBA	Simplify Exchange Traded	Pair Corr
0.81	AXSAX	Axonic Strategic Income	Pair Corr
0.72	LGDX	Intech SP Large	Pair Corr
0.94	VEMY	Virtus ETF Trust	Pair Corr
0.93	SPBX	AIM ETF Products	Pair Corr
0.96	EFA	iShares MSCI EAFE Aggressive Push	Pair Corr
0.92	TOCT	Innovator Equity Defined	Pair Corr

Related Correlations Analysis

	RDFI	HYIN	GTR	AGQI	SAGP	TRND	PFI	EASG	DIVL	RSEE
RDFI		0.51	0.88	0.96	0.9	0.88	0.57	0.95	0.96	0.88	RDFI
HYIN	0.51		0.73	0.58	0.71	0.74	0.74	0.6	0.5	0.73	HYIN
GTR	0.88	0.73		0.93	0.96	0.99	0.85	0.95	0.88	0.99	GTR
AGQI	0.96	0.58	0.93		0.96	0.94	0.66	0.98	0.98	0.93	AGQI
SAGP	0.9	0.71	0.96	0.96		0.96	0.77	0.96	0.9	0.95	SAGP
TRND	0.88	0.74	0.99	0.94	0.96		0.84	0.95	0.89	0.99	TRND
PFI	0.57	0.74	0.85	0.66	0.77	0.84		0.72	0.61	0.81	PFI
EASG	0.95	0.6	0.95	0.98	0.96	0.95	0.72		0.95	0.96	EASG
DIVL	0.96	0.5	0.88	0.98	0.9	0.89	0.61	0.95		0.87	DIVL
RSEE	0.88	0.73	0.99	0.93	0.95	0.99	0.81	0.96	0.87		RSEE
	RDFI	HYIN	GTR	AGQI	SAGP	TRND	PFI	EASG	DIVL	RSEE

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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
RDFI	0.26	0.04	(0.10)	0.37	0.10	(0.30)	0.65	(0.41)	1.99
HYIN	0.64	(0.06)	0.00	(0.03)	0.00	0.00	1.26	(1.54)	4.68
GTR	0.53	(0.01)	(0.05)	0.06	0.64	(0.50)	1.12	(1.13)	2.88
AGQI	0.50	0.09	0.09	0.21	0.38	(0.58)	1.19	(0.99)	2.42
SAGP	0.63	0.03	0.03	0.12	0.69	(0.62)	1.62	(1.31)	3.80
TRND	0.52	(0.01)	(0.04)	0.07	0.62	(0.55)	1.09	(1.12)	2.68
PFI	0.96	(0.05)	(0.02)	0.04	1.30	(0.92)	2.08	(2.18)	4.81
EASG	0.67	0.06	0.05	0.15	0.74	(0.70)	1.42	(1.25)	3.16
DIVL	0.58	0.12	0.15	0.24	0.39	(0.69)	1.35	(1.12)	2.81
RSEE	0.82	(0.02)	(0.01)	0.06	1.09	(0.81)	1.73	(2.02)	4.38

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First Trust Correlations

First Trust Correlation With Market

Almost no diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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