First Trust Correlations

FCEF Etf

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The current 90-days correlation between First Trust Income and Rareview Dynamic Fixed is 0.7 (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.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Income and DJI is 0.74 (i.e., Poor 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.

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 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 median.

Moving together with First Etf

0.93	AOM	iShares Core Moderate	Pair Corr
0.84	GDMA	Alpha Architect Gdsdn	Pair Corr
0.93	INKM	SPDR SSgA Income	Pair Corr
0.88	EAOM	iShares ESG Aware	Pair Corr
0.91	VTI	Vanguard Total Stock	Pair Corr
0.82	SPY	SPDR SP 500	Pair Corr
0.83	IVV	iShares Core SP	Pair Corr
0.89	VTV	Vanguard Value Index	Pair Corr
0.77	VO	Vanguard Mid Cap	Pair Corr
0.89	VEA	Vanguard FTSE Developed	Pair Corr
0.88	VB	Vanguard Small Cap	Pair Corr
0.61	VWO	Vanguard FTSE Emerging	Pair Corr
0.87	DVY	iShares Select Dividend	Pair Corr
0.78	SOF	Amplify Samsung SOFR	Pair Corr
0.9	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.9	XLI	Industrial Select Sector	Pair Corr
0.76	JEPY	Defiance SP 500	Pair Corr
0.76	XLY	Consumer Discretionary	Pair Corr
0.78	SGOV	iShares 0 3	Pair Corr
0.82	PDBC	Invesco Optimum Yield	Pair Corr
0.89	VOO	Vanguard SP 500	Pair Corr
0.8	QQQI	NEOS Nasdaq 100	Pair Corr
0.84	HLAL	Wahed FTSE USA	Pair Corr
0.62	INR	Infinity Natural Res	Pair Corr
0.74	WDNA	WisdomTree BioRevolution	Pair Corr
0.66	NUEM	NuShares ETF Trust	Pair Corr
0.9	BINC	BlackRock ETF Trust	Pair Corr
0.85	XLB	Materials Select Sector Aggressive Push	Pair Corr
0.72	VDE	Vanguard Energy Index	Pair Corr
0.83	SCHY	Schwab International	Pair Corr
0.85	XLBI	Select Sector SPDR	Pair Corr
0.81	DSMC	ETF Series Solutions	Pair Corr
0.79	KBE	SPDR SP Bank	Pair Corr
0.92	SCYB	Schwab Strategic Trust	Pair Corr
0.92	MGV	Vanguard Mega Cap	Pair Corr
0.84	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.91	FSYD	Fidelity Sustainable High	Pair Corr

Related Correlations Analysis

	RDFI	HYIN	GTR	AGQI	SAGP	TRND	PFI	EASG	DIVL	RSEE
RDFI		0.8	0.92	0.88	0.89	0.87	0.79	0.89	0.83	0.89	RDFI
HYIN	0.8		0.79	0.71	0.71	0.73	0.76	0.68	0.75	0.71	HYIN
GTR	0.92	0.79		0.93	0.94	0.97	0.91	0.94	0.87	0.98	GTR
AGQI	0.88	0.71	0.93		0.97	0.92	0.84	0.96	0.95	0.9	AGQI
SAGP	0.89	0.71	0.94	0.97		0.92	0.87	0.95	0.91	0.91	SAGP
TRND	0.87	0.73	0.97	0.92	0.92		0.92	0.92	0.86	0.99	TRND
PFI	0.79	0.76	0.91	0.84	0.87	0.92		0.86	0.84	0.89	PFI
EASG	0.89	0.68	0.94	0.96	0.95	0.92	0.86		0.9	0.92	EASG
DIVL	0.83	0.75	0.87	0.95	0.91	0.86	0.84	0.9		0.82	DIVL
RSEE	0.89	0.71	0.98	0.9	0.91	0.99	0.89	0.92	0.82		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	0.23	0.01	(0.32)	0.14	0.11	(0.28)	0.55	(0.34)	1.24
HYIN	0.60	(0.02)	(0.08)	0.08	0.66	(0.68)	1.32	(1.43)	3.62
GTR	0.50	(0.01)	(0.05)	0.10	0.59	(0.50)	1.12	(1.13)	2.88
AGQI	0.48	0.05	0.02	0.18	0.37	(0.55)	1.07	(0.82)	2.45
SAGP	0.62	0.03	0.03	0.15	0.53	(0.66)	1.60	(1.23)	3.15
TRND	0.48	0.01	(0.03)	0.12	0.49	(0.51)	1.07	(1.08)	2.92
PFI	0.98	(0.05)	0.00	0.07	1.35	(0.94)	2.08	(2.18)	5.65
EASG	0.61	0.03	0.01	0.15	0.63	(0.66)	1.22	(1.23)	2.82
DIVL	0.56	0.01	(0.02)	0.12	0.53	(0.63)	1.25	(1.19)	2.78
RSEE	0.75	0.01	0.02	0.12	0.89	(0.79)	1.39	(1.48)	4.44

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First Trust Correlations

First Trust Correlation With Market

Poor diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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