First Trust Correlations

FCEF Etf

USD 23.76 0.05 0.21%

The current 90-days correlation between First Trust Income and SPDR SP SmallCap is 0.61 (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

Very poor diversification

The correlation between First Trust Income and DJI is 0.83 (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 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 housing.

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
0.97	EAOM	iShares ESG Aware	Pair Corr
0.94	KORU	Direxion Daily South	Pair Corr
0.93	MUU	Direxion Daily MU	Pair Corr
0.93	MULL	GraniteShares 2x Long	Pair Corr
0.76	GDXU	MicroSectors Gold Miners	Pair Corr
0.86	FNGD	MicroSectors FANG Index	Pair Corr
0.82	JNUG	Direxion Daily Junior	Pair Corr
0.85	NUGT	Direxion Daily Gold	Pair Corr
0.86	BWET	ETF Managers Group	Pair Corr
0.84	SLVR	Sprott Silver Miners	Pair Corr
0.95	JHSC	John Hancock Multifactor	Pair Corr
0.8	JHCB	John Hancock Exchange	Pair Corr
0.65	IEI	iShares 3 7	Pair Corr
0.97	MFEM	PIMCO RAFI Dynamic	Pair Corr
0.93	JLQD	Janus Henderson Corporate	Pair Corr
0.82	JRE	Janus Henderson Real	Pair Corr
0.84	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.9	UTWO	Rbb Fund	Pair Corr
0.94	RJVI	Carillon Series Trust	Pair Corr
0.96	QIDX	Spinnaker ETF Series	Pair Corr
0.96	FLMX	Franklin FTSE Mexico	Pair Corr
0.98	CWI	SPDR MSCI ACWI	Pair Corr
0.83	HTAB	Hartford Schroders Tax	Pair Corr
0.79	IAT	iShares Regional Banks	Pair Corr
0.96	FLAU	Franklin FTSE Australia	Pair Corr
0.97	FLGB	Franklin FTSE United	Pair Corr
0.74	WTMF	WisdomTree Managed	Pair Corr
0.9	IRET	iREIT MarketVector	Pair Corr
0.96	GCOW	Pacer Global Cash Low Volatility	Pair Corr
0.85	HYD	VanEck High Yield	Pair Corr
0.94	IWR	iShares Russell Mid	Pair Corr
0.67	LGCF	Themes Cash Flow	Pair Corr
0.98	FLTW	Franklin FTSE Taiwan	Pair Corr
0.98	OAEM	OneAscent Emerging	Pair Corr
0.95	TBIL	Rbb Fund	Pair Corr

Related Correlations Analysis

	EAOK	MCDS	INDH	SNPD	ESMV	BERZ	LQAI	NSCR	SCDS	ESIX
EAOK		0.95	-0.53	0.93	0.94	0.16	0.83	0.03	0.87	0.87	EAOK
MCDS	0.95		-0.53	0.92	0.91	0.12	0.77	0.07	0.93	0.95	MCDS
INDH	-0.53	-0.53		-0.59	-0.46	0.03	-0.41	0.03	-0.69	-0.6	INDH
SNPD	0.93	0.92	-0.59		0.89	0.39	0.68	-0.2	0.89	0.92	SNPD
ESMV	0.94	0.91	-0.46	0.89		0.19	0.79	0.03	0.81	0.83	ESMV
BERZ	0.16	0.12	0.03	0.39	0.19		-0.25	-0.89	-0.02	0.13	BERZ
LQAI	0.83	0.77	-0.41	0.68	0.79	-0.25		0.4	0.79	0.7	LQAI
NSCR	0.03	0.07	0.03	-0.2	0.03	-0.89	0.4		0.17	0.05	NSCR
SCDS	0.87	0.93	-0.69	0.89	0.81	-0.02	0.79	0.17		0.97	SCDS
ESIX	0.87	0.95	-0.6	0.92	0.83	0.13	0.7	0.05	0.97		ESIX
	EAOK	MCDS	INDH	SNPD	ESMV	BERZ	LQAI	NSCR	SCDS	ESIX

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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

ESIX	+ 0.97	SCDS
MCDS	+ 0.95	EAOK
ESIX	+ 0.95	MCDS
ESMV	+ 0.94	EAOK
SNPD	+ 0.93	EAOK
SCDS	+ 0.93	MCDS

High negative correlations

NSCR	- 0.89	BERZ
SCDS	- 0.69	INDH
ESIX	- 0.6	INDH
SNPD	- 0.59	INDH
INDH	- 0.53	MCDS
INDH	- 0.53	EAOK

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
EAOK	0.19	0.03	(0.11)	0.19	0.00	(0.23)	0.48	(0.36)	1.35
MCDS	0.59	0.07	0.09	0.15	0.48	(0.67)	1.44	(1.04)	4.21
INDH	0.55	(0.09)	0.00	(0.11)	0.00	0.00	0.93	(1.38)	4.08
SNPD	0.51	0.15	0.17	0.34	0.34	(0.59)	1.25	(1.02)	2.85
ESMV	0.38	0.03	(0.02)	0.14	0.35	(0.42)	0.95	(0.76)	2.26
BERZ	3.58	0.08	0.00	0.05	0.00	0.00	8.97	(6.93)	24.13
LQAI	0.60	0.04	0.01	0.13	0.66	(0.68)	1.13	(1.08)	5.62
NSCR	0.62	(0.04)	(0.06)	0.03	0.78	(0.64)	1.12	(1.36)	3.91
SCDS	0.77	0.07	0.08	0.14	0.70	(0.84)	1.77	(1.57)	4.79
ESIX	0.86	0.05	0.07	0.12	0.86	(1.02)	2.56	(1.78)	6.36

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