First Trust Correlations

FCEF Etf

USD 22.97 0.02 0.09%

The current 90-days correlation between First Trust Income and Rareview Dynamic Fixed is 0.44 (i.e., Very weak 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 0.79 (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 american community survey.

Moving together with First Etf

0.61	INKM	SPDR SSgA Income	Pair Corr
0.69	MFSV	MFS Active Value	Pair Corr
0.69	ITDF	iShares Trust	Pair Corr
0.63	SDVD	FT Vest SMID	Pair Corr
0.61	CPNQ	Calamos ETF Trust	Pair Corr
0.87	FDLO	Fidelity Low Volatility	Pair Corr
0.8	CPRO	Calamos ETF Trust	Pair Corr
0.78	ICPY	RBB Fund	Pair Corr
0.86	MKAM	MKAM ETF	Pair Corr
0.64	PSMJ	Pacer Swan SOS	Pair Corr
0.76	EUSA	iShares MSCI USA	Pair Corr

Related Correlations Analysis

	RDFI	HYIN	GTR	AGQI	SAGP	TRND	PFI	EASG	DIVL	RSEE
RDFI		0.56	0.6	0.41	0.61	0.48	0.66	0.5	0.53	0.52	RDFI
HYIN	0.56		0.6	0.44	0.66	0.46	0.64	0.44	0.67	0.45	HYIN
GTR	0.6	0.6		0.6	0.84	0.94	0.85	0.9	0.62	0.96	GTR
AGQI	0.41	0.44	0.6		0.57	0.62	0.79	0.56	0.73	0.55	AGQI
SAGP	0.61	0.66	0.84	0.57		0.77	0.88	0.8	0.76	0.76	SAGP
TRND	0.48	0.46	0.94	0.62	0.77		0.82	0.88	0.57	0.98	TRND
PFI	0.66	0.64	0.85	0.79	0.88	0.82		0.76	0.81	0.79	PFI
EASG	0.5	0.44	0.9	0.56	0.8	0.88	0.76		0.64	0.88	EASG
DIVL	0.53	0.67	0.62	0.73	0.76	0.57	0.81	0.64		0.5	DIVL
RSEE	0.52	0.45	0.96	0.55	0.76	0.98	0.79	0.88	0.5		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	0.31	(0.03)	(0.12)	(0.01)	0.53	(0.35)	0.55	(0.42)	3.32
HYIN	0.59	(0.09)	0.00	(0.08)	0.00	0.00	1.19	(1.41)	3.19
GTR	0.51	(0.01)	(0.03)	0.05	0.73	(0.46)	1.12	(1.27)	2.88
AGQI	0.47	0.04	(0.02)	1.12	0.57	(0.49)	0.92	(0.99)	2.45
SAGP	0.66	(0.05)	(0.05)	0.01	1.02	(0.60)	1.18	(1.32)	3.37
TRND	0.50	0.00	(0.02)	0.06	0.76	(0.47)	1.03	(1.12)	2.91
PFI	0.99	(0.07)	(0.03)	0.01	1.52	(0.91)	2.03	(2.91)	5.65
EASG	0.62	0.02	0.01	0.08	0.84	(0.61)	1.20	(1.25)	3.51
DIVL	0.51	(0.06)	0.00	(0.01)	0.00	0.00	1.23	(1.19)	2.78
RSEE	0.78	0.00	0.01	0.06	1.22	(0.73)	1.39	(2.02)	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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