First Trust Correlations

FEM Etf

USD 27.82 0.47 1.72%

The current 90-days correlation between First Trust Emerging and First Trust Mid is 0.58 (i.e., Very weak 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 Emerging moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust Emerging and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Emerging 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 Emerging. 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

0.77	FNDE	Schwab Fundamental	Pair Corr
0.73	SFGRX	Seafarer Overseas	Pair Corr
0.63	XSOE	WisdomTree Emerging	Pair Corr
0.74	ITDD	iShares Trust	Pair Corr
0.71	JPM	JPMorgan Chase	Pair Corr

Moving against First Etf

0.47	HPQ	HP Inc	Pair Corr
0.39	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FNY	FEP	FEMS	FDT	FYC	DWX	FYLD	IEO	DTH	DWLD
FNY		0.44	0.43	0.26	0.74	0.19	0.12	-0.25	0.21	0.51	FNY
FEP	0.44		0.28	0.89	0.76	0.86	0.82	0.08	0.9	0.94	FEP
FEMS	0.43	0.28		0.03	0.1	0.02	0.17	0.29	0.17	0.36	FEMS
FDT	0.26	0.89	0.03		0.76	0.9	0.91	0.28	0.94	0.89	FDT
FYC	0.74	0.76	0.1	0.76		0.67	0.63	-0.07	0.69	0.81	FYC
DWX	0.19	0.86	0.02	0.9	0.67		0.84	0.16	0.92	0.81	DWX
FYLD	0.12	0.82	0.17	0.91	0.63	0.84		0.39	0.96	0.86	FYLD
IEO	-0.25	0.08	0.29	0.28	-0.07	0.16	0.39		0.27	0.17	IEO
DTH	0.21	0.9	0.17	0.94	0.69	0.92	0.96	0.27		0.91	DTH
DWLD	0.51	0.94	0.36	0.89	0.81	0.81	0.86	0.17	0.91		DWLD
	FNY	FEP	FEMS	FDT	FYC	DWX	FYLD	IEO	DTH	DWLD

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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

DTH	+ 0.96	FYLD
DWLD	+ 0.94	FEP
DTH	+ 0.94	FDT
DTH	+ 0.92	DWX
FYLD	+ 0.91	FDT
DWLD	+ 0.91	DTH

High negative correlations

IEO	- 0.25	FNY
IEO	- 0.07	FYC

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
FNY	1.08	(0.01)	(0.04)	0.00	1.44	(1.03)	1.94	(2.29)	6.47
FEP	0.60	0.06	0.05	0.14	0.67	(0.63)	1.22	(1.41)	2.87
FEMS	0.63	(0.05)	0.00	(5.04)	0.00	0.00	1.28	(1.53)	3.56
FDT	0.65	0.07	0.05	0.14	0.87	(0.59)	1.22	(1.61)	3.39
FYC	1.16	0.07	0.02	0.40	1.34	(1.29)	2.34	(2.27)	6.10
DWX	0.41	0.04	0.01	0.14	0.46	(0.42)	0.73	(0.93)	2.63
FYLD	0.54	0.07	0.02	11.70	0.67	(0.56)	1.03	(0.97)	3.19
IEO	1.18	(0.05)	0.00	(0.02)	0.00	0.00	2.17	(2.15)	7.00
DTH	0.47	0.07	0.05	0.43	0.45	(0.51)	0.99	(0.87)	2.10
DWLD	0.67	0.04	0.00	0.17	0.94	(0.64)	1.44	(1.54)	4.16

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