First Trust Correlations

FEM Etf

USD 31.26 0.37 1.20%

The current 90-days correlation between First Trust Emerging and Davis Select Worldwide is 0.15 (i.e., Average 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

Very poor diversification

The correlation between First Trust Emerging 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 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 housing.

Moving together with First Etf

0.99	VWO	Vanguard FTSE Emerging	Pair Corr
0.99	IEMG	iShares Core MSCI	Pair Corr
0.97	EMC	Global X Funds	Pair Corr
0.99	EEM	iShares MSCI Emerging	Pair Corr
0.99	SPEM	SPDR Portfolio Emerging	Pair Corr
0.97	FNDE	Schwab Fundamental	Pair Corr
0.99	ESGE	iShares ESG Aware	Pair Corr
0.98	SFGRX	Seafarer Overseas	Pair Corr
0.98	DGS	WisdomTree Emerging	Pair Corr
0.99	XSOE	WisdomTree Emerging	Pair Corr
0.66	TOT	Advisor Managed Port	Pair Corr
0.87	SHLD	Global X Defense	Pair Corr
0.79	LUX	Tema Global	Pair Corr
0.78	FB	ProShares Trust ProShares	Pair Corr
0.91	SWP	SWP Growth Income	Pair Corr
0.82	FNGD	MicroSectors FANG Index	Pair Corr
0.88	CALY	Callaway Golf Symbol Change	Pair Corr
0.93	DXJ	WisdomTree Japan Hedged	Pair Corr
0.95	SPDV	AAM SP 500	Pair Corr
0.99	UEVM	VictoryShares Emerging	Pair Corr
0.94	FTCS	First Trust Capital	Pair Corr
0.94	JEPI	JPMorgan Equity Premium	Pair Corr
0.95	DFE	WisdomTree Europe	Pair Corr
0.94	AUMI	Themes Gold Miners	Pair Corr
0.79	UAUG	Innovator Equity Ultra	Pair Corr
0.9	ERET	iShares Environmentally	Pair Corr
0.97	ESGD	iShares ESG Aware	Pair Corr
0.74	GOCT	FT Cboe Vest	Pair Corr
0.9	KNGZ	First Trust Exchange	Pair Corr
0.88	ETHO	Amplify Etho Climate	Pair Corr
0.99	CCNR	CoreCommodity Natural	Pair Corr
0.95	GCAL	Goldman Sachs ETF	Pair Corr
0.95	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.88	GPGCX	Grandeur Peak Global	Pair Corr
0.91	IJS	iShares SP Small	Pair Corr
0.8	IGEB	iShares Edge Investment	Pair Corr
0.98	DVYE	iShares Emerging Markets	Pair Corr

Moving against First Etf

0.57	HUM	Humana Inc	Pair Corr
0.44	IND	Xtrackers Nifty 500	Pair Corr
0.73	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	FNY	FEP	FEMS	FDT	FYC	DWX	FYLD	IEO	DTH	DWLD
FNY		0.85	0.83	0.79	0.98	0.65	0.69	0.4	0.76	0.79	FNY
FEP	0.85		0.93	0.96	0.84	0.9	0.92	0.63	0.97	0.76	FEP
FEMS	0.83	0.93		0.97	0.77	0.9	0.93	0.75	0.93	0.58	FEMS
FDT	0.79	0.96	0.97		0.74	0.96	0.98	0.8	0.98	0.59	FDT
FYC	0.98	0.84	0.77	0.74		0.61	0.66	0.33	0.73	0.84	FYC
DWX	0.65	0.9	0.9	0.96	0.61		0.98	0.84	0.97	0.53	DWX
FYLD	0.69	0.92	0.93	0.98	0.66	0.98		0.86	0.98	0.54	FYLD
IEO	0.4	0.63	0.75	0.8	0.33	0.84	0.86		0.78	0.16	IEO
DTH	0.76	0.97	0.93	0.98	0.73	0.97	0.98	0.78		0.63	DTH
DWLD	0.79	0.76	0.58	0.59	0.84	0.53	0.54	0.16	0.63		DWLD
	FNY	FEP	FEMS	FDT	FYC	DWX	FYLD	IEO	DTH	DWLD

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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
FNY	0.95	0.08	0.08	0.13	0.95	(1.02)	1.94	(1.87)	6.10
FEP	0.65	0.18	0.19	0.31	0.54	(0.73)	1.66	(1.41)	3.84
FEMS	0.63	0.17	0.19	0.43	0.36	(0.75)	1.59	(0.99)	3.62
FDT	0.69	0.29	0.26	0.48	0.51	(0.79)	1.91	(1.23)	4.51
FYC	1.00	0.08	0.09	0.13	0.93	(1.13)	2.21	(1.78)	5.45
DWX	0.44	0.17	0.18	(2.05)	0.22	(0.49)	1.14	(0.74)	2.63
FYLD	0.57	0.27	0.32	(1.84)	0.12	(0.71)	1.36	(1.02)	3.24
IEO	1.31	0.20	0.09	1.77	1.34	(1.37)	2.95	(2.15)	6.27
DTH	0.54	0.18	0.25	0.40	0.18	(0.65)	1.10	(0.90)	3.50
DWLD	0.68	0.08	0.02	18.31	0.88	(0.68)	1.41	(1.56)	4.55

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