First Trust Correlations

FFA Etf

USD 20.82 0.03 0.14%

The current 90-days correlation between First Trust Enhanced and Blackrock Muni Intermediate is 0.06 (i.e., Significant 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 Enhanced and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Enhanced and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Enhanced. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with First Etf

0.88	ITDD	iShares Trust	Pair Corr
0.95	OEF	iShares SP 100	Pair Corr
0.89	DIVG	Invesco Exchange Traded	Pair Corr
0.93	VONG	Vanguard Russell 1000	Pair Corr
0.94	VIS	Vanguard Industrials	Pair Corr
0.88	DSTL	Distillate Fundamental	Pair Corr
0.91	SCHD	Schwab Dividend Equity	Pair Corr
0.92	PUTW	WisdomTree CBOE SP	Pair Corr
0.94	XLK	Technology Select Sector	Pair Corr
0.76	MSTY	YieldMax MSTR Option	Pair Corr
0.8	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.96	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.74	IDU	iShares Utilities ETF	Pair Corr
0.73	DISO	Tidal Trust II Potential Growth	Pair Corr
0.78	IDGT	iShares Trust Symbol Change	Pair Corr
0.71	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.68	ETH	Grayscale Ethereum Mini Downward Rally	Pair Corr
0.85	MAGS	Roundhill Magnificent	Pair Corr
0.95	DIVB	iShares Dividend	Pair Corr
0.94	VTI	Vanguard Total Stock	Pair Corr
0.71	BTC	Grayscale Bitcoin Mini	Pair Corr
0.87	FDN	First Trust Dow	Pair Corr
0.8	USFR	WisdomTree Floating Rate	Pair Corr
0.84	XLC	Communication Services	Pair Corr
0.71	IBIT	iShares Bitcoin Trust	Pair Corr
0.88	BUG	Global X Cybersecurity	Pair Corr
0.96	VOO	Vanguard SP 500	Pair Corr
0.78	WGMI	Valkyrie Bitcoin Miners	Pair Corr

Moving against First Etf

0.52	HART	IQ Healthy Hearts	Pair Corr
0.49	IG	Principal Exchange	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	-0.01	0.59	0.02	0.66	0.28	-0.55	0.71	META
MSFT	0.28		0.24	0.11	0.18	-0.01	0.01	-0.17	0.12	-0.19	MSFT
UBER	0.56	0.24		-0.03	0.0	0.26	0.03	-0.11	0.05	0.36	UBER
F	-0.01	0.11	-0.03		0.06	-0.38	0.4	0.65	-0.28	0.3	F
T	0.59	0.18	0.0	0.06		-0.5	0.75	0.52	-0.77	0.38	T
A	0.02	-0.01	0.26	-0.38	-0.5		-0.48	-0.64	0.64	-0.01	A
CRM	0.66	0.01	0.03	0.4	0.75	-0.48		0.84	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.11	0.65	0.52	-0.64	0.84		-0.83	0.51	JPM
MRK	-0.55	0.12	0.05	-0.28	-0.77	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.36	0.3	0.38	-0.01	0.68	0.51	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.84	CRM
CRM	+ 0.75	T
XOM	+ 0.71	META
XOM	+ 0.68	CRM
CRM	+ 0.66	META
JPM	+ 0.65	F

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.77	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.55	META

First Trust Competition 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
META	1.06	0.02	(0.01)	0.15	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.83)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.25	(1.79)	2.69	(2.44)	20.10
F	1.41	(0.13)	(0.03)	0.03	2.20	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.13	(10.00)	0.86	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.26	0.21	0.35	0.91	(1.51)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.88	(0.24)	0.00	(0.81)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.03	0.00	(0.04)	0.12	1.25	(1.10)	2.14	(2.09)	5.78

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