First Trust Correlations

FFA Etf

USD 21.92 0.08 0.36%

The current 90-days correlation between First Trust Enhanced and Flaherty and Crumrine is 0.26 (i.e., Modest 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 0.76 (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.

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 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 price.

Moving together with First Etf

0.92	VTI	Vanguard Total Stock	Pair Corr
0.88	FB	ProShares Trust ProShares	Pair Corr
0.92	TOT	Advisor Managed Port	Pair Corr
0.85	PCLN	2023 ETF	Pair Corr
0.88	VBK	Vanguard Small Cap	Pair Corr
0.86	DUKH	Ocean Park High	Pair Corr
0.92	INFO	Harbor ETF Trust	Pair Corr
0.89	XISE	FT Cboe Vest	Pair Corr
0.74	KORU	Direxion Daily South	Pair Corr
0.84	FNX	First Trust Mid	Pair Corr
0.71	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.83	FDRR	Fidelity Dividend ETF	Pair Corr
0.7	EUSB	iShares Trust	Pair Corr
0.82	DISV	Dimensional ETF Trust	Pair Corr
0.85	TAXT	Northern Trust Tax	Pair Corr
0.76	HLAL	Wahed FTSE USA	Pair Corr
0.89	GAPR	First Trust Exchange	Pair Corr
0.92	DMAY	First Trust Exchange	Pair Corr
0.82	FLXR	TCW ETF Trust	Pair Corr
0.81	EEMX	SPDR MSCI Emerging	Pair Corr
0.7	GDXU	MicroSectors Gold Miners	Pair Corr
0.73	FMF	First Trust Managed	Pair Corr

Moving against First Etf

0.72

NFLX

Netflix

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.22	-0.01	0.35	-0.12	-0.53	0.21	0.19	-0.01	0.12	META
MSFT	0.22		0.75	-0.13	0.48	-0.02	0.39	-0.13	-0.81	-0.68	MSFT
UBER	-0.01	0.75		-0.15	0.47	0.19	0.07	-0.28	-0.8	-0.52	UBER
F	0.35	-0.13	-0.15		-0.54	-0.34	0.17	0.39	0.39	0.44	F
T	-0.12	0.48	0.47	-0.54		0.46	-0.09	-0.24	-0.46	-0.64	T
A	-0.53	-0.02	0.19	-0.34	0.46		-0.19	-0.06	-0.1	-0.39	A
CRM	0.21	0.39	0.07	0.17	-0.09	-0.19		0.65	-0.13	-0.45	CRM
JPM	0.19	-0.13	-0.28	0.39	-0.24	-0.06	0.65		0.36	-0.08	JPM
MRK	-0.01	-0.81	-0.8	0.39	-0.46	-0.1	-0.13	0.36		0.68	MRK
XOM	0.12	-0.68	-0.52	0.44	-0.64	-0.39	-0.45	-0.08	0.68		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

UBER	+ 0.75	MSFT
XOM	+ 0.68	MRK
JPM	+ 0.65	CRM
T	+ 0.48	MSFT
T	+ 0.47	UBER
A	+ 0.46	T

High negative correlations

MRK	- 0.81	MSFT
MRK	- 0.8	UBER
XOM	- 0.68	MSFT
XOM	- 0.64	T
T	- 0.54	F
A	- 0.53	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	1.46	0.23	0.14	0.69	1.23	(1.79)	3.43	(2.47)	6.38
MSFT	1.24	(0.29)	0.00	(1.12)	0.00	0.00	1.85	(2.70)	4.90
UBER	1.47	(0.24)	0.00	(0.26)	0.00	0.00	2.50	(3.82)	10.23
F	1.25	0.07	0.05	0.11	1.22	(1.52)	3.38	(2.35)	7.16
T	0.88	(0.03)	0.00	(0.14)	0.00	0.00	1.63	(1.85)	4.30
A	1.19	(0.12)	0.00	0.97	0.00	0.00	2.90	(2.58)	7.85
CRM	1.53	(0.30)	0.00	(0.24)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.12	(0.11)	0.00	(0.03)	0.00	0.00	1.85	(3.11)	7.38
MRK	1.26	0.30	0.21	0.47	1.14	(1.53)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.18	0.45	0.96	(1.23)	2.38	(1.51)	5.82

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