First Trust Correlations

FFA Etf

USD 21.96 0.04 0.18%

The current 90-days correlation between First Trust Enhanced and Flaherty and Crumrine is 0.5 (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

Very poor diversification

The correlation between First Trust Enhanced and DJI is 0.89 (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 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 various price indices.

Moving together with First Etf

0.61	DHF	BNY Mellon High	Pair Corr
0.77	ARP	Advisors Inner Circle	Pair Corr
0.7	PXMV	Invesco SP MidCap	Pair Corr
0.83	IGA	Voya Global Advantage	Pair Corr
0.74	SEMI	Columbia Seligman	Pair Corr
0.93	PNOV	Innovator SP 500	Pair Corr
0.82	VTV	Vanguard Value Index	Pair Corr
0.76	LJUL	Innovator Premium Income	Pair Corr
0.88	NIHI	NEOS MSCI EAFE	Pair Corr
0.93	BSTP	Innovator Buffer Step	Pair Corr
0.74	SPIB	SPDR Barclays Interm	Pair Corr
0.84	IWD	iShares Russell 1000	Pair Corr
0.8	DVXB	WEBs Defined Volatility	Pair Corr
0.9	QPX	AdvisorShares Q Dynamic	Pair Corr
0.76	BSJQ	Invesco BulletShares 2026	Pair Corr
0.86	SPHQ	Invesco SP 500	Pair Corr
0.86	FTBI	First Trust Exchange	Pair Corr
0.86	FB	ProShares Trust ProShares	Pair Corr
0.73	WBIY	Absolute Shares Trust	Pair Corr
0.75	QMID	WisdomTree MidCap Quality	Pair Corr
0.76	TAXS	Northern Trust Short	Pair Corr
0.86	QTJA	Innovator ETFs Trust	Pair Corr
0.79	PBP	Invesco SP 500	Pair Corr
0.89	DMXF	iShares ESG Advanced	Pair Corr
0.66	SGOL	abrdn Physical Gold	Pair Corr
0.76	FJP	First Trust Japan	Pair Corr
0.61	XHB	SPDR SP Homebuilders	Pair Corr
0.61	BBP	Virtus LifeSci Biotech Potential Growth	Pair Corr
0.84	PMAP	PGIM SP 500	Pair Corr
0.61	NYM	AB Active ETFs	Pair Corr

Moving against First Etf

0.56

ENTR

EntrepreneurShares

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.16	-0.03	0.2	0.05	-0.35	0.25	0.14	0.04	0.16	META
MSFT	0.16		0.74	-0.55	0.28	0.35	0.44	-0.02	-0.8	-0.72	MSFT
UBER	-0.03	0.74		-0.48	0.33	0.52	0.1	-0.2	-0.8	-0.53	UBER
F	0.2	-0.55	-0.48		-0.52	-0.28	0.0	0.4	0.7	0.66	F
T	0.05	0.28	0.33	-0.52		0.46	-0.25	-0.27	-0.37	-0.38	T
A	-0.35	0.35	0.52	-0.28	0.46		-0.07	-0.06	-0.33	-0.56	A
CRM	0.25	0.44	0.1	0.0	-0.25	-0.07		0.69	-0.15	-0.5	CRM
JPM	0.14	-0.02	-0.2	0.4	-0.27	-0.06	0.69		0.29	-0.13	JPM
MRK	0.04	-0.8	-0.8	0.7	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.16	-0.72	-0.53	0.66	-0.38	-0.56	-0.5	-0.13	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	+ 0.74	MSFT
MRK	+ 0.7	F
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
XOM	+ 0.66	F
A	+ 0.52	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.56	A
F	- 0.55	MSFT
XOM	- 0.53	UBER

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	1.61	(0.08)	0.00	(0.04)	0.00	0.00	3.43	(2.72)	11.42
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.24	0.05	0.04	0.08	1.23	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.18)	0.00	(0.10)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

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