First Trust Correlations

FLN Etf

USD 26.94 0.22 0.82%

The current 90-days correlation between First Trust Latin and VanEck Vectors ETF is 0.34 (i.e., 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 Latin moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Latin and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Latin 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 Latin. 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

0.96	EWZ	iShares MSCI Brazil Aggressive Push	Pair Corr
1.0	ILF	iShares Latin America	Pair Corr
0.95	FLBR	Franklin FTSE Brazil	Pair Corr
0.74	EWZS	iShares MSCI Brazil	Pair Corr
1.0	FLLA	Franklin FTSE Latin	Pair Corr
0.93	BRF	VanEck Brazil Small	Pair Corr
0.95	ARP	Advisors Inner Circle	Pair Corr
0.73	IGA	Voya Global Advantage	Pair Corr
0.66	TECHX	Wisdomtree Digital Trust	Pair Corr
0.9	DFAE	Dimensional Emerging Core	Pair Corr
0.89	EIPX	First Trust Exchange	Pair Corr
0.9	HFXI	IQ 50 Percent	Pair Corr
0.82	BRHY	BlackRock High Yield	Pair Corr
0.92	EWM	iShares MSCI Malaysia	Pair Corr
0.82	VTEB	Vanguard Tax Exempt	Pair Corr
0.86	SMH	VanEck Semiconductor ETF	Pair Corr
0.91	GSEE	Goldman Sachs MarketBeta Low Volatility	Pair Corr
0.9	SCHF	Schwab International	Pair Corr
0.9	DDLS	WisdomTree Dynamic	Pair Corr
0.88	UX	Roundhill Uranium ETF	Pair Corr
0.74	VIG	Vanguard Dividend	Pair Corr
0.73	PSMO	Pacer Swan SOS	Pair Corr
0.69	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.68	TOT	Advisor Managed Port	Pair Corr
0.65	VOO	Vanguard SP 500 Sell-off Trend	Pair Corr
0.71	FIAT	YieldMax Short N	Pair Corr
0.83	BIL	SPDR Bloomberg 1	Pair Corr
0.85	IBMP	iShares iBonds Dec	Pair Corr

Moving against First Etf

0.46

PLT

Defiance Leveraged Long

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.19	-0.33	0.31	-0.27	-0.44	0.58	0.33	0.14	0.12	META
MSFT	0.19		0.31	-0.18	0.48	-0.08	0.04	-0.15	-0.83	-0.06	MSFT
UBER	-0.33	0.31		-0.43	0.27	0.51	-0.01	-0.05	-0.51	-0.48	UBER
F	0.31	-0.18	-0.43		-0.52	-0.21	0.14	0.28	0.45	0.61	F
T	-0.27	0.48	0.27	-0.52		0.45	-0.24	-0.25	-0.46	-0.36	T
A	-0.44	-0.08	0.51	-0.21	0.45		-0.22	0.06	-0.05	-0.48	A
CRM	0.58	0.04	-0.01	0.14	-0.24	-0.22		0.76	0.08	-0.38	CRM
JPM	0.33	-0.15	-0.05	0.28	-0.25	0.06	0.76		0.36	-0.28	JPM
MRK	0.14	-0.83	-0.51	0.45	-0.46	-0.05	0.08	0.36		0.25	MRK
XOM	0.12	-0.06	-0.48	0.61	-0.36	-0.48	-0.38	-0.28	0.25		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	+ 0.76	CRM
XOM	+ 0.61	F
CRM	+ 0.58	META
A	+ 0.51	UBER
T	+ 0.48	MSFT
MRK	+ 0.45	F

High negative correlations

MRK	- 0.83	MSFT
T	- 0.52	F
MRK	- 0.51	UBER
XOM	- 0.48	A
XOM	- 0.48	UBER
MRK	- 0.46	T

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
META	1.34	(0.04)	(0.04)	0.01	1.46	(1.48)	3.16	(2.60)	6.38
MSFT	1.07	(0.13)	0.00	(0.42)	0.00	0.00	1.85	(2.50)	4.90
UBER	1.47	(0.34)	0.00	(0.46)	0.00	0.00	2.46	(3.82)	10.23
F	1.25	0.05	0.04	0.11	1.24	(1.49)	3.38	(2.35)	7.16
T	0.88	(0.04)	0.00	(0.05)	0.00	0.00	1.63	(1.85)	4.30
A	1.23	(0.19)	0.00	(0.09)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.48	(0.25)	0.00	(0.17)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.11	(0.05)	(0.01)	0.03	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.28	0.19	0.46	1.14	(1.50)	3.59	(1.98)	8.09
XOM	1.07	0.31	0.20	3.41	0.95	(1.26)	2.38	(1.41)	5.82

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