First Trust Correlations

FLN Etf

USD 26.66 0.02 0.07%

The current 90-days correlation between First Trust Latin and VanEck Vectors ETF is 0.28 (i.e., Modest 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

Poor diversification

The correlation between First Trust Latin and DJI is 0.78 (i.e., Poor 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 signals in board of governors.

Moving together with First Etf

0.98	EWZ	iShares MSCI Brazil	Pair Corr
1.0	ILF	iShares Latin America	Pair Corr
0.98	FLBR	Franklin FTSE Brazil	Pair Corr
0.92	EWZS	iShares MSCI Brazil	Pair Corr
1.0	FLLA	Franklin FTSE Latin	Pair Corr
0.94	BRF	VanEck Brazil Small	Pair Corr
0.72	FBZ	First Trust	Pair Corr
0.67	XTOC	Innovator ETFs Trust	Pair Corr
0.77	QTAP	Innovator Growth 100	Pair Corr
0.72	XTJA	Innovator ETFs Trust	Pair Corr
0.78	XTAP	Innovator Equity Acc	Pair Corr
0.83	RNMC	First Trust Mid	Pair Corr
0.88	XFIX	Fm Investments Symbol Change	Pair Corr
0.95	IAUM	iShares Gold Trust	Pair Corr
0.61	PJP	Invesco Dynamic Phar	Pair Corr
0.96	EMES	Harbor ETF Trust	Pair Corr
0.69	BBH	VanEck Biotech ETF	Pair Corr
0.63	TSPX	Twin Oak Active	Pair Corr
0.92	EIPI	First Trust Exchange	Pair Corr
0.94	BSMS	Invesco BulletShares 2028	Pair Corr
0.65	LITP	Sprott Lithium Miners	Pair Corr
0.9	ZMUN	Fm Callable Tax	Pair Corr
0.8	TOCT	Innovator Equity Defined	Pair Corr
0.95	IYM	iShares Basic Materials	Pair Corr
0.75	JANW	AIM ETF Products	Pair Corr
0.79	SMLF	iShares MSCI USA	Pair Corr
0.83	VIG	Vanguard Dividend	Pair Corr
0.69	WEBS	Direxion Daily Dow	Pair Corr
0.87	SIL	Global X Silver	Pair Corr
0.69	RAUS	RACWI ETF	Pair Corr
0.95	GENW	Spinnaker ETF Series	Pair Corr
0.95	SCZ	iShares MSCI EAFE	Pair Corr
0.94	FIDU	Fidelity MSCI Industrials	Pair Corr
0.8	GAPR	First Trust Exchange	Pair Corr
0.97	LSEQ	Harbor ETF Trust	Pair Corr
0.96	PCEM	Litman Gregory Funds	Pair Corr

Related Correlations Analysis

	RNEM	FPA	FTXG	SAMM	PSCF	PATN	FSST	FDTS	LST	MOTG
RNEM		0.96	0.82	0.75	0.77	0.97	0.82	0.96	0.91	-0.39	RNEM
FPA	0.96		0.87	0.67	0.75	0.96	0.83	0.97	0.88	-0.31	FPA
FTXG	0.82	0.87		0.45	0.69	0.8	0.68	0.86	0.73	-0.14	FTXG
SAMM	0.75	0.67	0.45		0.86	0.8	0.72	0.76	0.91	-0.42	SAMM
PSCF	0.77	0.75	0.69	0.86		0.83	0.83	0.85	0.94	-0.34	PSCF
PATN	0.97	0.96	0.8	0.8	0.83		0.85	0.98	0.95	-0.37	PATN
FSST	0.82	0.83	0.68	0.72	0.83	0.85		0.88	0.88	-0.49	FSST
FDTS	0.96	0.97	0.86	0.76	0.85	0.98	0.88		0.95	-0.37	FDTS
LST	0.91	0.88	0.73	0.91	0.94	0.95	0.88	0.95		-0.4	LST
MOTG	-0.39	-0.31	-0.14	-0.42	-0.34	-0.37	-0.49	-0.37	-0.4		MOTG
	RNEM	FPA	FTXG	SAMM	PSCF	PATN	FSST	FDTS	LST	MOTG

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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

FDTS	+ 0.98	PATN
PATN	+ 0.97	RNEM
FDTS	+ 0.97	FPA
FPA	+ 0.96	RNEM
FDTS	+ 0.96	RNEM
PATN	+ 0.96	FPA

High negative correlations

MOTG	- 0.49	FSST
MOTG	- 0.42	SAMM
MOTG	- 0.4	LST
MOTG	- 0.39	RNEM
MOTG	- 0.37	FDTS
MOTG	- 0.37	PATN

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
RNEM	0.47	0.05	0.05	0.18	0.43	(0.52)	0.93	(0.75)	2.76
FPA	0.81	0.26	0.24	0.74	0.56	(0.89)	2.11	(1.40)	4.94
FTXG	0.67	0.14	0.13	1.24	0.57	(0.78)	1.36	(1.12)	4.42
SAMM	0.84	0.02	0.02	0.06	1.07	(0.80)	1.41	(1.84)	5.60
PSCF	0.75	0.08	0.09	0.13	0.76	(0.92)	2.08	(1.33)	4.96
PATN	0.79	0.17	0.17	0.24	0.74	(0.91)	1.94	(1.42)	4.22
FSST	0.58	0.10	0.07	(2.10)	0.71	(0.65)	1.43	(1.08)	4.10
FDTS	0.69	0.29	0.37	0.47	0.34	(0.86)	1.85	(1.07)	3.99
LST	0.73	0.09	0.09	0.13	0.81	(0.82)	1.34	(1.59)	4.73
MOTG	0.76	(0.10)	0.00	(0.11)	0.00	0.00	1.26	(1.33)	10.42

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