First Trust Correlations

FRI Etf

USD 27.42 0.15 0.54%

The current 90-days correlation between First Trust SP and ProShares Ultra MidCap400 is 0.47 (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

Weak diversification

The correlation between First Trust SP and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust SP 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 SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with First Etf

0.97	VNQ	Vanguard Real Estate	Pair Corr
0.88	XLRE	Real Estate	Pair Corr
0.96	IYR	iShares Real Estate	Pair Corr
0.93	ICF	iShares Cohen Steers	Pair Corr
0.98	USRT	iShares Core REIT	Pair Corr
0.73	IRET	iREIT MarketVector	Pair Corr
0.93	RWR	SPDR Dow Jones	Pair Corr

Related Correlations Analysis

	MVV	WEBL	LEXI	UJUN	MSMR	ERTH	XJUN	GSC	QLV	FPXI
MVV		-0.04	0.86	0.83	0.68	0.18	0.83	0.89	0.76	0.53	MVV
WEBL	-0.04		-0.1	-0.27	0.11	0.45	-0.29	-0.09	-0.2	0.53	WEBL
LEXI	0.86	-0.1		0.96	0.79	0.35	0.96	0.77	0.72	0.62	LEXI
UJUN	0.83	-0.27	0.96		0.77	0.24	1.0	0.77	0.74	0.42	UJUN
MSMR	0.68	0.11	0.79	0.77		0.3	0.75	0.6	0.61	0.52	MSMR
ERTH	0.18	0.45	0.35	0.24	0.3		0.22	0.26	0.08	0.59	ERTH
XJUN	0.83	-0.29	0.96	1.0	0.75	0.22		0.77	0.75	0.4	XJUN
GSC	0.89	-0.09	0.77	0.77	0.6	0.26	0.77		0.74	0.42	GSC
QLV	0.76	-0.2	0.72	0.74	0.61	0.08	0.75	0.74		0.27	QLV
FPXI	0.53	0.53	0.62	0.42	0.52	0.59	0.4	0.42	0.27		FPXI
	MVV	WEBL	LEXI	UJUN	MSMR	ERTH	XJUN	GSC	QLV	FPXI

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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

XJUN	+ 1.0	UJUN
UJUN	+ 0.96	LEXI
XJUN	+ 0.96	LEXI
GSC	+ 0.89	MVV
LEXI	+ 0.86	MVV
UJUN	+ 0.83	MVV

High negative correlations

XJUN	- 0.29	WEBL
UJUN	- 0.27	WEBL
QLV	- 0.2	WEBL
LEXI	- 0.1	WEBL
GSC	- 0.09	WEBL
WEBL	- 0.04	MVV

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
MVV	1.64	(0.06)	0.02	0.05	1.99	(1.66)	3.83	(3.49)	7.79
WEBL	2.46	(0.34)	0.00	(0.06)	0.00	0.00	5.06	(6.37)	13.82
LEXI	0.48	0.04	0.02	0.14	0.48	(0.48)	1.01	(0.93)	2.83
UJUN	0.16	0.02	(0.19)	0.19	0.00	(0.19)	0.38	(0.24)	1.07
MSMR	0.64	0.05	0.03	0.16	0.64	(0.76)	1.21	(1.38)	3.53
ERTH	0.78	(0.03)	0.00	(0.21)	0.00	0.00	1.55	(2.00)	4.99
XJUN	0.14	0.02	(0.21)	0.17	0.00	(0.15)	0.36	(0.31)	0.95
GSC	0.96	0.05	0.01	0.22	1.07	(1.08)	1.95	(1.90)	4.87
QLV	0.38	(0.04)	(0.15)	0.01	0.45	(0.42)	0.77	(0.75)	1.93
FPXI	0.99	0.01	0.00	0.09	1.20	(0.99)	1.93	(1.91)	6.71

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