First Trust Correlations

FTSM Etf

USD 59.90 0.02 0.03%

The current 90-days correlation between First Trust Enhanced and First Trust Low is 0.62 (i.e., Poor 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 Enhanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Enhanced and DJI is -0.09 (i.e., Good 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.

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 state.

Moving together with First Etf

0.98	BIL	SPDR Bloomberg 1	Pair Corr
0.99	SHV	iShares Short Treasury	Pair Corr
0.99	JPST	JPMorgan Ultra Short	Pair Corr
0.96	USFR	WisdomTree Floating Rate	Pair Corr
1.0	ICSH	iShares Ultra Short	Pair Corr
0.98	SGOV	iShares 0 3	Pair Corr
0.99	GBIL	Goldman Sachs Access	Pair Corr
0.97	TFLO	iShares Treasury Floating	Pair Corr
0.98	FLRN	SPDR Bloomberg Investment	Pair Corr
0.75	DUKH	Ocean Park High	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.94	T	ATT Inc Aggressive Push	Pair Corr
0.88	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.8	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.86	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.94	WMT	Walmart Aggressive Push	Pair Corr
0.87	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.75	DIS	Walt Disney Aggressive Push	Pair Corr
0.7	HPQ	HP Inc	Pair Corr
0.77	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr

Moving against First Etf

0.8	HUM	Humana Inc Buyout Trend	Pair Corr
0.4	LUX	Tema ETF Trust	Pair Corr
0.84	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.69	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.61	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.54	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.58	-0.01	0.64	0.02	0.73	0.31	-0.58	0.74	META
MSFT	0.27		0.22	0.12	0.18	-0.03	0.04	-0.16	0.1	-0.18	MSFT
UBER	0.58	0.22		0.0	0.09	0.23	0.12	-0.03	-0.01	0.42	UBER
F	-0.01	0.12	0.0		-0.03	-0.36	0.33	0.61	-0.22	0.27	F
T	0.64	0.18	0.09	-0.03		-0.44	0.7	0.43	-0.73	0.38	T
A	0.02	-0.03	0.23	-0.36	-0.44		-0.45	-0.64	0.62	0.02	A
CRM	0.73	0.04	0.12	0.33	0.7	-0.45		0.8	-0.92	0.67	CRM
JPM	0.31	-0.16	-0.03	0.61	0.43	-0.64	0.8		-0.82	0.48	JPM
MRK	-0.58	0.1	-0.01	-0.22	-0.73	0.62	-0.92	-0.82		-0.55	MRK
XOM	0.74	-0.18	0.42	0.27	0.38	0.02	0.67	0.48	-0.55		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	+ 0.8	CRM
XOM	+ 0.74	META
CRM	+ 0.73	META
CRM	+ 0.7	T
XOM	+ 0.67	CRM
T	+ 0.64	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.82	JPM
MRK	- 0.73	T
JPM	- 0.64	A
MRK	- 0.58	META
XOM	- 0.55	MRK

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	1.07	0.05	0.02	0.16	1.41	(1.15)	2.62	(3.15)	8.02
MSFT	0.89	(0.10)	0.00	(0.05)	0.00	0.00	2.08	(2.03)	8.19
UBER	1.56	(0.15)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
F	1.40	(0.09)	(0.02)	0.02	2.20	(1.37)	2.53	(2.90)	11.72
T	0.91	0.26	0.16	(47.59)	0.84	(1.03)	2.56	(1.72)	6.47
A	1.09	(0.16)	0.00	(0.27)	0.00	0.00	2.11	(2.42)	9.02
CRM	1.25	0.24	0.20	0.30	0.94	(1.47)	3.18	(1.91)	9.09
JPM	1.09	0.03	0.06	0.10	1.43	(1.11)	2.05	(2.00)	15.87
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
XOM	1.03	0.04	0.00	0.15	1.22	(1.09)	2.14	(2.09)	5.78

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