First Trust Correlations

FTSM Etf

USD 60.03 0.04 0.07%

The current 90-days correlation between First Trust Enhanced and Alpha Architect High is 0.03 (i.e., Significant 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

Very poor diversification

The correlation between First Trust Enhanced and DJI is 0.87 (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 signals in main economic indicators.

Moving together with First Etf

1.0	BIL	SPDR Bloomberg 1	Pair Corr
1.0	SHV	iShares Short Treasury	Pair Corr
0.67	JPST	JPMorgan Ultra Short	Pair Corr
0.7	USFR	WisdomTree Floating Rate	Pair Corr
0.67	ICSH	iShares Ultra Short	Pair Corr
0.68	SGOV	iShares 0 3	Pair Corr
1.0	GBIL	Goldman Sachs Access	Pair Corr
0.68	TFLO	iShares Treasury Floating	Pair Corr
0.99	FLRN	SPDR Bloomberg Investment	Pair Corr
0.87	ITWO	Proshares Russell 2000	Pair Corr
0.72	AMPD	Tidal ETF Services	Pair Corr
0.71	ELON	Battleshares TSLA	Pair Corr
0.93	CPST	Calamos ETF Trust	Pair Corr
0.88	XAUG	FT Cboe Vest	Pair Corr
0.93	PFFA	Virtus InfraCap Preferred	Pair Corr
0.97	WLDR	Affinity World Leaders	Pair Corr
0.89	PFF	iShares Preferred	Pair Corr
0.9	EWT	iShares MSCI Taiwan	Pair Corr
1.0	VGUS	Vanguard Ultra Short	Pair Corr
0.94	EDGI	Advisors Inner	Pair Corr
0.92	IRTR	iShares Trust	Pair Corr
0.93	PCEM	Litman Gregory Funds	Pair Corr
0.91	NBCE	Neuberger Berman ETF	Pair Corr
0.92	FPXE	First Trust IPOX	Pair Corr
0.88	NCPB	Nuveen Core Plus	Pair Corr
0.98	BSMS	Invesco BulletShares 2028	Pair Corr
0.95	JEPI	JPMorgan Equity Premium	Pair Corr
0.96	GENW	Spinnaker ETF Series	Pair Corr
0.96	FNDC	Schwab Fundamental	Pair Corr
0.86	QLV	FlexShares Quality Low	Pair Corr
0.94	FIDU	Fidelity MSCI Industrials	Pair Corr
0.89	WDNA	WisdomTree BioRevolution	Pair Corr
0.87	PSFD	Pacer Swan SOS	Pair Corr
0.9	JANW	AIM ETF Products	Pair Corr
0.9	SIXJ	AIM ETF Products	Pair Corr
0.96	TAXT	Northern Trust Tax	Pair Corr

Moving against First Etf

0.83

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

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	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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