First Trust Correlations

FTSM Etf

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The current 90-days correlation between First Trust Enhanced and Alpha Architect High is 0.23 (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 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 0.82 (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 population.

Moving together with First Etf

1.0	BIL	SPDR Bloomberg 1	Pair Corr
1.0	SHV	iShares Short Treasury	Pair Corr
1.0	JPST	JPMorgan Ultra Short	Pair Corr
1.0	USFR	WisdomTree Floating Rate	Pair Corr
1.0	ICSH	iShares Ultra Short	Pair Corr
0.99	SGOV	iShares 0 3	Pair Corr
1.0	GBIL	Goldman Sachs Access	Pair Corr
0.99	TFLO	iShares Treasury Floating	Pair Corr
0.99	FLRN	SPDR Bloomberg Investment	Pair Corr
0.9	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.84	MUU	Direxion Daily MU Trending	Pair Corr
0.93	AGQ	ProShares Ultra Silver Upward Rally	Pair Corr
0.84	MULL	GraniteShares 2x Long Trending	Pair Corr
0.93	JNUG	Direxion Daily Junior Trending	Pair Corr
0.72	KORU	Direxion Daily South	Pair Corr
0.92	NUGT	Direxion Daily Gold	Pair Corr
0.93	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.94	SLVR	Sprott Silver Miners	Pair Corr
0.84	SHNY	Microsectors Gold	Pair Corr
0.96	FSMB	First Trust Short	Pair Corr
0.91	XBI	SPDR SP Biotech Aggressive Push	Pair Corr
0.85	HEZU	iShares Currency Hedged	Pair Corr
0.66	EMCS	Xtrackers MSCI Emerging	Pair Corr
0.86	WWJD	Inspire International ESG	Pair Corr
0.86	IJH	iShares Core SP	Pair Corr
0.93	ZHOG	RBB Fund Symbol Change	Pair Corr
0.9	BMAY	Innovator SP 500	Pair Corr
0.9	IXJ	iShares Global Healthcare	Pair Corr
0.84	ACSV	American Century ETF	Pair Corr
0.72	SOXY	YieldMax Target 12	Pair Corr
0.95	IPKW	Invesco International	Pair Corr
0.82	JHSC	John Hancock Multifactor	Pair Corr
0.95	GSIG	Goldman Sachs Access	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	0.27	-0.24	0.15	-0.12	0.53	-0.07	-0.28	-0.32	META
MSFT	0.56		0.78	-0.55	0.52	0.25	0.35	-0.25	-0.84	-0.74	MSFT
UBER	0.27	0.78		-0.47	0.42	0.45	0.01	-0.39	-0.8	-0.51	UBER
F	-0.24	-0.55	-0.47		-0.64	-0.13	0.07	0.59	0.68	0.62	F
T	0.15	0.52	0.42	-0.64		0.55	-0.19	-0.41	-0.49	-0.64	T
A	-0.12	0.25	0.45	-0.13	0.55		-0.32	-0.22	-0.25	-0.37	A
CRM	0.53	0.35	0.01	0.07	-0.19	-0.32		0.54	-0.09	-0.33	CRM
JPM	-0.07	-0.25	-0.39	0.59	-0.41	-0.22	0.54		0.48	0.17	JPM
MRK	-0.28	-0.84	-0.8	0.68	-0.49	-0.25	-0.09	0.48		0.74	MRK
XOM	-0.32	-0.74	-0.51	0.62	-0.64	-0.37	-0.33	0.17	0.74		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

UBER	+ 0.78	MSFT
XOM	+ 0.74	MRK
MRK	+ 0.68	F
XOM	+ 0.62	F
JPM	+ 0.59	F
MSFT	+ 0.56	META

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
XOM	- 0.74	MSFT
XOM	- 0.64	T
T	- 0.64	F
F	- 0.55	MSFT

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	1.42	(0.21)	0.00	(0.14)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.04	(0.18)	0.00	(0.50)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.24)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.50	0.11	0.10	0.14	1.32	(1.86)	3.69	(2.35)	16.30
T	0.87	(0.16)	0.00	(0.39)	0.00	0.00	1.53	(1.85)	4.30
A	1.21	(0.17)	0.00	(0.06)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.51	(0.23)	0.00	(0.13)	0.00	0.00	3.22	(3.10)	12.37
JPM	1.13	(0.11)	0.00	(0.01)	0.00	0.00	2.00	(3.11)	7.38
MRK	1.24	0.31	0.21	0.48	1.09	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.20	0.95	(1.22)	2.38	(1.51)	5.82

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