First Trust Correlations

FUMB Etf

USD 20.10 0.04 0.20%

The current 90-days correlation between First Trust Ultra and First Trust Short is 0.45 (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

Very good diversification

The correlation between First Trust Ultra and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Ultra 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 Ultra. 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

0.83	JMST	JPMorgan Ultra Short	Pair Corr
0.81	MEAR	iShares Short Maturity	Pair Corr
0.63	BITX	Volatility Shares Trust Low Volatility	Pair Corr
0.66	CRPT	First Trust SkyBridge	Pair Corr
0.67	DAPP	VanEck Digital Trans	Pair Corr
0.61	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.67	PUTW	WisdomTree CBOE SP	Pair Corr
0.78	USFR	WisdomTree Floating Rate	Pair Corr
0.67	DIVG	Invesco Exchange Traded	Pair Corr
0.68	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.74	MSTY	YieldMax MSTR Option	Pair Corr
0.76	DISO	Tidal Trust II	Pair Corr
0.66	BTC	Grayscale Bitcoin Mini	Pair Corr
0.62	SPY	SPDR SP 500 Aggressive Push	Pair Corr

Related Correlations Analysis

	FSMB	FMHI	FPEI	JMST	FMB
FSMB		0.91	0.68	0.31	0.84	FSMB
FMHI	0.91		0.56	0.1	0.95	FMHI
FPEI	0.68	0.56		0.6	0.38	FPEI
JMST	0.31	0.1	0.6		-0.08	JMST
FMB	0.84	0.95	0.38	-0.08		FMB
	FSMB	FMHI	FPEI	JMST	FMB

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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

FMB	+ 0.95	FMHI
FMHI	+ 0.91	FSMB
FMB	+ 0.84	FSMB
FPEI	+ 0.68	FSMB
JMST	+ 0.6	FPEI
FPEI	+ 0.56	FMHI

High negative correlations

FMB

- 0.08

JMST

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
FSMB	0.08	0.00	(0.92)	0.19	0.09	(0.10)	0.15	(0.20)	0.60
FMHI	0.16	0.01	(0.38)	0.04	0.29	(0.17)	0.31	(0.37)	1.78
FPEI	0.13	0.00	(0.51)	0.13	0.10	(0.16)	0.32	(0.21)	1.06
JMST	0.03	0.00	(2.34)	(0.01)	0.00	(0.04)	0.06	(0.04)	0.22
FMB	0.16	0.01	(0.42)	0.05	0.27	(0.16)	0.33	(0.33)	1.54

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