First Trust Correlations

FUMB Etf

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The current 90-days correlation between First Trust Ultra and iShares Expanded Tech Software is 0.24 (i.e., Modest 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 poor diversification

The correlation between First Trust Ultra and DJI is 0.83 (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 Ultra 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 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 state.

Moving together with First Etf

0.98	SUB	iShares Short Term	Pair Corr
0.98	SHM	SPDR Nuveen Bloomberg	Pair Corr
0.99	JMST	JPMorgan Ultra Short	Pair Corr
0.97	MEAR	iShares Short Maturity	Pair Corr
0.96	FSMB	First Trust Short	Pair Corr
0.95	SMB	VanEck Short Muni	Pair Corr
0.97	TAFI	Ab Tax Aware	Pair Corr
0.92	KORU	Direxion Daily South	Pair Corr
0.95	MUU	Direxion Daily MU	Pair Corr
0.95	MULL	GraniteShares 2x Long	Pair Corr
0.8	GDXU	MicroSectors Gold Miners	Pair Corr
0.88	FNGD	MicroSectors FANG Index	Pair Corr
0.86	JNUG	Direxion Daily Junior	Pair Corr
0.88	NUGT	Direxion Daily Gold	Pair Corr
0.81	BWET	ETF Managers Group Trending	Pair Corr
0.91	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.89	RSST	Return Stacked Stocks	Pair Corr
0.93	IAU	iShares Gold Trust	Pair Corr
0.97	ILOW	AB Active ETFs	Pair Corr
0.92	ISTB	iShares Core 1	Pair Corr
0.97	STXV	EA Series Trust	Pair Corr
0.94	DXJ	WisdomTree Japan Hedged	Pair Corr
0.92	KNGZ	First Trust Exchange	Pair Corr
0.95	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.95	AVMC	American Century ETF	Pair Corr
0.96	FIDU	Fidelity MSCI Industrials	Pair Corr
0.77	BIB	ProShares Ultra Nasdaq	Pair Corr
0.88	LALT	Invesco Multi Strategy	Pair Corr
0.95	TAXT	Northern Trust Tax	Pair Corr
0.94	UEVM	VictoryShares Emerging	Pair Corr
0.81	DAUG	FT Cboe Vest	Pair Corr
0.69	LGCF	Themes Cash Flow	Pair Corr
0.97	DFIV	Dimensional International	Pair Corr
0.85	USO	United States Oil	Pair Corr
0.97	FEM	First Trust Emerging	Pair Corr

Related Correlations Analysis

	FLOT	SCHI	ESGD	EFG	SPHY	IAGG	QLD	SHYG	SPIB	IGV
FLOT		0.77	0.98	0.95	0.96	0.82	-0.47	0.93	0.88	-0.89	FLOT
SCHI	0.77		0.81	0.76	0.75	0.93	-0.53	0.65	0.93	-0.79	SCHI
ESGD	0.98	0.81		0.98	0.96	0.84	-0.44	0.92	0.89	-0.88	ESGD
EFG	0.95	0.76	0.98		0.97	0.8	-0.29	0.95	0.84	-0.79	EFG
SPHY	0.96	0.75	0.96	0.97		0.79	-0.32	0.98	0.86	-0.8	SPHY
IAGG	0.82	0.93	0.84	0.8	0.79		-0.59	0.69	0.96	-0.88	IAGG
QLD	-0.47	-0.53	-0.44	-0.29	-0.32	-0.59		-0.22	-0.58	0.7	QLD
SHYG	0.93	0.65	0.92	0.95	0.98	0.69	-0.22		0.78	-0.7	SHYG
SPIB	0.88	0.93	0.89	0.84	0.86	0.96	-0.58	0.78		-0.87	SPIB
IGV	-0.89	-0.79	-0.88	-0.79	-0.8	-0.88	0.7	-0.7	-0.87		IGV
	FLOT	SCHI	ESGD	EFG	SPHY	IAGG	QLD	SHYG	SPIB	IGV

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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

ESGD	+ 0.98	FLOT
EFG	+ 0.98	ESGD
SHYG	+ 0.98	SPHY
SPHY	+ 0.97	EFG
SPHY	+ 0.96	FLOT
SPHY	+ 0.96	ESGD

High negative correlations

IGV	- 0.89	FLOT
IGV	- 0.88	IAGG
IGV	- 0.88	ESGD
IGV	- 0.87	SPIB
IGV	- 0.8	SPHY
IGV	- 0.79	EFG

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
FLOT	0.03	0.00	(0.77)	0.15	0.00	(0.03)	0.06	(0.02)	0.14
SCHI	0.15	0.02	(0.30)	0.39	0.00	(0.17)	0.35	(0.31)	0.75
ESGD	0.57	0.13	0.14	0.27	0.49	(0.63)	1.25	(1.05)	3.31
EFG	0.67	0.08	0.08	0.17	0.73	(0.70)	1.32	(1.40)	3.83
SPHY	0.12	0.01	(0.30)	0.13	0.01	(0.13)	0.30	(0.17)	0.85
IAGG	0.09	0.01	(0.47)	0.34	0.00	(0.11)	0.18	(0.22)	0.46
QLD	1.42	(0.11)	(0.04)	0.00	2.09	(1.31)	2.63	(3.75)	8.23
SHYG	0.10	0.00	(0.37)	0.11	0.00	(0.13)	0.26	(0.14)	0.89
SPIB	0.11	0.01	(0.38)	0.50	0.00	(0.12)	0.27	(0.18)	0.48
IGV	1.52	(0.40)	0.00	(0.26)	0.00	0.00	2.24	(4.61)	8.26

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