First Trust Correlations

FYT Etf

USD 61.39 0.23 0.37%

The current 90-days correlation between First Trust Small and AB Active ETFs is 0.21 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust Small and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Small 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 Small. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with First Etf

0.99	VBR	Vanguard Small Cap	Pair Corr
0.99	IWN	iShares Russell 2000	Pair Corr
1.0	DFAT	Dimensional Targeted	Pair Corr
0.99	IJS	iShares SP Small	Pair Corr
0.99	SLYV	SPDR SP 600	Pair Corr
1.0	AVUV	Avantis Small Cap	Pair Corr
0.99	DES	WisdomTree SmallCap	Pair Corr
0.99	MDYV	SPDR SP 400	Pair Corr
0.95	CALF	Pacer Small Cap	Pair Corr
0.97	REGL	ProShares SP MidCap Low Volatility	Pair Corr
0.78	VTI	Vanguard Total Stock	Pair Corr
0.73	SPY	SPDR SP 500	Pair Corr
0.73	IVV	iShares Core SP	Pair Corr
0.63	BND	Vanguard Total Bond	Pair Corr
0.83	TOT	Advisor Managed Port	Pair Corr
0.97	VTV	Vanguard Value Index	Pair Corr
0.92	VO	Vanguard Mid Cap	Pair Corr
0.89	CAT	Caterpillar	Pair Corr
0.7	CVX	Chevron Corp	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr
0.69	PFE	Pfizer Inc Earnings Call Today	Pair Corr
0.93	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.76	INTC	Intel Aggressive Push	Pair Corr
0.85	BA	Boeing	Pair Corr
0.8	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.9	AA	Alcoa Corp	Pair Corr
0.85	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against First Etf

0.43	IRE	Tidal Trust II Potential Growth	Pair Corr
0.75	MSFT	Microsoft	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.49	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.37	MMM	3M Company	Pair Corr

Related Correlations Analysis

	FAB	RFDI	ECML	KCCA	EMMF	DGRE	GSEE	FNK	AVDS	SDFI
FAB		0.94	0.99	-0.13	0.8	0.88	0.74	0.97	0.95	0.93	FAB
RFDI	0.94		0.93	-0.15	0.89	0.96	0.86	0.93	0.98	0.88	RFDI
ECML	0.99	0.93		-0.1	0.82	0.88	0.77	0.96	0.95	0.91	ECML
KCCA	-0.13	-0.15	-0.1		-0.17	-0.06	-0.06	-0.08	-0.13	-0.06	KCCA
EMMF	0.8	0.89	0.82	-0.17		0.96	0.98	0.81	0.92	0.71	EMMF
DGRE	0.88	0.96	0.88	-0.06	0.96		0.94	0.87	0.97	0.81	DGRE
GSEE	0.74	0.86	0.77	-0.06	0.98	0.94		0.76	0.88	0.65	GSEE
FNK	0.97	0.93	0.96	-0.08	0.81	0.87	0.76		0.94	0.91	FNK
AVDS	0.95	0.98	0.95	-0.13	0.92	0.97	0.88	0.94		0.88	AVDS
SDFI	0.93	0.88	0.91	-0.06	0.71	0.81	0.65	0.91	0.88		SDFI
	FAB	RFDI	ECML	KCCA	EMMF	DGRE	GSEE	FNK	AVDS	SDFI

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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

ECML	+ 0.99	FAB
AVDS	+ 0.98	RFDI
GSEE	+ 0.98	EMMF
FNK	+ 0.97	FAB
AVDS	+ 0.97	DGRE
DGRE	+ 0.96	RFDI

High negative correlations

EMMF	- 0.17	KCCA
KCCA	- 0.15	RFDI
AVDS	- 0.13	KCCA
KCCA	- 0.13	FAB
KCCA	- 0.1	ECML
FNK	- 0.08	KCCA

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
FAB	0.64	0.09	0.12	0.15	0.52	(0.76)	1.88	(1.10)	3.76
RFDI	0.60	0.13	0.16	0.23	0.49	(0.65)	1.19	(1.14)	3.13
ECML	0.74	0.09	0.13	0.14	0.51	(0.98)	2.20	(1.11)	4.94
KCCA	0.82	(0.20)	0.00	(0.82)	0.00	0.00	1.95	(2.88)	6.66
EMMF	0.57	0.11	0.11	1.00	0.48	(0.69)	1.55	(1.11)	3.17
DGRE	0.69	0.14	0.15	0.25	0.62	(0.78)	1.64	(1.32)	3.77
GSEE	0.70	0.09	0.06	0.71	0.71	(0.79)	1.54	(1.32)	3.54
FNK	0.72	0.08	0.07	0.32	0.64	(0.92)	2.17	(1.20)	4.13
AVDS	0.62	0.12	0.13	0.22	0.65	(0.68)	1.30	(1.11)	4.02
SDFI	0.07	0.00	(0.48)	0.09	0.00	(0.08)	0.14	(0.14)	0.39

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