First Trust Correlations

LMBS Etf

USD 50.17 0.06 0.12%

The current 90-days correlation between First Trust Low and WisdomTree LargeCap Dividend is 0.26 (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

Poor diversification

The correlation between First Trust Low and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Low and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Low. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Etf

0.94	SHY	iShares 1 3	Pair Corr
0.93	SPTS	SPDR Barclays Short	Pair Corr
0.8	AGZ	iShares Agency Bond	Pair Corr
0.95	FTSD	Franklin Liberty Short	Pair Corr
0.93	UTWO	Rbb Fund	Pair Corr
0.95	XTWO	Bondbloxx ETF Trust	Pair Corr
0.87	XTRE	Bondbloxx ETF Trust	Pair Corr
0.96	TRSY	Xtrackers 0 1	Pair Corr
0.96	SLDR	Global X Short	Pair Corr
0.86	CPST	Calamos ETF Trust	Pair Corr
0.75	ITDD	iShares Trust	Pair Corr
0.86	XISE	FT Cboe Vest	Pair Corr
0.65	EEMX	SPDR MSCI Emerging	Pair Corr
0.89	TAXT	Northern Trust Tax	Pair Corr
0.91	GAPR	First Trust Exchange	Pair Corr
0.93	CPSM	Calamos ETF Trust	Pair Corr
0.86	AGQ	ProShares Ultra Silver	Pair Corr
0.9	FB	ProShares Trust ProShares	Pair Corr
0.94	FLXR	TCW ETF Trust	Pair Corr
0.88	GMUB	Goldman Sachs ETF	Pair Corr
0.68	KORU	Direxion Daily South	Pair Corr
0.86	DMAY	First Trust Exchange	Pair Corr
0.88	IQSM	Iq Candriam ESG	Pair Corr
0.83	FNX	First Trust Mid	Pair Corr
0.95	IGSB	iShares 1 5	Pair Corr
0.67	HLAL	Wahed FTSE USA	Pair Corr
0.88	GDXU	MicroSectors Gold Miners	Pair Corr
0.78	FDRR	Fidelity Dividend ETF	Pair Corr
0.9	DISV	Dimensional ETF Trust	Pair Corr
0.72	EUSB	iShares Trust	Pair Corr
0.75	FMF	First Trust Managed	Pair Corr

Moving against First Etf

0.79

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	JMBS	FIASX	FICSX	DFSV	FEYAX	FELC	XMHQ	BBAX	EFAV	DLN
JMBS		0.86	0.89	0.88	0.79	0.73	0.86	0.79	0.89	0.91	JMBS
FIASX	0.86		0.98	0.9	0.94	0.73	0.86	0.91	0.94	0.93	FIASX
FICSX	0.89	0.98		0.93	0.92	0.76	0.9	0.93	0.97	0.96	FICSX
DFSV	0.88	0.9	0.93		0.83	0.75	0.88	0.79	0.89	0.95	DFSV
FEYAX	0.79	0.94	0.92	0.83		0.79	0.88	0.91	0.86	0.89	FEYAX
FELC	0.73	0.73	0.76	0.75	0.79		0.79	0.74	0.72	0.82	FELC
XMHQ	0.86	0.86	0.9	0.88	0.88	0.79		0.89	0.83	0.9	XMHQ
BBAX	0.79	0.91	0.93	0.79	0.91	0.74	0.89		0.88	0.85	BBAX
EFAV	0.89	0.94	0.97	0.89	0.86	0.72	0.83	0.88		0.95	EFAV
DLN	0.91	0.93	0.96	0.95	0.89	0.82	0.9	0.85	0.95		DLN
	JMBS	FIASX	FICSX	DFSV	FEYAX	FELC	XMHQ	BBAX	EFAV	DLN

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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
JMBS	0.16	0.00	(0.22)	0.06	0.15	(0.18)	0.35	(0.31)	0.92
FIASX	0.45	0.12	0.12	1.57	0.34	(0.49)	1.03	(0.85)	2.06
FICSX	0.45	0.09	0.10	0.26	0.34	(0.50)	1.03	(0.89)	2.08
DFSV	0.78	0.09	0.10	0.13	0.75	(0.91)	2.45	(1.31)	4.82
FEYAX	0.50	0.08	0.05	0.66	0.60	(0.52)	1.03	(1.18)	2.82
FELC	0.54	0.00	(0.02)	0.05	0.76	(0.51)	1.14	(1.21)	3.57
XMHQ	0.72	(0.03)	(0.03)	0.02	0.82	(0.80)	1.74	(1.42)	3.44
BBAX	0.60	0.10	0.09	0.21	0.55	(0.61)	1.19	(1.26)	2.94
EFAV	0.42	0.06	0.06	0.23	0.31	(0.50)	0.88	(0.81)	2.66
DLN	0.44	0.02	0.01	0.09	0.43	(0.50)	0.91	(0.80)	2.55

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