First Trust Correlations

LMBS Etf

USD 50.30 0.03 0.06%

The current 90-days correlation between First Trust Low and WisdomTree LargeCap Dividend is 0.12 (i.e., Average 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

Very poor diversification

The correlation between First Trust Low 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 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

0.96	SHY	iShares 1 3	Pair Corr
0.95	SPTS	SPDR Barclays Short	Pair Corr
0.87	AGZ	iShares Agency Bond	Pair Corr
0.93	FTSD	Franklin Liberty Short	Pair Corr
0.95	UTWO	Rbb Fund	Pair Corr
0.95	XTWO	Bondbloxx ETF Trust	Pair Corr
0.88	XTRE	Bondbloxx ETF Trust	Pair Corr
0.96	TRSY	Xtrackers 0 1	Pair Corr
0.96	SLDR	Global X Short	Pair Corr
0.79	INR	Infinity Natural Res	Pair Corr
0.61	VTI	Vanguard Total Stock	Pair Corr
0.86	BND	Vanguard Total Bond	Pair Corr
0.61	TOT	Advisor Managed Port	Pair Corr
0.95	VTV	Vanguard Value Index	Pair Corr
0.8	LQIG	SPDR MarketAxess Inv	Pair Corr
0.9	WEEI	Westwood Salient Enhanced	Pair Corr
0.91	FOPC	Advisors Inner	Pair Corr
0.9	KNGZ	First Trust Exchange	Pair Corr
0.91	IJK	iShares SP Mid	Pair Corr
0.95	ILOW	AB Active ETFs	Pair Corr
0.91	FNDA	Schwab Fundamental Small	Pair Corr
0.88	XFIX	Fm Investments Symbol Change	Pair Corr
0.89	CNAV	Mohr Company Low Volatility	Pair Corr
0.83	BUYW	Main Buywrite ETF	Pair Corr
0.86	IYR	iShares Real Estate Sell-off Trend	Pair Corr
0.91	AHYB	American Century ETF	Pair Corr
0.96	YDEC	First Trust Exchange	Pair Corr
0.96	DWM	WisdomTree International	Pair Corr
0.89	DOGG	First Trust Exchange	Pair Corr
0.91	LALT	Invesco Multi Strategy	Pair Corr
0.87	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.92	CLOC	ETF Series Solutions	Pair Corr
0.77	HYP	Golden Eagle Dynamic	Pair Corr

Moving against First Etf

0.61	ENTR	EntrepreneurShares	Pair Corr
0.56	VUG	Vanguard Growth Index	Pair Corr

Related Correlations Analysis

	JMBS	FIASX	FICSX	DFSV	FEYAX	FELC	XMHQ	BBAX	EFAV	DLN
JMBS		0.9	0.91	0.89	0.86	0.5	0.78	0.91	0.94	0.92	JMBS
FIASX	0.9		0.99	0.93	0.97	0.58	0.84	0.98	0.95	0.95	FIASX
FICSX	0.91	0.99		0.96	0.96	0.62	0.88	0.98	0.95	0.97	FICSX
DFSV	0.89	0.93	0.96		0.91	0.63	0.89	0.94	0.92	0.97	DFSV
FEYAX	0.86	0.97	0.96	0.91		0.68	0.89	0.93	0.88	0.92	FEYAX
FELC	0.5	0.58	0.62	0.63	0.68		0.76	0.54	0.45	0.59	FELC
XMHQ	0.78	0.84	0.88	0.89	0.89	0.76		0.81	0.74	0.83	XMHQ
BBAX	0.91	0.98	0.98	0.94	0.93	0.54	0.81		0.98	0.97	BBAX
EFAV	0.94	0.95	0.95	0.92	0.88	0.45	0.74	0.98		0.97	EFAV
DLN	0.92	0.95	0.97	0.97	0.92	0.59	0.83	0.97	0.97		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	0.03	(0.16)	0.73	0.00	(0.20)	0.37	(0.26)	0.92
FIASX	0.48	0.13	0.13	(8.57)	0.27	(0.56)	1.17	(0.83)	2.41
FICSX	0.47	0.11	0.14	0.34	0.24	(0.54)	1.17	(0.79)	2.45
DFSV	0.85	0.19	0.22	0.22	0.56	(1.04)	2.65	(1.40)	5.07
FEYAX	0.52	0.11	0.06	(1.44)	0.52	(0.56)	1.02	(1.04)	3.24
FELC	0.54	(0.01)	(0.04)	0.04	0.71	(0.54)	1.02	(1.20)	3.57
XMHQ	0.73	0.04	0.05	0.10	0.65	(0.89)	1.90	(1.33)	3.63
BBAX	0.63	0.18	0.17	0.38	0.45	(0.70)	1.31	(1.00)	4.17
EFAV	0.42	0.14	0.21	0.53	0.00	(0.51)	0.94	(0.67)	2.66
DLN	0.43	0.07	0.08	0.17	0.39	(0.50)	0.96	(0.80)	2.99

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