First Trust Correlations

MARB Etf

USD 20.70 0.01 0.05%

The current 90-days correlation between First Trust Vivaldi and AIM ETF Products is 0.18 (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.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Vivaldi and DJI is 0.87 (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 Vivaldi 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 Vivaldi. 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

0.71	MNA	IQ Merger Arbitrage	Pair Corr
0.89	CEFS	Saba Closed End	Pair Corr
0.77	ARB	AltShares Trust	Pair Corr
0.81	EVNT	AltShares Event Driven	Pair Corr
0.62	USD	ProShares Ultra Semi	Pair Corr
0.91	DFEN	Direxion Daily Aerospace	Pair Corr
0.85	DGP	DB Gold Double	Pair Corr
0.83	UGL	ProShares Ultra Gold	Pair Corr
0.84	NUGT	Direxion Daily Gold	Pair Corr
0.78	DIG	ProShares Ultra Oil	Pair Corr
0.76	MLPR	ETRACS Quarterly Pay	Pair Corr
0.86	DUSL	Direxion Daily Indus	Pair Corr
0.81	SEA	US Global Sea	Pair Corr
0.9	ESGD	iShares ESG Aware	Pair Corr
0.9	FEM	First Trust Emerging	Pair Corr
0.88	AVUV	Avantis Small Cap	Pair Corr
0.92	ITA	iShares Aerospace Defense	Pair Corr
0.92	EAFG	Pacer Funds Trust	Pair Corr
0.86	IAU	iShares Gold Trust Aggressive Push	Pair Corr
0.9	IXUS	iShares Core MSCI Sell-off Trend	Pair Corr
0.9	AVDS	Avantis International	Pair Corr
0.92	EPU	iShares MSCI Peru	Pair Corr
0.87	FNDF	Schwab Fundamental	Pair Corr
0.84	COMB	GraniteShares Bloomberg	Pair Corr
0.8	FIEE	FiEE Inc Symbol Change	Pair Corr
0.72	USO	United States Oil	Pair Corr
0.84	AUMI	Themes Gold Miners	Pair Corr
0.65	BDEC	Innovator SP 500	Pair Corr
0.9	ILOW	AB Active ETFs	Pair Corr
0.76	JETS	US Global Jets	Pair Corr
0.79	EMIF	iShares Emerging Markets	Pair Corr
0.72	BIB	ProShares Ultra Nasdaq	Pair Corr
0.89	IEMG	iShares Core MSCI Sell-off Trend	Pair Corr

Moving against First Etf

0.74

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	BGRO	BDVG	JHDV	BUYZ	LRND	SMCZ	EUDV	FDTS	FLJJ
BGRO		-0.59	-0.36	0.81	0.92	0.5	-0.32	-0.51	0.06	BGRO
BDVG	-0.59		0.93	-0.88	-0.61	-0.71	0.88	0.94	0.69	BDVG
JHDV	-0.36	0.93		-0.79	-0.43	-0.67	0.95	0.98	0.82	JHDV
BUYZ	0.81	-0.88	-0.79		0.8	0.74	-0.72	-0.87	-0.38	BUYZ
LRND	0.92	-0.61	-0.43	0.8		0.46	-0.42	-0.58	-0.09	LRND
SMCZ	0.5	-0.71	-0.67	0.74	0.46		-0.54	-0.68	-0.27	SMCZ
EUDV	-0.32	0.88	0.95	-0.72	-0.42	-0.54		0.95	0.84	EUDV
FDTS	-0.51	0.94	0.98	-0.87	-0.58	-0.68	0.95		0.74	FDTS
FLJJ	0.06	0.69	0.82	-0.38	-0.09	-0.27	0.84	0.74		FLJJ
	BGRO	BDVG	JHDV	BUYZ	LRND	SMCZ	EUDV	FDTS	FLJJ

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

FDTS	+ 0.98	JHDV
EUDV	+ 0.95	JHDV
FDTS	+ 0.95	EUDV
FDTS	+ 0.94	BDVG
JHDV	+ 0.93	BDVG
LRND	+ 0.92	BGRO

High negative correlations

BUYZ	- 0.88	BDVG
FDTS	- 0.87	BUYZ
BUYZ	- 0.79	JHDV
EUDV	- 0.72	BUYZ
SMCZ	- 0.71	BDVG
FDTS	- 0.68	SMCZ

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
BGRO	0.87	(0.08)	(0.06)	(0.01)	1.38	(0.74)	1.82	(2.15)	5.65
BDVG	0.45	0.08	0.09	0.22	0.32	(0.54)	1.01	(0.77)	3.23
JHDV	0.53	0.07	0.07	0.17	0.55	(0.58)	1.05	(1.01)	4.09
BUYZ	1.20	(0.26)	0.00	(0.14)	0.00	0.00	1.94	(3.98)	8.12
LRND	0.70	(0.07)	(0.08)	(0.01)	1.04	(0.66)	1.17	(1.78)	4.90
SMCZ	5.75	0.08	0.00	0.06	0.00	0.00	9.97	(16.38)	40.81
EUDV	0.55	0.08	0.06	0.22	0.65	(0.57)	1.17	(1.09)	3.38
FDTS	0.65	0.36	0.49	0.70	0.00	(0.86)	1.85	(0.88)	3.99
FLJJ	0.18	0.01	(0.16)	0.12	0.13	(0.20)	0.40	(0.47)	1.50

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