First Trust Correlations

MDIV Etf

USD 16.06 0.06 0.37%

The current 90-days correlation between First Trust Multi and First Trust Exchange Traded is -0.17 (i.e., Good 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 weak diversification

The correlation between First Trust Multi Asset and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Multi Asset 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 Multi Asset. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

0.89	CVY	Invesco Zacks Multi	Pair Corr
0.9	HIPS	GraniteShares HIPS High	Pair Corr
0.66	VTI	Vanguard Total Stock	Pair Corr
0.64	SPY	SPDR SP 500	Pair Corr
0.64	IVV	iShares Core SP	Pair Corr
0.64	TOT	Advisor Managed Port	Pair Corr
0.9	VTV	Vanguard Value Index	Pair Corr
0.66	VO	Vanguard Mid Cap	Pair Corr
0.8	DDX	Defined Duration Symbol Change	Pair Corr
0.87	XHLF	Bondbloxx ETF Trust	Pair Corr
0.84	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.63	FIEE	FiEE Inc Symbol Change	Pair Corr
0.67	SMH	VanEck Semiconductor ETF	Pair Corr
0.89	NRES	Xtrackers RREEF Global	Pair Corr
0.81	NPFI	Nuveen Preferred	Pair Corr
0.83	SCHF	Schwab International	Pair Corr
0.8	SMAX	iShares Large Cap	Pair Corr
0.61	BBUS	JPMorgan BetaBuilders	Pair Corr
0.73	SPYD	SPDR Portfolio SP	Pair Corr
0.62	PPA	Invesco Aerospace Defense	Pair Corr
0.73	VT	Vanguard Total World	Pair Corr
0.78	FTXL	First Trust Nasdaq	Pair Corr
0.8	VAW	Vanguard Materials Index	Pair Corr
0.66	RBUF	Innovator Small Cap	Pair Corr
0.74	DUKX	Ocean Park International	Pair Corr
0.87	SPLG	SSgA Symbol Change	Pair Corr
0.9	DGRO	iShares Core Dividend	Pair Corr
0.62	RJMG	First Trust Exchange	Pair Corr
0.81	VSDB	Vanguard Short Duration	Pair Corr
0.8	SCDS	JPMorgan Fundamental Data	Pair Corr

Moving against First Etf

0.52

IRE

Tidal Trust II

Pair Corr

Related Correlations Analysis

	EIPX	EPOL	DDLS	AMZA	KBWD	VFQY	DBJP	RSPG	NTSI	EMQQ
EIPX		0.38	0.51	0.82	0.69	0.39	0.65	0.88	0.41	-0.55	EIPX
EPOL	0.38		0.92	0.56	0.82	0.87	0.88	0.46	0.93	-0.41	EPOL
DDLS	0.51	0.92		0.72	0.9	0.92	0.92	0.57	0.96	-0.45	DDLS
AMZA	0.82	0.56	0.72		0.76	0.57	0.77	0.88	0.6	-0.53	AMZA
KBWD	0.69	0.82	0.9	0.76		0.86	0.89	0.68	0.84	-0.54	KBWD
VFQY	0.39	0.87	0.92	0.57	0.86		0.81	0.49	0.91	-0.46	VFQY
DBJP	0.65	0.88	0.92	0.77	0.89	0.81		0.7	0.89	-0.43	DBJP
RSPG	0.88	0.46	0.57	0.88	0.68	0.49	0.7		0.5	-0.5	RSPG
NTSI	0.41	0.93	0.96	0.6	0.84	0.91	0.89	0.5		-0.3	NTSI
EMQQ	-0.55	-0.41	-0.45	-0.53	-0.54	-0.46	-0.43	-0.5	-0.3		EMQQ
	EIPX	EPOL	DDLS	AMZA	KBWD	VFQY	DBJP	RSPG	NTSI	EMQQ

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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

NTSI	+ 0.96	DDLS
NTSI	+ 0.93	EPOL
DDLS	+ 0.92	EPOL
VFQY	+ 0.92	DDLS
DBJP	+ 0.92	DDLS
NTSI	+ 0.91	VFQY

High negative correlations

EMQQ	- 0.55	EIPX
EMQQ	- 0.54	KBWD
EMQQ	- 0.53	AMZA
EMQQ	- 0.5	RSPG
EMQQ	- 0.46	VFQY
EMQQ	- 0.45	DDLS

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
EIPX	0.56	0.11	0.08	1.18	0.45	(0.66)	1.07	(0.93)	2.86
EPOL	0.90	0.14	0.11	0.29	0.83	(1.05)	2.19	(1.55)	5.14
DDLS	0.46	0.05	0.03	0.16	0.56	(0.46)	0.95	(0.89)	2.56
AMZA	0.84	0.09	0.03	0.78	0.93	(0.90)	2.03	(1.60)	4.99
KBWD	0.65	0.15	0.12	0.67	0.57	(0.78)	1.61	(1.24)	3.43
VFQY	0.65	(0.01)	(0.01)	0.05	0.80	(0.63)	1.31	(1.35)	3.48
DBJP	0.71	0.13	0.12	0.22	0.73	(0.80)	1.92	(1.39)	4.19
RSPG	1.07	0.13	0.06	0.53	1.23	(1.08)	2.10	(1.82)	5.76
NTSI	0.54	0.01	(0.01)	0.09	0.59	(0.61)	1.10	(0.96)	2.43
EMQQ	0.83	(0.14)	0.00	(0.27)	0.00	0.00	1.89	(1.59)	5.05

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