First Trust Correlations

MDIV Etf

USD 16.66 0.01 0.06%

The current 90-days correlation between First Trust Multi and EMQQ The Emerging 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

Poor diversification

The correlation between First Trust Multi Asset and DJI is 0.79 (i.e., Poor 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

0.93	CVY	Invesco Zacks Multi	Pair Corr
0.82	HIPS	GraniteShares HIPS High	Pair Corr
0.97	OIH	VanEck Oil Services	Pair Corr
0.77	EWC	iShares MSCI Canada	Pair Corr
0.88	SUSB	iShares ESG 1	Pair Corr
0.79	GTR	WisdomTree Target Range	Pair Corr
0.83	PPA	Invesco Aerospace Defense	Pair Corr
0.87	VIGI	Vanguard International	Pair Corr
0.85	BSV	Vanguard Short Term Sell-off Trend	Pair Corr
0.89	CTA	Simplify Managed Futures	Pair Corr
0.99	SCDL	ETRACS 2x Leveraged	Pair Corr
0.77	UWM	ProShares Ultra Russ	Pair Corr
0.9	RSP	Invesco SP 500	Pair Corr
0.7	IWC	iShares Micro Cap Potential Growth	Pair Corr
0.69	FMDE	Fidelity Covington Trust	Pair Corr
0.88	SHV	iShares Short Treasury	Pair Corr
0.98	IYE	iShares Energy ETF	Pair Corr
0.94	VXUS	Vanguard Total Inter	Pair Corr
0.9	YOKE	YOKE Core ETF	Pair Corr
0.94	FENI	Fidelity Covington Trust	Pair Corr
0.79	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.85	EPHE	iShares MSCI Philippines	Pair Corr
0.92	CTEF	Castellan Targeted Equity	Pair Corr
0.72	DBB	Invesco DB Base	Pair Corr
0.97	BOAT	SonicShares Global	Pair Corr
0.87	EWX	SPDR SP Emerging	Pair Corr
0.91	TUSB	Thrivent ETF Trust	Pair Corr
0.86	HEZU	iShares Currency Hedged	Pair Corr
0.99	SCHD	Schwab Dividend Equity	Pair Corr
0.88	ASGM	Virtus ETF Trust	Pair Corr
0.86	RSSE	First Trust Exchange	Pair Corr

Moving against First Etf

0.81	ARKW	ARK Next Generation	Pair Corr
0.65	HUM	Humana Inc	Pair Corr

Related Correlations Analysis

	EIPX	EPOL	DDLS	AMZA	KBWD	VFQY	DBJP	RSPG	NTSI	EMQQ
EIPX		0.73	0.84	0.98	0.46	0.48	0.87	0.99	0.86	-0.74	EIPX
EPOL	0.73		0.95	0.77	0.77	0.84	0.87	0.74	0.94	-0.54	EPOL
DDLS	0.84	0.95		0.89	0.76	0.83	0.96	0.86	0.99	-0.62	DDLS
AMZA	0.98	0.77	0.89		0.54	0.56	0.9	0.98	0.89	-0.73	AMZA
KBWD	0.46	0.77	0.76	0.54		0.83	0.64	0.49	0.7	-0.3	KBWD
VFQY	0.48	0.84	0.83	0.56	0.83		0.75	0.53	0.81	-0.4	VFQY
DBJP	0.87	0.87	0.96	0.9	0.64	0.75		0.88	0.95	-0.67	DBJP
RSPG	0.99	0.74	0.86	0.98	0.49	0.53	0.88		0.87	-0.71	RSPG
NTSI	0.86	0.94	0.99	0.89	0.7	0.81	0.95	0.87		-0.61	NTSI
EMQQ	-0.74	-0.54	-0.62	-0.73	-0.3	-0.4	-0.67	-0.71	-0.61		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

RSPG	+ 0.99	EIPX
NTSI	+ 0.99	DDLS
AMZA	+ 0.98	EIPX
RSPG	+ 0.98	AMZA
DBJP	+ 0.96	DDLS
DDLS	+ 0.95	EPOL

High negative correlations

EMQQ	- 0.74	EIPX
EMQQ	- 0.73	AMZA
EMQQ	- 0.71	RSPG
EMQQ	- 0.67	DBJP
EMQQ	- 0.62	DDLS
EMQQ	- 0.61	NTSI

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	0.64	0.19	0.25	0.92	0.36	(0.78)	1.42	(0.93)	2.86
EPOL	0.99	0.16	0.13	0.25	0.94	(1.15)	2.30	(2.13)	5.45
DDLS	0.47	0.14	0.17	0.27	0.39	(0.52)	1.23	(0.89)	3.16
AMZA	0.89	0.21	0.16	1.15	0.89	(0.96)	2.23	(1.60)	4.99
KBWD	0.69	0.05	0.01	(1.93)	0.80	(0.84)	1.61	(1.24)	4.92
VFQY	0.68	0.03	0.03	0.06	0.73	(0.69)	1.84	(1.44)	3.89
DBJP	0.84	0.16	0.14	0.21	0.88	(0.88)	1.92	(1.72)	5.55
RSPG	1.15	0.26	0.17	0.62	1.12	(1.23)	2.72	(2.03)	5.76
NTSI	0.62	0.10	0.11	0.17	0.60	(0.69)	1.33	(1.12)	3.30
EMQQ	0.90	(0.23)	0.00	(0.23)	0.00	0.00	1.77	(2.39)	5.45

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