First Trust Correlations

MFLX Etf

USD 17.25 0.02 0.12%

The current 90-days correlation between First Trust Flexible and Franklin Liberty Intermediate is 0.33 (i.e., Weak 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

Good diversification

The correlation between First Trust Flexible and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Flexible and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Flexible. 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 economic analysis.

Moving against First Etf

0.38

IAUF

IShares

Pair Corr

Related Correlations Analysis

	FLMI	HMOP	MMIT
FLMI		0.87	0.82	FLMI
HMOP	0.87		0.96	HMOP
MMIT	0.82	0.96		MMIT
	FLMI	HMOP	MMIT

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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
FLMI	0.21	0.02	(0.31)	(0.17)	0.26	(0.23)	0.37	(0.36)	1.75
HMOP	0.16	0.01	(0.42)	0.00	0.23	(0.17)	0.33	(0.41)	1.34
MMIT	0.15	0.01	(0.44)	0.00	0.20	(0.18)	0.41	(0.29)	1.45

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First Trust Correlations

First Trust Correlation With Market

Good diversification

Moving against First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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