First Trust Correlations

MMSC Etf

USD 25.44 0.07 0.27%

The current 90-days correlation between First Trust Multi and Martin Currie Sustainable is -0.29 (i.e., Very 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.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Multi Manager and DJI is 0.88 (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 Multi Manager 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 Manager. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.99	VBK	Vanguard Small Cap	Pair Corr
0.99	IWO	iShares Russell 2000	Pair Corr
0.91	IJT	iShares SP Small	Pair Corr
0.91	SLYG	SPDR SP 600	Pair Corr
0.96	PBW	Invesco WilderHill Clean	Pair Corr
0.93	JKK	iShares Morningstar	Pair Corr
0.99	VTWG	Vanguard Russell 2000	Pair Corr
0.93	VRTGX	Vanguard Russell 2000	Pair Corr
0.91	VIOG	Vanguard SP Small	Pair Corr
0.98	ISCG	iShares Morningstar	Pair Corr
0.97	ITWO	Proshares Russell 2000	Pair Corr
0.7	ELON	Battleshares TSLA	Pair Corr
0.9	CPST	Calamos ETF Trust	Pair Corr
0.8	VGUS	Vanguard Ultra Short	Pair Corr
0.89	PMAY	Innovator SP 500	Pair Corr
0.92	JANW	AIM ETF Products	Pair Corr
0.8	FIDU	Fidelity MSCI Industrials	Pair Corr
0.63	NCPB	Nuveen Core Plus	Pair Corr
0.69	GOOX	Etf Opportunities Trust	Pair Corr
0.77	PCEM	Litman Gregory Funds	Pair Corr
0.75	TAXT	Northern Trust Tax	Pair Corr
0.86	SFLO	VictoryShares Small Cap	Pair Corr
0.89	QCJA	FT Vest Nasdaq	Pair Corr
0.86	GAPR	First Trust Exchange	Pair Corr
0.95	WDNA	WisdomTree BioRevolution	Pair Corr
0.89	SIL	Global X Silver	Pair Corr
0.8	CCNR	CoreCommodity Natural	Pair Corr
0.93	ESML	iShares ESG Aware	Pair Corr
0.88	PFFA	Virtus InfraCap Preferred	Pair Corr
0.77	SPVM	Invesco SP 500	Pair Corr
0.91	TLCI	Touchstone ETF Trust	Pair Corr
0.83	CTEX	ProShares SP Kensho	Pair Corr
0.83	FPXE	First Trust IPOX	Pair Corr
0.89	UMAY	Innovator ETFs Trust	Pair Corr
0.76	BSMS	Invesco BulletShares 2028	Pair Corr

Moving against First Etf

0.6

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	CDEI	GK	MART	IWMW	JMID	LFEQ	ROKT	BTR	MFUL	MCSE
CDEI		0.81	0.56	0.48	0.61	0.76	0.38	0.33	0.34	-0.45	CDEI
GK	0.81		0.4	0.37	0.62	0.61	0.35	0.22	0.21	-0.35	GK
MART	0.56	0.4		0.96	0.78	0.91	0.91	0.93	0.93	-0.23	MART
IWMW	0.48	0.37	0.96		0.84	0.85	0.92	0.93	0.91	-0.19	IWMW
JMID	0.61	0.62	0.78	0.84		0.88	0.68	0.66	0.63	-0.36	JMID
LFEQ	0.76	0.61	0.91	0.85	0.88		0.74	0.75	0.77	-0.36	LFEQ
ROKT	0.38	0.35	0.91	0.92	0.68	0.74		0.93	0.9	-0.05	ROKT
BTR	0.33	0.22	0.93	0.93	0.66	0.75	0.93		0.99	0.03	BTR
MFUL	0.34	0.21	0.93	0.91	0.63	0.77	0.9	0.99		0.02	MFUL
MCSE	-0.45	-0.35	-0.23	-0.19	-0.36	-0.36	-0.05	0.03	0.02		MCSE
	CDEI	GK	MART	IWMW	JMID	LFEQ	ROKT	BTR	MFUL	MCSE

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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

MFUL	+ 0.99	BTR
IWMW	+ 0.96	MART
BTR	+ 0.93	MART
MFUL	+ 0.93	MART
BTR	+ 0.93	IWMW
BTR	+ 0.93	ROKT

High negative correlations

MCSE	- 0.45	CDEI
MCSE	- 0.36	LFEQ
MCSE	- 0.36	JMID
MCSE	- 0.35	GK
MCSE	- 0.23	MART
MCSE	- 0.19	IWMW

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
CDEI	0.54	0.00	(0.11)	0.10	0.75	(0.56)	1.07	(1.42)	3.59
GK	0.80	0.01	(0.06)	0.00	1.10	(0.81)	1.33	(2.18)	5.52
MART	0.26	0.02	(0.05)	0.12	0.25	(0.26)	0.56	(0.69)	2.01
IWMW	0.48	0.03	0.01	0.11	0.62	(0.47)	1.24	(1.19)	4.57
JMID	0.74	(0.03)	(0.03)	0.04	0.93	(0.80)	1.50	(1.72)	5.89
LFEQ	0.54	(0.02)	(0.04)	0.04	0.71	(0.51)	0.91	(1.23)	3.72
ROKT	1.71	0.38	0.22	0.35	1.56	(1.98)	3.97	(2.59)	9.10
BTR	0.46	0.06	0.07	0.16	0.40	(0.52)	1.13	(1.08)	2.95
MFUL	0.18	0.01	(0.13)	0.12	0.14	(0.20)	0.37	(0.37)	1.24
MCSE	0.64	0.03	(0.06)	(0.03)	0.81	(0.68)	1.26	(1.40)	3.58

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