First Trust Correlations

MMSC Etf

USD 25.74 0.17 0.66%

The current 90-days correlation between First Trust Multi and Martin Currie Sustainable is -0.05 (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.

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

0.95	VBK	Vanguard Small Cap	Pair Corr
0.95	IWO	iShares Russell 2000	Pair Corr
0.94	IJT	iShares SP Small Potential Growth	Pair Corr
0.9	SLYG	SPDR SP 600	Pair Corr
0.83	PBW	Invesco WilderHill Clean	Pair Corr
0.94	JKK	iShares Morningstar	Pair Corr
0.95	VTWG	Vanguard Russell 2000	Pair Corr
0.95	VRTGX	Vanguard Russell 2000	Pair Corr
0.94	VIOG	Vanguard SP Small Potential Growth	Pair Corr
0.95	ISCG	iShares Morningstar	Pair Corr
0.81	MUU	Direxion Daily MU	Pair Corr
0.79	GDXU	MicroSectors Gold Miners	Pair Corr
0.81	MULL	GraniteShares 2x Long	Pair Corr
0.79	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.8	JNUG	Direxion Daily Junior	Pair Corr
0.82	KORU	Direxion Daily South	Pair Corr
0.79	NUGT	Direxion Daily Gold	Pair Corr
0.72	SHNY	Microsectors Gold Trending	Pair Corr
0.77	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.82	SLVR	Sprott Silver Miners	Pair Corr
0.88	PEY	Invesco High Yield	Pair Corr
0.8	EEMO	Invesco SP Emerging	Pair Corr
0.76	DIVD	Altrius Global Dividend	Pair Corr
0.82	GAL	SPDR SSgA Global	Pair Corr
0.88	BA	Boeing	Pair Corr
0.74	CVX	Chevron Corp Earnings Call Today	Pair Corr
0.73	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.73	WMT	Walmart Common Stock	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.85	INTC	Intel	Pair Corr

Moving against First Etf

0.74	T	ATT Inc Earnings Call This Week	Pair Corr
0.55	HPQ	HP Inc	Pair Corr
0.45	MSFT	Microsoft	Pair Corr
0.41	VZ	Verizon Communications Earnings Call Today	Pair Corr

Related Correlations Analysis

	CDEI	GK	MART	IWMW	JMID	LFEQ	ROKT	BTR	MFUL	MCSE
CDEI		0.72	0.85	0.76	0.8	0.94	0.6	0.77	0.81	0.08	CDEI
GK	0.72		0.67	0.8	0.88	0.85	0.62	0.7	0.85	0.32	GK
MART	0.85	0.67		0.86	0.84	0.93	0.89	0.96	0.91	0.28	MART
IWMW	0.76	0.8	0.86		0.95	0.88	0.85	0.88	0.94	0.54	IWMW
JMID	0.8	0.88	0.84	0.95		0.91	0.79	0.88	0.94	0.38	JMID
LFEQ	0.94	0.85	0.93	0.88	0.91		0.77	0.9	0.95	0.26	LFEQ
ROKT	0.6	0.62	0.89	0.85	0.79	0.77		0.94	0.88	0.5	ROKT
BTR	0.77	0.7	0.96	0.88	0.88	0.9	0.94		0.94	0.33	BTR
MFUL	0.81	0.85	0.91	0.94	0.94	0.95	0.88	0.94		0.43	MFUL
MCSE	0.08	0.32	0.28	0.54	0.38	0.26	0.5	0.33	0.43		MCSE
	CDEI	GK	MART	IWMW	JMID	LFEQ	ROKT	BTR	MFUL	MCSE

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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
CDEI	0.53	(0.02)	(0.05)	0.02	0.72	(0.54)	1.07	(1.19)	3.63
GK	0.77	(0.07)	0.00	(0.03)	0.00	0.00	1.15	(2.18)	5.15
MART	0.24	0.02	(0.03)	0.11	0.31	(0.23)	0.56	(0.55)	1.93
IWMW	0.48	(0.03)	(0.04)	0.01	0.95	(0.42)	1.15	(1.43)	4.10
JMID	0.69	(0.05)	(0.05)	0.00	0.95	(0.69)	1.33	(1.72)	3.46
LFEQ	0.53	(0.01)	(0.03)	0.03	0.79	(0.47)	0.91	(1.23)	3.72
ROKT	1.56	0.33	0.20	0.29	1.52	(1.75)	3.95	(2.58)	7.47
BTR	0.49	0.03	0.03	0.10	0.50	(0.56)	0.93	(0.93)	2.58
MFUL	0.20	(0.01)	(0.13)	0.02	0.24	(0.22)	0.37	(0.51)	1.24
MCSE	0.64	0.01	(0.04)	(0.16)	0.81	(0.68)	1.26	(1.40)	3.58

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