First Trust Correlations

Etfs . USA . 
Etf . First Trust Rising
RDVY Etf  USD 63.23  0.51  0.81%   
The current 90-days correlation between First Trust Rising and First Trust Capital is 0.74 (i.e., Poor 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

Average diversification

The correlation between First Trust Rising and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Rising and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in First Trust Rising. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with First Etf

  0.71VTV Vanguard Value IndexPairCorr
  0.62VYM Vanguard High DividendPairCorr
  0.71IWD iShares Russell 1000PairCorr
  0.69DGRO iShares Core DividendPairCorr
  0.76IVE iShares SP 500PairCorr
  0.75DVY iShares Select DividendPairCorr
  0.74SPYV SPDR Portfolio SPPairCorr
  0.72FVD First Trust ValuePairCorr
  0.76IUSV iShares Core SPPairCorr
  0.69NOBL ProShares SP 500 Low VolatilityPairCorr
  0.65SWP SWP Growth IncomePairCorr
  0.63DUKH Ocean Park HighPairCorr
  0.61SMI VanEck Vectors ETFPairCorr
  0.66TRV The Travelers CompaniesPairCorr
  0.81CAT Caterpillar Earnings Call This WeekPairCorr
  0.85HD Home DepotPairCorr
  0.76CVX Chevron Corp Earnings Call TomorrowPairCorr

Moving against First Etf

  0.52PFE Pfizer Inc Earnings Call This WeekPairCorr

Related Correlations Analysis

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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   
FVD
+ 0.93
FTCS
SDVY
+ 0.89
FTCS
SDVY
+ 0.82
FVD
LMBS
+ 0.27
FTCS
LMBS
+ 0.21
FTGC
LMBS
+ 0.19
SDVY
  
High negative correlations   
FTGC
- 0.44
FVD
FTGC
- 0.41
FTCS
FTGC
- 0.14
SDVY

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.

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