First Trust Correlations

RFDI Etf

USD 87.79 0.69 0.79%

The current 90-days correlation between First Trust RiverFront and BlackRock ETF Trust is 0.89 (i.e., Very 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.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust RiverFront and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust RiverFront and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in First Trust RiverFront. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with First Etf

0.99	EFV	iShares MSCI EAFE	Pair Corr
0.99	FNDF	Schwab Fundamental	Pair Corr
0.99	VYMI	Vanguard International	Pair Corr
0.99	IDV	iShares International	Pair Corr
0.99	DFIV	Dimensional International	Pair Corr
0.99	IVLU	iShares Edge MSCI	Pair Corr
0.98	RODM	Hartford Multifactor	Pair Corr
0.99	PXF	Invesco FTSE RAFI	Pair Corr
0.95	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.97	PID	Invesco International	Pair Corr
0.94	OIH	VanEck Oil Services	Pair Corr
0.75	WTMF	WisdomTree Managed	Pair Corr
0.91	EWC	iShares MSCI Canada	Pair Corr
0.73	TOT	Advisor Managed Port	Pair Corr
0.68	BST	BlackRock Science Tech	Pair Corr
0.94	QLV	FlexShares Quality Low	Pair Corr
0.86	SIXJ	AIM ETF Products	Pair Corr
0.95	NBCE	Neuberger Berman ETF	Pair Corr
0.84	TERG	Leverage Shares 2X	Pair Corr
0.86	DOGG	First Trust Exchange	Pair Corr
0.91	PFF	iShares Preferred Sell-off Trend	Pair Corr
0.91	UMAY	Innovator ETFs Trust	Pair Corr
0.9	XYLD	Global X SP	Pair Corr
0.87	NCPB	Nuveen Core Plus	Pair Corr
0.86	JANW	AIM ETF Products	Pair Corr
0.87	XAUG	FT Cboe Vest	Pair Corr
0.95	REGL	ProShares SP MidCap	Pair Corr
0.98	CCNR	CoreCommodity Natural	Pair Corr
0.96	EMES	Harbor ETF Trust	Pair Corr
0.96	IQSZ	Invesco Actively Managed	Pair Corr
0.99	FNDC	Schwab Fundamental	Pair Corr
0.99	EURL	Direxion Daily FTSE	Pair Corr
0.99	WLDR	Affinity World Leaders	Pair Corr
0.97	PCEM	Litman Gregory Funds	Pair Corr
0.94	DFSD	Dimensional ETF Trust	Pair Corr

Moving against First Etf

0.7	ARKW	ARK Next Generation	Pair Corr
0.57	HUM	Humana Inc	Pair Corr

Related Correlations Analysis

	FEM	FDD	FYC	JHEM	IAT	GSSC	OSCV	IAK	BIDD
FEM		0.93	0.77	0.99	0.83	0.79	0.91	-0.05	0.98	FEM
FDD	0.93		0.84	0.93	0.94	0.86	0.87	0.2	0.98	FDD
FYC	0.77	0.84		0.75	0.85	0.99	0.72	0.04	0.83	FYC
JHEM	0.99	0.93	0.75		0.83	0.77	0.92	-0.03	0.98	JHEM
IAT	0.83	0.94	0.85	0.83		0.89	0.87	0.32	0.91	IAT
GSSC	0.79	0.86	0.99	0.77	0.89		0.79	0.06	0.86	GSSC
OSCV	0.91	0.87	0.72	0.92	0.87	0.79		0.09	0.92	OSCV
IAK	-0.05	0.2	0.04	-0.03	0.32	0.06	0.09		0.06	IAK
BIDD	0.98	0.98	0.83	0.98	0.91	0.86	0.92	0.06		BIDD
	FEM	FDD	FYC	JHEM	IAT	GSSC	OSCV	IAK	BIDD

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

JHEM	+ 0.99	FEM
GSSC	+ 0.99	FYC
BIDD	+ 0.98	FEM
BIDD	+ 0.98	FDD
BIDD	+ 0.98	JHEM
IAT	+ 0.94	FDD

High negative correlations

IAK	- 0.05	FEM
IAK	- 0.03	JHEM

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
FEM	0.76	0.15	0.11	0.29	0.80	(0.81)	1.54	(1.26)	5.07
FDD	0.69	0.15	0.14	0.27	0.66	(0.74)	1.71	(1.35)	4.29
FYC	1.01	0.06	0.07	0.12	0.97	(1.13)	2.21	(1.79)	5.45
JHEM	0.65	0.16	0.17	0.35	0.48	(0.71)	1.80	(1.08)	4.06
IAT	1.00	0.22	0.20	0.28	0.86	(1.17)	2.42	(1.59)	5.98
GSSC	0.81	0.06	0.08	0.12	0.78	(0.93)	2.01	(1.54)	4.78
OSCV	0.61	0.13	0.18	0.24	0.27	(0.72)	1.76	(0.94)	3.35
IAK	0.68	0.00	(0.05)	0.07	0.82	(0.73)	1.27	(0.91)	5.19
BIDD	0.55	0.12	0.13	0.24	0.47	(0.62)	1.32	(1.02)	3.09

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