First Trust Correlations

RFDI Etf

USD 80.51 0.36 0.45%

The current 90-days correlation between First Trust RiverFront and Avantis International Small is 0.88 (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

Very poor diversification

The correlation between First Trust RiverFront and DJI is 0.8 (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 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

0.98	EFV	iShares MSCI EAFE	Pair Corr
0.98	FNDF	Schwab Fundamental	Pair Corr
0.98	VYMI	Vanguard International	Pair Corr
0.94	IDV	iShares International	Pair Corr
0.97	DFIV	Dimensional International	Pair Corr
0.98	IVLU	iShares Edge MSCI	Pair Corr
0.99	RODM	Hartford Multifactor	Pair Corr
0.98	PXF	Invesco FTSE RAFI	Pair Corr
0.94	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.93	PID	Invesco International	Pair Corr
0.87	ITDD	iShares Trust	Pair Corr
0.73	AMPD	Tidal ETF Services	Pair Corr
0.94	CPST	Calamos ETF Trust	Pair Corr
0.72	ITWO	Proshares Russell 2000	Pair Corr
0.84	CALI	iShares Short Term	Pair Corr
0.92	PJFM	PGIM ETF Trust	Pair Corr
0.84	DDFO	Innovator Equity Dual	Pair Corr
0.93	CPSL	Calamos Laddered	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.66	CAT	Caterpillar	Pair Corr
0.8	AXP	American Express	Pair Corr
0.81	JPM	JPMorgan Chase	Pair Corr
0.69	CSCO	Cisco Systems	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.75	DD	Dupont De Nemours	Pair Corr
0.77	MRK	Merck Company	Pair Corr
0.74	XOM	Exxon Mobil Corp	Pair Corr
0.73	WMT	Walmart Common Stock	Pair Corr

Moving against First Etf

0.58	T	ATT Inc Aggressive Push	Pair Corr
0.52	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	AVDS	GSEE	EMMF	DGRE	FYT	TDSC	BLES	ECML	KCCA	IEZ
AVDS		0.44	0.54	0.69	0.88	0.79	0.92	0.89	-0.08	0.44	AVDS
GSEE	0.44		0.85	0.72	0.22	0.58	0.61	0.17	0.1	0.39	GSEE
EMMF	0.54	0.85		0.89	0.43	0.79	0.7	0.37	-0.36	0.75	EMMF
DGRE	0.69	0.72	0.89		0.51	0.76	0.72	0.49	-0.33	0.71	DGRE
FYT	0.88	0.22	0.43	0.51		0.78	0.87	0.98	-0.25	0.54	FYT
TDSC	0.79	0.58	0.79	0.76	0.78		0.89	0.75	-0.44	0.7	TDSC
BLES	0.92	0.61	0.7	0.72	0.87	0.89		0.85	-0.1	0.52	BLES
ECML	0.89	0.17	0.37	0.49	0.98	0.75	0.85		-0.24	0.49	ECML
KCCA	-0.08	0.1	-0.36	-0.33	-0.25	-0.44	-0.1	-0.24		-0.73	KCCA
IEZ	0.44	0.39	0.75	0.71	0.54	0.7	0.52	0.49	-0.73		IEZ
	AVDS	GSEE	EMMF	DGRE	FYT	TDSC	BLES	ECML	KCCA	IEZ

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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

ECML	+ 0.98	FYT
BLES	+ 0.92	AVDS
ECML	+ 0.89	AVDS
DGRE	+ 0.89	EMMF
BLES	+ 0.89	TDSC
FYT	+ 0.88	AVDS

High negative correlations

IEZ	- 0.73	KCCA
KCCA	- 0.44	TDSC
KCCA	- 0.36	EMMF
KCCA	- 0.33	DGRE
KCCA	- 0.25	FYT
KCCA	- 0.24	ECML

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
AVDS	0.59	0.03	0.02	0.08	0.68	(0.60)	1.28	(1.31)	2.91
GSEE	0.73	0.01	0.01	0.07	0.94	(0.77)	1.59	(1.32)	4.78
EMMF	0.56	0.02	0.00	0.08	0.76	(0.57)	1.04	(1.11)	3.91
DGRE	0.65	0.10	0.10	0.18	0.70	(0.71)	1.66	(1.32)	4.07
FYT	0.81	(0.03)	(0.02)	0.02	1.04	(0.82)	1.83	(1.59)	4.48
TDSC	0.45	(0.02)	(0.07)	0.01	0.54	(0.49)	0.76	(0.84)	2.13
BLES	0.54	(0.01)	(0.02)	0.04	0.72	(0.52)	1.15	(1.27)	2.74
ECML	0.63	(0.02)	(0.03)	0.02	0.70	(0.78)	1.27	(1.21)	3.72
KCCA	0.51	0.02	(0.03)	(0.13)	0.88	(0.49)	0.99	(0.97)	4.71
IEZ	1.33	0.05	0.03	0.10	1.84	(1.33)	2.27	(3.17)	9.31

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