First Trust Correlations

RFEM Etf

USD 79.19 0.05 0.06%

The current 90-days correlation between First Trust RiverFront and Cambria ETF Trust is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust RiverFront moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust RiverFront and DJI is 0.6 (i.e., 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 american community survey.

Moving together with First Etf

0.8	IEMG	iShares Core MSCI	Pair Corr
0.82	EEM	iShares MSCI Emerging	Pair Corr
0.63	SPEM	SPDR Portfolio Emerging Sell-off Trend	Pair Corr
0.72	FNDE	Schwab Fundamental	Pair Corr
0.82	ESGE	iShares ESG Aware	Pair Corr
0.75	DGS	WisdomTree Emerging	Pair Corr
0.73	XSOE	WisdomTree Emerging	Pair Corr
0.72	QLD	ProShares Ultra QQQ	Pair Corr
0.86	SMH	VanEck Semiconductor ETF	Pair Corr
0.83	UPRO	ProShares UltraPro SP500	Pair Corr
0.65	SPXL	Direxion Daily SP500	Pair Corr
0.83	SOXX	iShares Semiconductor ETF	Pair Corr
0.86	PSI	Invesco Dynamic Semi	Pair Corr
0.87	GUSA	Goldman Sachs MarketBeta	Pair Corr
0.87	ECOW	Pacer Emerging Markets	Pair Corr
0.91	AGEM	abrdn Emerging Markets	Pair Corr
0.76	HYSD	Columbia ETF Trust	Pair Corr
0.85	DFAX	Dimensional World	Pair Corr
0.71	EASG	Xtrackers MSCI EAFE	Pair Corr
0.81	TJUL	Innovator Etfs Trust	Pair Corr
0.83	HEZU	iShares Currency Hedged	Pair Corr
0.61	FSMD	Fidelity Small Mid	Pair Corr
0.72	GTR	WisdomTree Target Range	Pair Corr

Moving against First Etf

0.49

GBTC

Grayscale Bitcoin Trust

Pair Corr

Related Correlations Analysis

	BLDG	DWMF	BDRY	IBBQ	NTSE	FLCV	NBJP	CSNR	ENOR	QEMM
BLDG		0.13	-0.3	-0.17	0.31	-0.04	-0.08	-0.12	0.07	0.24	BLDG
DWMF	0.13		0.42	0.46	0.41	0.84	0.66	0.81	0.38	0.59	DWMF
BDRY	-0.3	0.42		0.65	-0.15	0.42	0.43	0.51	-0.35	0.06	BDRY
IBBQ	-0.17	0.46	0.65		-0.07	0.51	0.84	0.46	-0.22	0.14	IBBQ
NTSE	0.31	0.41	-0.15	-0.07		0.12	0.2	0.05	0.22	0.93	NTSE
FLCV	-0.04	0.84	0.42	0.51	0.12		0.63	0.88	0.53	0.37	FLCV
NBJP	-0.08	0.66	0.43	0.84	0.2	0.63		0.59	0.05	0.39	NBJP
CSNR	-0.12	0.81	0.51	0.46	0.05	0.88	0.59		0.44	0.29	CSNR
ENOR	0.07	0.38	-0.35	-0.22	0.22	0.53	0.05	0.44		0.26	ENOR
QEMM	0.24	0.59	0.06	0.14	0.93	0.37	0.39	0.29	0.26		QEMM
	BLDG	DWMF	BDRY	IBBQ	NTSE	FLCV	NBJP	CSNR	ENOR	QEMM

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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

QEMM	+ 0.93	NTSE
CSNR	+ 0.88	FLCV
FLCV	+ 0.84	DWMF
NBJP	+ 0.84	IBBQ
CSNR	+ 0.81	DWMF
NBJP	+ 0.66	DWMF

High negative correlations

ENOR	- 0.35	BDRY
BDRY	- 0.3	BLDG
ENOR	- 0.22	IBBQ
IBBQ	- 0.17	BLDG
NTSE	- 0.15	BDRY
CSNR	- 0.12	BLDG

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
BLDG	0.42	(0.07)	0.00	(0.15)	0.00	0.00	0.78	(0.94)	2.71
DWMF	0.46	0.01	(0.03)	0.06	0.49	(0.52)	0.97	(0.98)	2.44
BDRY	1.98	0.26	0.07	(0.40)	2.55	(2.00)	3.90	(4.67)	11.33
IBBQ	0.86	0.26	0.25	2.15	0.56	(1.04)	1.96	(1.26)	5.13
NTSE	0.72	0.01	0.00	0.06	0.88	(0.76)	1.58	(1.17)	4.81
FLCV	0.62	(0.03)	(0.05)	0.01	0.76	(0.67)	1.39	(1.17)	2.65
NBJP	0.64	0.09	0.04	1.14	0.85	(0.65)	1.37	(1.08)	5.34
CSNR	0.89	0.09	0.03	2.54	1.09	(0.95)	1.59	(1.59)	5.66
ENOR	0.66	(0.03)	(0.05)	0.00	0.87	(0.70)	1.24	(1.45)	4.57
QEMM	0.55	0.01	(0.01)	0.07	0.74	(0.55)	1.05	(1.10)	3.61

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