First Trust Correlations

RFEM Etf

USD 81.53 0.17 0.21%

The current 90-days correlation between First Trust RiverFront and Cambria ETF Trust is 0.27 (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 0.62 (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 manufacturing.

Moving together with First Etf

0.78	VWO	Vanguard FTSE Emerging	Pair Corr
0.91	IEMG	iShares Core MSCI	Pair Corr
0.8	EEM	iShares MSCI Emerging	Pair Corr
0.83	SPEM	SPDR Portfolio Emerging	Pair Corr
0.95	FNDE	Schwab Fundamental	Pair Corr
0.92	ESGE	iShares ESG Aware	Pair Corr
0.86	SFGRX	Seafarer Overseas	Pair Corr
0.76	DGS	WisdomTree Emerging	Pair Corr
0.88	XSOE	WisdomTree Emerging	Pair Corr
0.85	VTI	Vanguard Total Stock	Pair Corr
0.86	SPY	SPDR SP 500	Pair Corr
0.86	IVV	iShares Core SP	Pair Corr
0.85	TOT	Advisor Managed Port	Pair Corr
0.82	VTV	Vanguard Value Index	Pair Corr
0.63	VO	Vanguard Mid Cap	Pair Corr
0.8	JEPI	JPMorgan Equity Premium	Pair Corr
0.78	XOM	Exxon Mobil Corp	Pair Corr
0.72	DD	Dupont De Nemours	Pair Corr
0.67	MRK	Merck Company Aggressive Push	Pair Corr
0.77	AXP	American Express	Pair Corr

Moving against First Etf

0.63	T	ATT Inc	Pair Corr
0.56	HPQ	HP Inc	Pair Corr
0.39	MSFT	Microsoft	Pair Corr
0.33	HD	Home Depot	Pair Corr

Related Correlations Analysis

	BLDG	DWMF	BDRY	IBBQ	NTSE	FLCV	NBJP	CSNR	ENOR	QEMM
BLDG		0.38	-0.03	0.05	0.47	0.19	0.23	0.16	0.16	0.5	BLDG
DWMF	0.38		0.45	0.76	0.56	0.9	0.87	0.91	0.63	0.75	DWMF
BDRY	-0.03	0.45		0.82	-0.03	0.5	0.48	0.49	-0.09	0.15	BDRY
IBBQ	0.05	0.76	0.82		0.27	0.78	0.81	0.75	0.19	0.43	IBBQ
NTSE	0.47	0.56	-0.03	0.27		0.41	0.61	0.46	0.45	0.87	NTSE
FLCV	0.19	0.9	0.5	0.78	0.41		0.84	0.94	0.68	0.62	FLCV
NBJP	0.23	0.87	0.48	0.81	0.61	0.84		0.83	0.48	0.68	NBJP
CSNR	0.16	0.91	0.49	0.75	0.46	0.94	0.83		0.74	0.67	CSNR
ENOR	0.16	0.63	-0.09	0.19	0.45	0.68	0.48	0.74		0.59	ENOR
QEMM	0.5	0.75	0.15	0.43	0.87	0.62	0.68	0.67	0.59		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

CSNR	+ 0.94	FLCV
CSNR	+ 0.91	DWMF
FLCV	+ 0.9	DWMF
NBJP	+ 0.87	DWMF
QEMM	+ 0.87	NTSE
NBJP	+ 0.84	FLCV

High negative correlations

ENOR	- 0.09	BDRY
NTSE	- 0.03	BDRY
BDRY	- 0.03	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	0.40	(0.01)	(0.13)	0.04	0.51	(0.42)	0.90	(0.82)	2.71
DWMF	0.46	0.02	(0.03)	0.13	0.44	(0.52)	0.97	(0.98)	2.89
BDRY	2.01	0.24	0.06	1.60	2.50	(2.05)	3.98	(4.67)	11.33
IBBQ	0.90	0.15	0.13	0.32	0.72	(1.08)	2.10	(1.31)	5.24
NTSE	0.76	0.08	0.02	0.39	0.78	(0.84)	1.72	(1.17)	4.81
FLCV	0.61	0.00	(0.01)	0.09	0.65	(0.67)	1.36	(1.10)	2.61
NBJP	0.65	0.10	0.03	0.66	0.86	(0.65)	1.30	(1.08)	3.70
CSNR	0.93	0.06	0.04	0.15	1.06	(1.00)	1.63	(1.59)	5.66
ENOR	0.66	(0.02)	(0.06)	0.05	0.79	(0.72)	1.35	(1.29)	4.57
QEMM	0.57	0.04	0.01	0.14	0.65	(0.60)	1.09	(1.10)	3.61

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