First Trust Correlations

RFEU Etf

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The current 90-days correlation between First Trust RiverFront and Exchange Listed Funds is -0.11 (i.e., Good 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

Poor diversification

The correlation between First Trust RiverFront and DJI is 0.69 (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.

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Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with First Etf

0.86	VGK	Vanguard FTSE Europe	Pair Corr
0.85	EZU	iShares MSCI Eurozone	Pair Corr
0.86	BBEU	JPMorgan BetaBuilders	Pair Corr
0.86	IEUR	iShares Core MSCI	Pair Corr
0.83	FEZ	SPDR EURO STOXX	Pair Corr
0.86	IEV	iShares Europe ETF	Pair Corr
0.84	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.86	DBEU	Xtrackers MSCI Europe	Pair Corr
0.83	HEZU	iShares Currency Hedged	Pair Corr
0.67	SHLD	Global X Defense	Pair Corr
0.77	LUX	Tema Global	Pair Corr
0.82	SWP	SWP Growth Income	Pair Corr
0.9	FNGD	MicroSectors FANG Index	Pair Corr
0.7	CALY	Callaway Golf Symbol Change	Pair Corr
0.94	VDC	Vanguard Consumer Staples	Pair Corr
0.64	GPGCX	Grandeur Peak Global	Pair Corr
0.64	ERET	iShares Environmentally	Pair Corr
0.91	DFIV	Dimensional International Sell-off Trend	Pair Corr
0.86	DFE	WisdomTree Europe	Pair Corr
0.85	RHRX	Starboard Investment	Pair Corr
0.88	FNK	First Trust Mid	Pair Corr
0.9	FTCS	First Trust Capital	Pair Corr
0.84	LALT	Invesco Multi Strategy	Pair Corr
0.7	DIA	SPDR Dow Jones	Pair Corr
0.82	AHYB	American Century ETF	Pair Corr
0.9	ESGD	iShares ESG Aware	Pair Corr
0.9	UEVM	VictoryShares Emerging	Pair Corr
0.72	QTAP	Innovator Growth 100	Pair Corr
0.92	STXV	EA Series Trust	Pair Corr
0.87	ILOW	AB Active ETFs	Pair Corr
0.89	FEM	First Trust Emerging	Pair Corr
0.74	URA	Global X Uranium	Pair Corr
0.88	IOCT	Innovator ETFs Trust	Pair Corr

Moving against First Etf

0.79	HUM	Humana Inc	Pair Corr
0.43	IND	Xtrackers Nifty 500	Pair Corr

Related Correlations Analysis

	EMDV	SCDS	BRAZ	ESIX	PWER	UGE	EZJ	MCDS	ESMV	LQAI
EMDV		0.69	0.81	0.76	0.81	0.82	0.88	0.82	0.82	0.69	EMDV
SCDS	0.69		0.84	0.97	0.92	0.81	0.84	0.93	0.81	0.79	SCDS
BRAZ	0.81	0.84		0.83	0.95	0.92	0.9	0.83	0.83	0.71	BRAZ
ESIX	0.76	0.97	0.83		0.91	0.86	0.89	0.95	0.83	0.7	ESIX
PWER	0.81	0.92	0.95	0.91		0.91	0.92	0.93	0.88	0.77	PWER
UGE	0.82	0.81	0.92	0.86	0.91		0.95	0.85	0.85	0.61	UGE
EZJ	0.88	0.84	0.9	0.89	0.92	0.95		0.92	0.88	0.68	EZJ
MCDS	0.82	0.93	0.83	0.95	0.93	0.85	0.92		0.91	0.77	MCDS
ESMV	0.82	0.81	0.83	0.83	0.88	0.85	0.88	0.91		0.79	ESMV
LQAI	0.69	0.79	0.71	0.7	0.77	0.61	0.68	0.77	0.79		LQAI
	EMDV	SCDS	BRAZ	ESIX	PWER	UGE	EZJ	MCDS	ESMV	LQAI

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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
EMDV	0.44	0.02	(0.05)	0.15	0.39	(0.50)	0.98	(0.78)	2.36
SCDS	0.77	0.07	0.08	0.14	0.70	(0.84)	1.77	(1.57)	4.79
BRAZ	1.27	0.27	0.12	0.42	1.74	(1.32)	2.53	(2.97)	9.07
ESIX	0.86	0.05	0.07	0.12	0.86	(1.02)	2.56	(1.78)	6.36
PWER	1.10	0.31	0.20	0.44	1.04	(1.25)	2.42	(2.05)	7.79
UGE	1.31	0.43	0.31	4.91	0.77	(1.63)	2.97	(2.05)	6.91
EZJ	1.52	0.36	0.24	0.32	1.25	(1.87)	4.28	(2.91)	11.92
MCDS	0.59	0.07	0.09	0.15	0.48	(0.67)	1.44	(1.04)	4.21
ESMV	0.38	0.03	(0.02)	0.14	0.35	(0.42)	0.95	(0.76)	2.26
LQAI	0.60	0.04	0.01	0.14	0.67	(0.68)	1.13	(1.16)	5.62

First Trust Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with First Trust etf to make a market-neutral strategy. Peer analysis of First Trust could also be used in its relative valuation, which is a method of valuing First Trust by comparing valuation metrics with similar companies.

ProShares MSCI Emerging JPMorgan Fundamental Data Global X Funds SPDR SP SmallCap Macquarie ETF Trust ProShares Ultra Consumer ProShares Ultra MSCI JPMorgan Fundamental Data iShares ESG MSCI Exchange Listed Funds American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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