First Trust Correlations

RFEU Etf

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The current 90-days correlation between First Trust RiverFront and Exchange Listed Funds is -0.12 (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 0.78 (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 housing.

Moving together with First Etf

0.89	VGK	Vanguard FTSE Europe	Pair Corr
0.87	EZU	iShares MSCI Eurozone	Pair Corr
0.91	BBEU	JPMorgan BetaBuilders	Pair Corr
0.88	IEUR	iShares Core MSCI	Pair Corr
0.86	FEZ	SPDR EURO STOXX	Pair Corr
0.88	IEV	iShares Europe ETF	Pair Corr
0.83	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.85	EUFN	iShares MSCI Europe	Pair Corr
0.89	DBEU	Xtrackers MSCI Europe	Pair Corr
0.88	HEZU	iShares Currency Hedged	Pair Corr
0.86	MUU	Direxion Daily MU	Pair Corr
0.84	GDXU	MicroSectors Gold Miners	Pair Corr
0.86	MULL	GraniteShares 2x Long	Pair Corr
0.87	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.86	JNUG	Direxion Daily Junior	Pair Corr
0.82	KORU	Direxion Daily South	Pair Corr
0.86	NUGT	Direxion Daily Gold	Pair Corr
0.77	SHNY	Microsectors Gold Trending	Pair Corr
0.84	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.88	SLVR	Sprott Silver Miners	Pair Corr
0.75	DD	Dupont De Nemours Sell-off Trend	Pair Corr
0.91	AA	Alcoa Corp	Pair Corr
0.74	WMT	Walmart Common Stock	Pair Corr
0.75	CVX	Chevron Corp Earnings Call Tomorrow	Pair Corr
0.87	BA	Boeing	Pair Corr

Moving against First Etf

0.81	HPQ	HP Inc	Pair Corr
0.8	T	ATT Inc Earnings Call This Week	Pair Corr
0.5	MMM	3M Company	Pair Corr
0.41	IBM	International Business	Pair Corr

Related Correlations Analysis

	EMDV	SCDS	BRAZ	ESIX	PWER	UGE	EZJ	MCDS	ESMV	LQAI
EMDV		0.46	0.04	0.5	0.59	0.37	0.44	0.56	0.55	-0.28	EMDV
SCDS	0.46		0.43	0.98	0.9	0.84	0.82	0.97	0.65	0.24	SCDS
BRAZ	0.04	0.43		0.4	0.47	0.55	0.46	0.35	0.42	0.47	BRAZ
ESIX	0.5	0.98	0.4		0.87	0.82	0.78	0.97	0.71	0.19	ESIX
PWER	0.59	0.9	0.47	0.87		0.84	0.87	0.88	0.65	0.07	PWER
UGE	0.37	0.84	0.55	0.82	0.84		0.77	0.77	0.63	0.03	UGE
EZJ	0.44	0.82	0.46	0.78	0.87	0.77		0.81	0.59	0.31	EZJ
MCDS	0.56	0.97	0.35	0.97	0.88	0.77	0.81		0.71	0.21	MCDS
ESMV	0.55	0.65	0.42	0.71	0.65	0.63	0.59	0.71		0.22	ESMV
LQAI	-0.28	0.24	0.47	0.19	0.07	0.03	0.31	0.21	0.22		LQAI
	EMDV	SCDS	BRAZ	ESIX	PWER	UGE	EZJ	MCDS	ESMV	LQAI

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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

ESIX	+ 0.98	SCDS
MCDS	+ 0.97	SCDS
MCDS	+ 0.97	ESIX
PWER	+ 0.9	SCDS
MCDS	+ 0.88	PWER
PWER	+ 0.87	ESIX

High negative correlations

LQAI

- 0.28

EMDV

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	0.39	0.03	(0.04)	0.45	0.38	(0.46)	0.88	(0.69)	3.01
SCDS	0.80	0.05	0.05	0.09	0.94	(0.87)	1.77	(1.79)	4.82
BRAZ	1.15	0.36	0.18	0.50	1.53	(1.29)	2.53	(1.96)	9.07
ESIX	0.80	0.01	0.02	0.06	0.84	(0.90)	1.93	(1.60)	5.10
PWER	0.93	0.27	0.19	0.89	0.86	(1.02)	2.09	(1.99)	4.48
UGE	1.17	0.09	0.04	0.30	1.25	(1.36)	2.53	(2.05)	6.54
EZJ	1.37	0.18	0.07	0.66	1.75	(1.39)	3.27	(3.28)	9.12
MCDS	0.60	0.01	0.00	0.06	0.70	(0.63)	1.44	(1.28)	3.68
ESMV	0.51	(0.03)	(0.06)	0.00	0.86	(0.50)	0.83	(0.86)	7.02
LQAI	0.74	(0.07)	0.00	(0.03)	0.00	0.00	1.30	(2.48)	5.26

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