First Trust Correlations

Etfs . USA . 
Etf . First Trust RiverFront
RFEU Etf  USD 59.93  0.01  0.02%   
The current 90-days correlation between First Trust RiverFront and First Trust RiverFront is 0.24 (i.e., Modest 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

Good diversification

The correlation between First Trust RiverFront and DJI is -0.03 (i.e., Good 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.
  
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 income.

Moving together with First Etf

  0.86VGK Vanguard FTSE EuropePairCorr
  0.71EZU iShares MSCI Eurozone Low VolatilityPairCorr
  0.86BBEU JPMorgan BetaBuilders Low VolatilityPairCorr
  0.81IEUR iShares Core MSCIPairCorr
  0.64FEZ SPDR EURO STOXXPairCorr
  0.86IEV iShares Europe ETFPairCorr
  0.81FEP First Trust EuropePairCorr

Moving against First Etf

  0.69YCS ProShares UltraShort Yen Potential GrowthPairCorr
  0.51GBTC Grayscale Bitcoin TrustPairCorr
  0.41MLPR ETRACS Quarterly PayPairCorr
  0.64IBIT iShares Bitcoin Trust Aggressive PushPairCorr
  0.61TBT ProShares UltraShortPairCorr
  0.61SEIX Virtus ETF TrustPairCorr
  0.58ICSH iShares Ultra ShortPairCorr
  0.53XLY Consumer DiscretionaryPairCorr
  0.52BETE ProShares TrustPairCorr
  0.49ATMP Barclays ETN Select Low VolatilityPairCorr
  0.49HFGO Hartford Large CapPairCorr
  0.48PVI Invesco VRDO TaxPairCorr
  0.39RXI iShares Global ConsumerPairCorr
  0.37QQQ Invesco QQQ Trust Aggressive PushPairCorr
  0.35EWV ProShares UltraShort MSCIPairCorr
  0.34SHYG iShares 0 5PairCorr

Related Correlations Analysis

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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   
FEUZ
+ 0.79
RFDI
RNEM
+ 0.79
RFEM
RNEM
+ 0.72
FEUZ
FEUZ
+ 0.59
RFEM
RNEM
+ 0.58
RFDI
RFEM
+ 0.52
RFDI
  
High negative correlations   
RNEM
- 0.0
RNDM
FEUZ
- 0.0
RNDM
RNDM
- 0.0
RFEM
RNDM
- 0.0
RFDI

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.

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