First Trust Correlations

RND Etf

29.03 0.03 0.10%

The current 90-days correlation between First Trust Bloomberg and Direxion Shares ETF is 0.62 (i.e., Poor 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.

First Trust Correlation With Market

Very good diversification

The correlation between First Trust Bloomberg and DJI is -0.37 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Bloomberg 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 Bloomberg. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with First Etf

0.89	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.91	TECL	Direxion Daily Technology	Pair Corr
0.89	ROM	ProShares Ultra Tech	Pair Corr
0.91	QLD	ProShares Ultra QQQ	Pair Corr

Moving against First Etf

0.62	RSP	Invesco SP 500	Pair Corr
0.57	SPLG	SSgA Symbol Change	Pair Corr
0.57	SOXX	iShares Semiconductor ETF	Pair Corr
0.52	VIG	Vanguard Dividend	Pair Corr
0.45	SMH	VanEck Semiconductor ETF	Pair Corr
0.4	DFAC	Dimensional Core Equity	Pair Corr
0.77	DXJ	WisdomTree Japan Hedged	Pair Corr
0.76	EMIF	iShares Emerging Markets	Pair Corr
0.75	ERET	iShares Environmentally	Pair Corr
0.72	VYMI	Vanguard International	Pair Corr
0.71	BSMS	Invesco BulletShares 2028	Pair Corr
0.68	DISV	Dimensional ETF Trust	Pair Corr
0.68	DWM	WisdomTree International	Pair Corr
0.66	CCNR	CoreCommodity Natural	Pair Corr
0.63	VLU	SPDR SP 1500	Pair Corr
0.62	FNDA	Schwab Fundamental Small	Pair Corr
0.61	PSI	Invesco Dynamic Semi	Pair Corr
0.61	KNGZ	First Trust Exchange	Pair Corr
0.38	NAPR	Innovator Nasdaq 100	Pair Corr
0.38	QTAP	Innovator Growth 100	Pair Corr
0.76	GCAL	Goldman Sachs ETF	Pair Corr
0.71	PID	Invesco International	Pair Corr
0.7	MEXX	Direxion Daily MSCI	Pair Corr
0.69	FIEE	FiEE Inc Symbol Change	Pair Corr

Related Correlations Analysis

	JPAN	GMMA	VERS	SNPD	IQRA	WCEO	BBB	QQJG	LMBO
JPAN		0.75	-0.66	0.95	0.94	0.79	-0.65	0.08	-0.66	JPAN
GMMA	0.75		-0.2	0.75	0.59	0.89	-0.17	0.29	-0.28	GMMA
VERS	-0.66	-0.2		-0.74	-0.81	-0.27	0.95	0.33	0.89	VERS
SNPD	0.95	0.75	-0.74		0.93	0.81	-0.71	0.07	-0.74	SNPD
IQRA	0.94	0.59	-0.81	0.93		0.62	-0.81	-0.14	-0.77	IQRA
WCEO	0.79	0.89	-0.27	0.81	0.62		-0.24	0.43	-0.38	WCEO
BBB	-0.65	-0.17	0.95	-0.71	-0.81	-0.24		0.3	0.92	BBB
QQJG	0.08	0.29	0.33	0.07	-0.14	0.43	0.3		0.06	QQJG
LMBO	-0.66	-0.28	0.89	-0.74	-0.77	-0.38	0.92	0.06		LMBO
	JPAN	GMMA	VERS	SNPD	IQRA	WCEO	BBB	QQJG	LMBO

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

SNPD	+ 0.95	JPAN
BBB	+ 0.95	VERS
IQRA	+ 0.94	JPAN
IQRA	+ 0.93	SNPD
LMBO	+ 0.92	BBB
WCEO	+ 0.89	GMMA

High negative correlations

BBB	- 0.81	IQRA
IQRA	- 0.81	VERS
LMBO	- 0.77	IQRA
LMBO	- 0.74	SNPD
SNPD	- 0.74	VERS
BBB	- 0.71	SNPD

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
JPAN	0.75	0.19	0.19	0.37	0.53	(0.87)	2.17	(1.20)	5.71
GMMA	0.24	0.00	(0.14)	0.08	0.29	(0.28)	0.52	(0.42)	1.98
VERS	1.35	(0.13)	0.00	(0.04)	0.00	0.00	3.00	(3.05)	8.20
SNPD	0.51	0.15	0.17	0.34	0.34	(0.59)	1.25	(1.02)	2.85
IQRA	0.42	0.15	0.16	0.59	0.13	(0.47)	0.86	(0.72)	2.57
WCEO	0.71	0.06	0.07	0.13	0.62	(0.83)	1.61	(1.34)	4.56
BBB	0.86	(0.13)	0.00	(0.05)	0.00	0.00	1.78	(2.00)	6.09
QQJG	0.84	0.09	0.00	(0.30)	0.93	(1.08)	1.73	(1.51)	6.37
LMBO	5.00	(0.34)	0.00	(0.01)	0.00	0.00	11.19	(9.26)	30.35

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