First Trust Correlations

RNEM Etf

USD 56.11 0.33 0.58%

The current 90-days correlation between First Trust Emerging and Virtus Real Asset is 0.4 (i.e., Very weak 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 Emerging moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Emerging and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Emerging 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 Emerging. 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

0.71	IEMG	iShares Core MSCI	Pair Corr
0.71	EEM	iShares MSCI Emerging	Pair Corr
0.9	FNDE	Schwab Fundamental Sell-off Trend	Pair Corr
0.74	SFGRX	Seafarer Overseas	Pair Corr
0.73	DGS	WisdomTree Emerging	Pair Corr
0.63	XSOE	WisdomTree Emerging	Pair Corr
0.68	VTI	Vanguard Total Stock	Pair Corr
0.71	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.71	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.67	TOT	Advisor Managed Port	Pair Corr
0.73	VTV	Vanguard Value Index	Pair Corr
0.71	JEPI	JPMorgan Equity Premium	Pair Corr
0.76	XOM	Exxon Mobil Corp	Pair Corr
0.78	DD	Dupont De Nemours	Pair Corr
0.73	MRK	Merck Company	Pair Corr
0.79	AXP	American Express	Pair Corr

Moving against First Etf

0.65	HPQ	HP Inc	Pair Corr
0.54	HD	Home Depot	Pair Corr
0.49	MSFT	Microsoft	Pair Corr
0.46	T	ATT Inc	Pair Corr

Related Correlations Analysis

	VRAI	FLN	LST	FTXH	JCHI	RBLD	SHRY	RAYJ	PEMX	FTXG
VRAI		0.4	0.13	0.28	0.06	0.19	0.0	0.42	0.16	0.21	VRAI
FLN	0.4		0.68	0.91	-0.49	-0.06	-0.03	0.39	0.75	-0.22	FLN
LST	0.13	0.68		0.67	-0.14	0.33	0.63	0.28	0.78	-0.04	LST
FTXH	0.28	0.91	0.67		-0.67	-0.27	0.01	0.16	0.61	-0.02	FTXH
JCHI	0.06	-0.49	-0.14	-0.67		0.67	0.32	0.24	-0.07	-0.2	JCHI
RBLD	0.19	-0.06	0.33	-0.27	0.67		0.43	0.55	0.33	-0.22	RBLD
SHRY	0.0	-0.03	0.63	0.01	0.32	0.43		-0.04	0.24	0.3	SHRY
RAYJ	0.42	0.39	0.28	0.16	0.24	0.55	-0.04		0.46	-0.26	RAYJ
PEMX	0.16	0.75	0.78	0.61	-0.07	0.33	0.24	0.46		-0.46	PEMX
FTXG	0.21	-0.22	-0.04	-0.02	-0.2	-0.22	0.3	-0.26	-0.46		FTXG
	VRAI	FLN	LST	FTXH	JCHI	RBLD	SHRY	RAYJ	PEMX	FTXG

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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

FTXH	+ 0.91	FLN
PEMX	+ 0.78	LST
PEMX	+ 0.75	FLN
LST	+ 0.68	FLN
FTXH	+ 0.67	LST
RBLD	+ 0.67	JCHI

High negative correlations

JCHI	- 0.67	FTXH
JCHI	- 0.49	FLN
FTXG	- 0.46	PEMX
RBLD	- 0.27	FTXH
FTXG	- 0.26	RAYJ
FTXG	- 0.22	RBLD

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
VRAI	0.62	(0.04)	(0.09)	(0.01)	0.82	(0.62)	1.24	(1.19)	3.40
FLN	0.92	0.14	0.09	0.29	1.13	(0.99)	2.18	(2.11)	6.27
LST	0.68	0.00	(0.01)	0.07	0.78	(0.74)	1.33	(1.26)	3.66
FTXH	0.76	0.16	0.18	0.35	0.45	(0.95)	1.95	(1.24)	4.73
JCHI	0.79	(0.15)	0.00	(0.10)	0.00	0.00	1.27	(1.38)	5.53
RBLD	0.69	(0.07)	(0.08)	(0.01)	0.94	(0.65)	1.10	(1.49)	3.38
SHRY	0.62	(0.07)	0.00	(0.02)	0.00	0.00	1.08	(1.40)	3.46
RAYJ	1.10	(0.04)	(0.02)	0.04	1.55	(0.97)	2.60	(2.43)	7.83
PEMX	0.80	0.10	0.08	0.18	0.89	(0.88)	2.08	(1.78)	5.21
FTXG	0.60	(0.05)	0.00	(0.13)	0.00	0.00	1.29	(1.07)	4.24

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