First Trust Correlations
| RNSC Etf | USD 30.92 0.02 0.06% |
The current 90-days correlation between First Trust Small and VictoryShares 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.
First Trust Correlation With Market
Poor diversification
The correlation between First Trust Small and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Small and DJI in the same portfolio, assuming nothing else is changed.
Moving together with First Etf
| 0.71 | VBR | Vanguard Small Cap | PairCorr |
| 0.74 | IWN | iShares Russell 2000 | PairCorr |
| 0.67 | DFAT | Dimensional Targeted | PairCorr |
| 0.72 | IJS | iShares SP Small | PairCorr |
| 0.72 | SLYV | SPDR SP 600 | PairCorr |
| 0.66 | AVUV | Avantis Small Cap | PairCorr |
| 0.62 | DES | WisdomTree SmallCap | PairCorr |
| 0.7 | MDYV | SPDR SP 400 | PairCorr |
| 0.7 | CALF | Pacer Small Cap | PairCorr |
| 0.82 | WTMF | WisdomTree Managed | PairCorr |
| 0.77 | EWC | iShares MSCI Canada | PairCorr |
| 0.82 | TOT | Advisor Managed Port | PairCorr |
| 0.79 | BST | BlackRock Science Tech | PairCorr |
| 0.87 | VBK | Vanguard Small Cap | PairCorr |
| 0.67 | BINC | BlackRock ETF Trust Sell-off Trend | PairCorr |
| 0.87 | OASC | OneAscent Small Cap | PairCorr |
| 0.77 | AHYB | American Century ETF | PairCorr |
| 0.77 | AA | Alcoa Corp | PairCorr |
| 0.62 | HD | Home Depot | PairCorr |
| 0.8 | BA | Boeing | PairCorr |
Moving against First Etf
| 0.51 | HPQ | HP Inc | PairCorr |
| 0.41 | T | ATT Inc Aggressive Push | PairCorr |
| 0.39 | TRV | The Travelers Companies | PairCorr |
| 0.35 | MMM | 3M Company | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| KNGZ | 0.66 | 0.09 | 0.10 | 0.19 | 0.57 | 1.73 | 4.28 | |||
| SHRY | 0.59 | 0.07 | 0.07 | 0.20 | 0.46 | 1.34 | 3.46 | |||
| RNMC | 0.57 | 0.08 | 0.00 | 0.73 | 0.51 | 1.58 | 3.24 | |||
| EMCS | 0.78 | 0.16 | 0.14 | 0.32 | 0.64 | 1.93 | 5.25 | |||
| DWEQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CIZ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SDEF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FLEU | 0.65 | 0.10 | 0.09 | 0.22 | 0.54 | 1.58 | 3.33 | |||
| SDEI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CSF | 6,422 | 3,594 | 55.41 | (40.32) | 0.00 | 34,233 | 55,035 |