First Trust Correlations

RNSC Etf

USD 31.38 0.47 1.48%

The current 90-days correlation between First Trust Small and First Trust Exchange Traded is 0.08 (i.e., Significant 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

Good diversification

The correlation between First Trust Small and DJI is -0.09 (i.e., Good 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.

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 Small. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with First Etf

0.74	VBR	Vanguard Small Cap	Pair Corr
0.84	IWN	iShares Russell 2000	Pair Corr
0.68	DFAT	Dimensional Targeted	Pair Corr
0.74	IJS	iShares SP Small	Pair Corr
0.74	SLYV	SPDR SP 600	Pair Corr
0.68	AVUV	Avantis Small Cap	Pair Corr
0.76	DES	WisdomTree SmallCap	Pair Corr
0.72	MDYV	SPDR SP 400	Pair Corr
0.72	REGL	ProShares SP MidCap Low Volatility	Pair Corr
0.68	VTI	Vanguard Total Stock	Pair Corr
0.63	SPY	SPDR SP 500	Pair Corr
0.63	IVV	iShares Core SP	Pair Corr
0.68	VTV	Vanguard Value Index	Pair Corr
0.84	VO	Vanguard Mid Cap	Pair Corr
0.71	VEA	Vanguard FTSE Developed	Pair Corr
0.79	VB	Vanguard Small Cap	Pair Corr
0.65	VWO	Vanguard FTSE Emerging	Pair Corr
0.75	EFA	iShares MSCI EAFE	Pair Corr
0.7	VYM	Vanguard High Dividend	Pair Corr
0.71	SOXL	Direxion Daily Semic Buyout Trend	Pair Corr
0.7	ARLU	AIM ETF Products	Pair Corr
0.68	PQJL	PGIM Nasdaq 100	Pair Corr
0.83	ESN	Essential 40 Stock	Pair Corr
0.69	SCYB	Schwab Strategic Trust	Pair Corr
0.75	DDX	Defined Duration Symbol Change	Pair Corr
0.71	PAPI	Morgan Stanley ETF	Pair Corr
0.78	QTUM	Defiance Quantum ETF	Pair Corr
0.88	RYLG	Global X Russell	Pair Corr
0.65	JEPI	JPMorgan Equity Premium	Pair Corr
0.61	SCHD	Schwab Dividend Equity	Pair Corr

Related Correlations Analysis

	KNGZ	SHRY	RNMC	EMCS	DWEQ	CIZ	SDEF	FLEU	SDEI	CSF
KNGZ		0.91	0.83	0.68	0.0	0.0	0.0	0.88	0.0	0.28	KNGZ
SHRY	0.91		0.87	0.61	0.0	0.0	0.0	0.78	0.0	0.29	SHRY
RNMC	0.83	0.87		0.59	0.0	0.0	0.0	0.81	0.0	0.25	RNMC
EMCS	0.68	0.61	0.59		0.0	0.0	0.0	0.84	0.0	0.36	EMCS
DWEQ	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	DWEQ
CIZ	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CIZ
SDEF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SDEF
FLEU	0.88	0.78	0.81	0.84	0.0	0.0	0.0		0.0	0.33	FLEU
SDEI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SDEI
CSF	0.28	0.29	0.25	0.36	0.0	0.0	0.0	0.33	0.0		CSF
	KNGZ	SHRY	RNMC	EMCS	DWEQ	CIZ	SDEF	FLEU	SDEI	CSF

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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

SHRY	+ 0.91	KNGZ
FLEU	+ 0.88	KNGZ
RNMC	+ 0.87	SHRY
FLEU	+ 0.84	EMCS
RNMC	+ 0.83	KNGZ
FLEU	+ 0.81	RNMC

High negative correlations

CSF	- 0.0	SDEI
SDEI	- 0.0	FLEU
CSF	- 0.0	SDEF
SDEI	- 0.0	SDEF
FLEU	- 0.0	SDEF
CSF	- 0.0	CIZ

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	0.67	0.04	(0.05)	0.53	0.77	(0.73)	1.70	(1.33)	3.81
SHRY	0.62	(0.01)	(0.11)	0.02	0.79	(0.63)	1.22	(1.33)	3.46
RNMC	0.58	0.04	(0.09)	(0.17)	0.65	(0.68)	1.41	(1.09)	3.09
EMCS	0.74	0.15	0.07	1.89	0.71	(0.84)	1.55	(1.44)	4.12
DWEQ	0.00	0.00	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	0.00	0.00
SDEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FLEU	0.54	0.10	0.02	2.03	0.47	(0.58)	1.11	(0.85)	2.85
SDEI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CSF	6,422	3,577	55.41	37.75	0.00	(12,510)	34,233	(99.61)	55,035

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