First Trust Correlations

RNSC Etf

USD 31.03 0.15 0.48%

The current 90-days correlation between First Trust Small and SPDR SP 600 is -0.16 (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 0.79 (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.

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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

0.64	VBR	Vanguard Small Cap	Pair Corr
0.64	IJJ	iShares SP Mid	Pair Corr
0.74	DES	WisdomTree SmallCap	Pair Corr
0.64	ITWO	Proshares Russell 2000	Pair Corr
0.82	DVXB	WEBs Defined Volatility	Pair Corr
0.79	SAWS	AAM Sawgrass Small	Pair Corr

Related Correlations Analysis

	SLYG	IYF	MDYV	DXJ	CALF	DFIS	BBEU	VMIAX	DON	FEZ
SLYG		0.59	0.96	0.52	0.85	0.75	0.82	0.6	0.79	0.84	SLYG
IYF	0.59		0.7	0.54	0.7	0.79	0.76	0.76	0.77	0.74	IYF
MDYV	0.96	0.7		0.65	0.93	0.77	0.87	0.6	0.84	0.87	MDYV
DXJ	0.52	0.54	0.65		0.77	0.47	0.74	0.19	0.42	0.67	DXJ
CALF	0.85	0.7	0.93	0.77		0.71	0.85	0.45	0.78	0.86	CALF
DFIS	0.75	0.79	0.77	0.47	0.71		0.81	0.77	0.86	0.81	DFIS
BBEU	0.82	0.76	0.87	0.74	0.85	0.81		0.62	0.74	0.97	BBEU
VMIAX	0.6	0.76	0.6	0.19	0.45	0.77	0.62		0.74	0.62	VMIAX
DON	0.79	0.77	0.84	0.42	0.78	0.86	0.74	0.74		0.77	DON
FEZ	0.84	0.74	0.87	0.67	0.86	0.81	0.97	0.62	0.77		FEZ
	SLYG	IYF	MDYV	DXJ	CALF	DFIS	BBEU	VMIAX	DON	FEZ

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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
SLYG	0.78	0.06	(0.03)	(0.15)	0.98	(0.79)	1.68	(1.47)	4.01
IYF	0.65	(0.01)	(0.02)	0.06	0.90	(0.70)	1.26	(1.46)	4.04
MDYV	0.70	0.07	(0.02)	(0.25)	0.93	(0.70)	1.83	(1.33)	3.88
DXJ	0.73	0.17	0.09	2.28	0.90	(0.79)	1.67	(1.21)	7.08
CALF	0.70	0.05	(0.03)	(1.46)	0.92	(0.81)	1.37	(1.64)	4.14
DFIS	0.59	0.06	0.00	0.54	0.68	(0.61)	1.20	(1.20)	2.66
BBEU	0.57	0.08	0.02	1.23	0.53	(0.62)	1.17	(1.04)	2.44
VMIAX	0.80	(0.01)	(0.01)	0.07	0.83	(0.88)	1.84	(1.63)	3.69
DON	0.59	0.00	(0.09)	0.16	0.78	(0.61)	1.47	(1.22)	3.19
FEZ	0.65	0.06	(0.01)	1.06	0.74	(0.67)	1.22	(1.25)	2.98

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First Trust Correlations

First Trust Correlation With Market

Poor diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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