First Trust Correlations

Etfs . USA . 
Etf . First Trust SMID
SDVY Etf  USD 37.09  0.09  0.24%   
The current 90-days correlation between First Trust SMID and First Trust Rising is 0.66 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust SMID and DJI is 0.4 (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 SMID and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in First Trust SMID. 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

  0.99VBR Vanguard Small CapPairCorr
  0.94IWN iShares Russell 2000 Sell-off TrendPairCorr
  0.98DFAT Dimensional TargetedPairCorr
  0.93IJS iShares SP SmallPairCorr
  0.93SLYV SPDR SP 600PairCorr
  0.97AVUV Avantis Small CapPairCorr
  0.94DES WisdomTree SmallCapPairCorr
  0.96MDYV SPDR SP 400PairCorr
  0.88CALF Pacer Small CapPairCorr
  0.96REGL ProShares SP MidCapPairCorr
  0.74CONL GraniteShares ETF TrustPairCorr
  0.7XOM Exxon Mobil CorpPairCorr
  0.85TRV The Travelers CompaniesPairCorr
  0.81CVX Chevron CorpPairCorr
  0.65BAC Bank of America Aggressive PushPairCorr
  0.74VZ Verizon Communications Aggressive PushPairCorr
  0.71DD Dupont De NemoursPairCorr
  0.63INTC IntelPairCorr
  0.65HPQ HP IncPairCorr
  0.61PG Procter Gamble Sell-off TrendPairCorr
  0.85CAT CaterpillarPairCorr

Moving against First Etf

  0.71WTID UBS ETRACSPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
RNDV
+ 0.89
RDVY
CSB
+ 0.81
RNDV
CSB
+ 0.71
RDVY
RNSC
+ 0.0
RDVY
RNMC
+ 0.0
RDVY
RNSC
+ 0.0
RNDV
  
High negative correlations   
CSB
- 0.0
RNMC
CSB
- 0.0
RNSC
RNMC
- 0.0
RNSC
RNMC
- 0.0
RNDV
RNSC
- 0.0
RNDV
RNMC
- 0.0
RDVY

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY