First Trust Correlations

ERM Etf

USD 23.09 0.00 0.00%

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 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Good diversification

The correlation between First Trust and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with First Etf

0.66	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.89	PULS	PGIM Ultra Short Sell-off Trend	Pair Corr
0.63	MPAY	Akros Monthly Payout	Pair Corr
0.84	CPST	Calamos ETF Trust	Pair Corr
0.84	JANW	AIM ETF Products	Pair Corr
0.82	LOUP	Innovator Loup Frontier	Pair Corr
0.77	TRFK	Pacer Funds Trust	Pair Corr
0.93	XLY	Consumer Discretionary	Pair Corr
0.81	AIPI	REX AI Equity	Pair Corr
0.79	FFTY	Innovator IBD 50	Pair Corr
0.76	IBLC	iShares Blockchain and	Pair Corr
0.93	ARKQ	ARK Autonomous Technology Low Volatility	Pair Corr
0.89	AMZU	Direxion Daily AMZN	Pair Corr
0.74	CGUS	Capital Group Core	Pair Corr
0.75	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.79	IYW	iShares Technology ETF	Pair Corr
0.68	ENFR	Alerian Energy Infra	Pair Corr
0.67	IDAT	Ishares Trust	Pair Corr
0.9	BTC	Grayscale Bitcoin Mini	Pair Corr
0.8	IPAY	Amplify ETF Trust	Pair Corr
0.9	NERD	Roundhill Video Games	Pair Corr
0.88	SOFR	SOFR Symbol Change	Pair Corr
0.88	DAT	ProShares Big Data	Pair Corr
0.86	QJUN	First Trust Exchange	Pair Corr
0.76	IYZ	IShares Telecommunicatio	Pair Corr

Moving against First Etf

0.88	BITI	ProShares Trust	Pair Corr
0.74	GREI	Goldman Sachs Future	Pair Corr
0.48	NOBL	ProShares SP 500	Pair Corr
0.5	MCHI	iShares MSCI China	Pair Corr

Related Correlations Analysis

	SALN	MBCC	LCG	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3
SALN		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SALN
MBCC	0.0		0.87	-0.05	0.2	0.61	0.44	0.42	0.23	0.54	MBCC
LCG	0.0	0.87		-0.1	-0.02	0.54	0.71	0.27	0.49	0.71	LCG
AQUI	0.0	-0.05	-0.1		0.79	0.37	-0.37	0.63	-0.55	-0.11	AQUI
MSTSX	0.0	0.2	-0.02	0.79		0.59	-0.57	0.88	-0.74	-0.23	MSTSX
LBHIX	0.0	0.61	0.54	0.37	0.59		0.05	0.76	-0.2	0.22	LBHIX
VIASP	0.0	0.44	0.71	-0.37	-0.57	0.05		-0.32	0.86	0.72	VIASP
RRTLX	0.0	0.42	0.27	0.63	0.88	0.76	-0.32		-0.57	-0.04	RRTLX
OSHDF	0.0	0.23	0.49	-0.55	-0.74	-0.2	0.86	-0.57		0.45	OSHDF
70082LAB3	0.0	0.54	0.71	-0.11	-0.23	0.22	0.72	-0.04	0.45		70082LAB3
	SALN	MBCC	LCG	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RRTLX	+ 0.88	MSTSX
LCG	+ 0.87	MBCC
OSHDF	+ 0.86	VIASP
MSTSX	+ 0.79	AQUI
RRTLX	+ 0.76	LBHIX
70082LAB3	+ 0.72	VIASP

High negative correlations

OSHDF	- 0.74	MSTSX
OSHDF	- 0.57	RRTLX
VIASP	- 0.57	MSTSX
OSHDF	- 0.55	AQUI
VIASP	- 0.37	AQUI
RRTLX	- 0.32	VIASP

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
SALN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MBCC	0.57	0.01	(0.04)	0.09	0.80	(0.56)	1.05	(1.16)	4.33
LCG	0.94	0.08	0.03	3.43	1.27	(0.93)	1.82	(1.85)	5.59
AQUI	2.79	(1.43)	0.00	(11.74)	0.00	0.00	0.00	0.00	93.33
MSTSX	0.55	(0.13)	0.00	(0.85)	0.00	0.00	1.03	(1.02)	7.08
LBHIX	0.11	(0.02)	0.00	(1.10)	0.00	0.00	0.24	(0.24)	0.94
VIASP	0.76	0.15	0.08	(0.97)	1.03	(0.87)	2.00	(1.20)	4.90
RRTLX	0.28	(0.07)	0.00	4.18	0.00	0.00	0.40	(0.56)	3.47
OSHDF	46.68	24.81	0.00	(1.39)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.67	0.10	0.06	0.80	0.81	(0.84)	1.78	(0.78)	6.86

First Trust Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with First Trust etf to make a market-neutral strategy. Peer analysis of First Trust could also be used in its relative valuation, which is a method of valuing First Trust by comparing valuation metrics with similar companies.

Salon City Northern Lights Sterling Capital Focus Aquagold International Morningstar Unconstrained Allocation Thrivent High Yield Via Renewables T Rowe Price Oshidori International Holdings US70082LAB36 American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

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