First Trust Correlations
| LMBS Etf | USD 48.97 0.13 0.27% |
The current 90-days correlation between First Trust Low and FlexShares Disciplined Duration is 0.7 (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
Good diversification
The correlation between First Trust Low and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Low and DJI in the same portfolio, assuming nothing else is changed.
First |
Moving together with First Etf
| 0.95 | SHY | iShares 1 3 | PairCorr |
| 0.91 | SPTS | SPDR Barclays Short | PairCorr |
| 0.89 | AGZ | iShares Agency Bond | PairCorr |
| 0.95 | UTWO | Rbb Fund | PairCorr |
| 0.96 | XTWO | Bondbloxx ETF Trust | PairCorr |
| 0.91 | XTRE | Bondbloxx ETF Trust | PairCorr |
| 0.89 | BND | Vanguard Total Bond | PairCorr |
| 0.7 | VEA | Vanguard FTSE Developed | PairCorr |
| 0.83 | NEAR | iShares Short Maturity | PairCorr |
| 0.65 | VZ | Verizon Communications Sell-off Trend | PairCorr |
| 0.71 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.71 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Moving against First Etf
| 0.5 | BTC | Grayscale Bitcoin Mini | PairCorr |
| 0.45 | VUG | Vanguard Growth Index | PairCorr |
| 0.41 | VTI | Vanguard Total Stock | PairCorr |
| 0.41 | VO | Vanguard Mid Cap | PairCorr |
| 0.41 | VB | Vanguard Small Cap | PairCorr |
| 0.4 | SPY | SPDR SP 500 Aggressive Push | PairCorr |
| 0.4 | IVV | iShares Core SP | PairCorr |
| 0.37 | ETH | Grayscale Ethereum Mini | PairCorr |
| 0.6 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.54 | EOS | Eaton Vance Enhanced | PairCorr |
| 0.54 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.49 | HPQ | HP Inc | PairCorr |
| 0.45 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.38 | WMT | Walmart Aggressive Push | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MBSD | 0.23 | (0.01) | 0.00 | 0.60 | 0.00 | 0.44 | 1.66 | |||
| VMBS | 0.24 | (0.01) | 0.00 | 0.37 | 0.00 | 0.51 | 1.51 | |||
| MTBA | 0.17 | (0.02) | 0.00 | 1.84 | 0.00 | 0.24 | 1.16 | |||
| MTGP | 0.28 | (0.02) | 0.00 | (1.08) | 0.00 | 0.58 | 2.37 | |||
| MBB | 0.26 | (0.01) | 0.00 | 0.46 | 0.00 | 0.48 | 1.70 | |||
| OWNS | 0.24 | (0.02) | 0.00 | 1.11 | 0.00 | 0.40 | 1.27 | |||
| GNMA | 0.28 | (0.02) | 0.00 | 1.25 | 0.00 | 0.51 | 1.46 | |||
| JMBS | 0.26 | (0.01) | 0.00 | 0.32 | 0.00 | 0.55 | 1.59 | |||
| SMBS | 0.25 | 0.15 | 0.00 | 16.39 | 0.00 | 0.91 | 1.31 |