First Trust Correlations

MARB Etf

USD 19.80 0.01 0.05%

The current 90-days correlation between First Trust Vivaldi and First Trust Managed is 0.15 (i.e., Average 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 Vivaldi and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Vivaldi and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Vivaldi. 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 against First Etf

0.48	FNTC	Direxion	Pair Corr
0.46	TFLR	T Rowe Price	Pair Corr
0.45	LONZ	PIMCO ETF Trust	Pair Corr
0.4	MAGS	Roundhill Magnificent	Pair Corr
0.38	IGV	iShares Expanded Tech	Pair Corr

Related Correlations Analysis

	FMF	MRGR	FLSP	OVF	FTLS
FMF		-0.16	0.25	-0.39	0.3	FMF
MRGR	-0.16		0.31	-0.1	0.65	MRGR
FLSP	0.25	0.31		-0.24	0.47	FLSP
OVF	-0.39	-0.1	-0.24		-0.38	OVF
FTLS	0.3	0.65	0.47	-0.38		FTLS
	FMF	MRGR	FLSP	OVF	FTLS

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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

FTLS	+ 0.65	MRGR
FTLS	+ 0.47	FLSP
FLSP	+ 0.31	MRGR
FTLS	+ 0.3	FMF
FLSP	+ 0.25	FMF

High negative correlations

OVF	- 0.39	FMF
FTLS	- 0.38	OVF
OVF	- 0.24	FLSP
MRGR	- 0.16	FMF
OVF	- 0.1	MRGR

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
FMF	0.43	0.00	(0.20)	0.11	0.51	(0.44)	0.95	(0.91)	2.24
MRGR	0.15	0.02	(0.35)	(4.24)	0.14	(0.15)	0.31	(0.26)	1.61
FLSP	0.48	0.00	(0.19)	0.08	0.56	(0.54)	1.04	(0.91)	2.46
OVF	0.69	(0.07)	0.00	(23.55)	0.00	0.00	1.33	(1.65)	4.47
FTLS	0.45	0.08	(0.08)	(1.73)	0.47	(0.49)	1.01	(0.87)	3.05

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