First Trust Correlations

MDIV Etf

USD 16.87 0.12 0.72%

The current 90-days correlation between First Trust Multi and Global X SuperIncome is 0.41 (i.e., Very weak 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

Poor diversification

The correlation between First Trust Multi Asset and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Multi Asset 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 Multi Asset. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

0.91	NTSX	WisdomTree 9060 Balanced	Pair Corr
0.84	CVY	Invesco Zacks Multi	Pair Corr
0.83	HIPS	GraniteShares HIPS High	Pair Corr
0.95	ALTY	Global X Alternative	Pair Corr
0.83	VTI	Vanguard Total Stock	Pair Corr
0.83	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.83	IVV	iShares Core SP	Pair Corr
0.9	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.77	VUG	Vanguard Growth Index	Pair Corr
0.85	VO	Vanguard Mid Cap	Pair Corr
0.83	VB	Vanguard Small Cap	Pair Corr
0.79	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.69	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.7	HPQ	HP Inc	Pair Corr
0.72	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.86	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.74	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.64	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.64	BAC	Bank of America Aggressive Push	Pair Corr
0.67	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.79	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.79	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against First Etf

0.34	BND	Vanguard Total Bond	Pair Corr
0.67	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.55	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.44	KO	Coca Cola Sell-off Trend	Pair Corr
0.43	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	SPFF	IYLD	PCEF	ANGL	HYLS
SPFF		0.4	0.92	0.81	0.92	SPFF
IYLD	0.4		0.17	0.52	0.42	IYLD
PCEF	0.92	0.17		0.72	0.81	PCEF
ANGL	0.81	0.52	0.72		0.9	ANGL
HYLS	0.92	0.42	0.81	0.9		HYLS
	SPFF	IYLD	PCEF	ANGL	HYLS

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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
SPFF	0.36	0.04	(0.16)	0.34	0.26	(0.47)	0.83	(0.72)	2.08
IYLD	0.21	(0.03)	0.00	(0.09)	0.00	0.00	0.44	(0.44)	1.12
PCEF	0.33	0.00	(0.20)	0.13	0.23	(0.43)	0.72	(0.53)	1.61
ANGL	0.18	(0.01)	(0.50)	0.06	0.16	(0.22)	0.35	(0.35)	1.07
HYLS	0.14	0.00	(0.53)	0.12	0.12	(0.15)	0.34	(0.31)	0.84

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