First Trust Correlations

EMDM Etf

36.37 0.15 0.41%

The current 90-days correlation between First Trust Bloomberg and ProShares Equities for is 0.45 (i.e., Very weak diversification).The correlation of First Trust is a statistical measure of how it moves in relation to other instruments. The correlation coefficient ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5.

First Trust vs Market Correlation

Very weak diversification

Across the chosen horizon, EMDM and DJI show a correlation of 0.55 and fall into the Very weak diversification bucket. In portfolio terms, the overlap visualization shows how much shared movement remains after both positions are combined.

Build AI portfolio with First Etf

Use Investing Opportunities to better understand diversified portfolio construction. Additional portfolio transparency improves capital positioning. This includes a position in First Trust Bloomberg across the allocation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Moving together with First Etf

0.92	VWO	Vanguard FTSE Emerging	Pair Corr
0.98	IEMG	iShares Core MSCI	Pair Corr
0.95	EMC	Global X Funds	Pair Corr
0.97	EEM	iShares MSCI Emerging	Pair Corr
0.93	SPEM	SPDR Portfolio Emerging Sell-off Trend	Pair Corr
0.98	FNDE	Schwab Fundamental	Pair Corr
0.97	ESGE	iShares ESG Aware	Pair Corr
0.98	SFGRX	Seafarer Overseas	Pair Corr
0.99	DGS	WisdomTree Emerging	Pair Corr
0.98	XSOE	WisdomTree Emerging	Pair Corr
0.92	SMH	VanEck Semiconductor ETF	Pair Corr
0.93	SOXX	iShares Semiconductor ETF	Pair Corr
0.96	PSI	Invesco Dynamic	Pair Corr
0.95	OBOR	KraneShares MSCI One	Pair Corr
0.64	BNO	United States Brent	Pair Corr
0.92	MRK	Merck Company	Pair Corr
0.78	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.87	PG	Procter Gamble	Pair Corr
0.89	KO	Coca Cola	Pair Corr
0.83	WMT	Walmart Common Stock	Pair Corr
0.93	CVX	Chevron Corp	Pair Corr
0.94	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.64	GE	GE Aerospace	Pair Corr
0.74	AA	Alcoa Corp Buyout Trend	Pair Corr
0.71	MCD	McDonalds	Pair Corr
0.75	T	ATT Inc Earnings Call This Week	Pair Corr
0.93	CAT	Caterpillar	Pair Corr

Moving against First Etf

0.78	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.64	TECL	Direxion Daily Technology	Pair Corr
0.61	ROM	ProShares Ultra	Pair Corr
0.52	QLD	ProShares Ultra QQQ Sell-off Trend	Pair Corr
0.88	MSFT	Microsoft	Pair Corr
0.77	IBM	International Business	Pair Corr
0.73	AXP	American Express	Pair Corr
0.56	BAC	Bank of America Sell-off Trend	Pair Corr
0.48	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	TXSS	JHID	LBO	SIMS	SPDG	DMCY	ASCE	EQLT	EBIT	EQRR
TXSS		-0.76	0.69	-0.49	-0.74	-0.69	-0.53	-0.72	-0.68	-0.73	TXSS
JHID	-0.76		-0.76	0.64	0.95	0.94	0.81	0.97	0.91	0.92	JHID
LBO	0.69	-0.76		-0.33	-0.73	-0.86	-0.4	-0.68	-0.6	-0.73	LBO
SIMS	-0.49	0.64	-0.33		0.67	0.49	0.77	0.64	0.72	0.63	SIMS
SPDG	-0.74	0.95	-0.73	0.67		0.88	0.75	0.9	0.95	0.94	SPDG
DMCY	-0.69	0.94	-0.86	0.49	0.88		0.7	0.9	0.83	0.89	DMCY
ASCE	-0.53	0.81	-0.4	0.77	0.75	0.7		0.81	0.8	0.69	ASCE
EQLT	-0.72	0.97	-0.68	0.64	0.9	0.9	0.81		0.88	0.91	EQLT
EBIT	-0.68	0.91	-0.6	0.72	0.95	0.83	0.8	0.88		0.9	EBIT
EQRR	-0.73	0.92	-0.73	0.63	0.94	0.89	0.69	0.91	0.9		EQRR
	TXSS	JHID	LBO	SIMS	SPDG	DMCY	ASCE	EQLT	EBIT	EQRR

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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

EQLT	+ 0.97	JHID
SPDG	+ 0.95	JHID
EBIT	+ 0.95	SPDG
DMCY	+ 0.94	JHID
EQRR	+ 0.94	SPDG
EQRR	+ 0.92	JHID

High negative correlations

DMCY	- 0.86	LBO
LBO	- 0.76	JHID
JHID	- 0.76	TXSS
SPDG	- 0.74	TXSS
EQRR	- 0.73	LBO
SPDG	- 0.73	LBO

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
TXSS	0.39	-0.06	0.00	0.12	0.00	0.00	1.09	-1.14	6.73
JHID	0.58	0.14	0.16	0.19	0.74	-0.62	1.13	-1.27	4.73
LBO	1.20	-0.30	0.00	-0.24	0.00	0.00	2.20	-3.53	7.77
SIMS	1.06	-0.02	0.00	0.08	0.00	0.00	2.19	-2.40	7.62
SPDG	0.57	0.07	0.09	0.06	0.71	-0.59	1.49	-1.24	3.71
DMCY	0.47	0.15	0.26	1.07	0.32	-0.58	1.13	-0.97	2.71
ASCE	0.87	0.02	0.03	-0.23	1.07	-0.93	1.44	-1.90	6.09
EQLT	0.95	0.17	0.12	0.15	1.22	-1.00	2.18	-1.56	7.39
EBIT	0.76	0.06	0.06	0.03	0.87	-0.89	2.10	-1.63	5.13
EQRR	0.71	0.09	0.08	0.07	0.96	-0.71	1.33	-1.80	5.32

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