First Trust Correlations

FMB Etf

USD 51.35 0.02 0.04%

The current 90-days correlation between First Trust Managed and Virtus InfraCap Preferred is 0.17 (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

Poor diversification

The correlation between First Trust Managed and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Managed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Managed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with First Etf

0.95	MUB	iShares National Muni Sell-off Trend	Pair Corr
0.92	VTEB	Vanguard Tax Exempt Sell-off Trend	Pair Corr
0.92	ITM	VanEck Intermediate Muni	Pair Corr
0.95	DFNM	Dimensional ETF Trust	Pair Corr
0.97	MMIT	IQ MacKay Municipal	Pair Corr
0.97	HMOP	Hartford Municipal	Pair Corr
0.96	TAXF	American Century Div	Pair Corr
0.96	JMUB	JPMorgan Municipal	Pair Corr
0.88	MUST	Columbia Multi Sector	Pair Corr
0.62	TOT	Advisor Managed Port	Pair Corr
0.78	SHLD	Global X Defense	Pair Corr
0.76	LUX	Tema Global	Pair Corr
0.86	FB	ProShares Trust ProShares	Pair Corr
0.79	SWP	SWP Growth Income	Pair Corr
0.77	FNGD	MicroSectors FANG Index	Pair Corr
0.9	CALY	Callaway Golf Symbol Change	Pair Corr
0.74	PSMO	Pacer Swan SOS	Pair Corr
0.63	TECHX	Wisdomtree Digital Trust	Pair Corr
0.91	EWM	iShares MSCI Malaysia	Pair Corr
0.89	SCHF	Schwab International	Pair Corr
0.77	UX	Roundhill Uranium ETF	Pair Corr
0.89	BIL	SPDR Bloomberg 1	Pair Corr
0.73	CURE	Direxion Daily Healthcare	Pair Corr
0.86	BRHY	BlackRock High Yield	Pair Corr
0.64	VTI	Vanguard Total Stock	Pair Corr
0.93	IBMP	iShares iBonds Dec	Pair Corr
0.91	HFXI	IQ 50 Percent	Pair Corr
0.76	VIG	Vanguard Dividend	Pair Corr
0.81	GSEE	Goldman Sachs MarketBeta Low Volatility	Pair Corr
0.73	EIPX	First Trust Exchange	Pair Corr
0.89	DDLS	WisdomTree Dynamic	Pair Corr
0.77	SMH	VanEck Semiconductor ETF	Pair Corr
0.82	DFAE	Dimensional Emerging Core	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.48	0.15	0.01	-0.05	-0.18	0.46	0.05	-0.14	-0.11	META
MSFT	0.48		0.76	-0.49	0.48	0.27	0.34	-0.15	-0.83	-0.65	MSFT
UBER	0.15	0.76		-0.45	0.42	0.5	0.05	-0.27	-0.8	-0.52	UBER
F	0.01	-0.49	-0.45		-0.59	-0.21	0.09	0.46	0.66	0.6	F
T	-0.05	0.48	0.42	-0.59		0.62	-0.15	-0.25	-0.46	-0.64	T
A	-0.18	0.27	0.5	-0.21	0.62		-0.2	-0.12	-0.31	-0.5	A
CRM	0.46	0.34	0.05	0.09	-0.15	-0.2		0.65	-0.11	-0.4	CRM
JPM	0.05	-0.15	-0.27	0.46	-0.25	-0.12	0.65		0.36	-0.05	JPM
MRK	-0.14	-0.83	-0.8	0.66	-0.46	-0.31	-0.11	0.36		0.7	MRK
XOM	-0.11	-0.65	-0.52	0.6	-0.64	-0.5	-0.4	-0.05	0.7		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.76	MSFT
XOM	+ 0.7	MRK
MRK	+ 0.66	F
JPM	+ 0.65	CRM
A	+ 0.62	T
XOM	+ 0.6	F

High negative correlations

MRK	- 0.83	MSFT
MRK	- 0.8	UBER
XOM	- 0.65	MSFT
XOM	- 0.64	T
T	- 0.59	F
XOM	- 0.52	UBER

First Trust Competition 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
META	1.45	(0.19)	0.00	(0.12)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.07	(0.13)	0.00	(0.42)	0.00	0.00	1.85	(2.50)	4.90
UBER	1.43	(0.29)	0.00	(0.33)	0.00	0.00	2.50	(3.82)	10.23
F	1.47	0.12	0.09	0.15	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.04)	0.00	(0.05)	0.00	0.00	1.63	(1.85)	4.30
A	1.20	(0.23)	0.00	(0.11)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.43	(0.22)	0.00	(0.15)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.11	(0.05)	(0.01)	0.03	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.28	0.19	0.46	1.14	(1.50)	3.59	(1.98)	8.09
XOM	1.06	0.27	0.17	4.39	0.96	(1.23)	2.38	(1.51)	5.82

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