First Trust Correlations

FMF Etf

USD 48.28 0.14 0.29%

The current 90-days correlation between First Trust Managed and Astoria Quality Kings is 0.52 (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.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Managed and DJI is 0.64 (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

0.77	DBMF	iMGP DBi Managed	Pair Corr
0.83	KMLM	KFA Mount Lucas	Pair Corr
0.81	CTA	Simplify Managed Futures	Pair Corr
0.75	WTMF	WisdomTree Managed	Pair Corr
0.64	CPST	Calamos ETF Trust	Pair Corr
0.75	ITDD	iShares Trust	Pair Corr
0.75	DEEF	Xtrackers FTSE Developed	Pair Corr
0.65	POW	Tidal Trust III	Pair Corr
0.85	IEMG	iShares Core MSCI	Pair Corr
0.72	TAXI	Northern Trust Inter	Pair Corr
0.68	BSJT	Invesco BulletShares 2029	Pair Corr
0.73	SLJY	Amplify ETF Trust	Pair Corr
0.79	VEA	Vanguard FTSE Developed	Pair Corr
0.81	IHDG	WisdomTree International	Pair Corr
0.76	DBP	Invesco DB Precious	Pair Corr
0.8	CERY	SPDR Bloomberg Enhanced	Pair Corr
0.74	HYP	Golden Eagle Dynamic	Pair Corr
0.72	YMAR	First Trust Exchange	Pair Corr
0.65	AHYB	American Century ETF	Pair Corr
0.84	TPHD	Timothy Plan High	Pair Corr
0.71	GREK	Global X MSCI	Pair Corr
0.73	PRXV	Praxis Funds	Pair Corr
0.61	SIXD	AIM ETF Products	Pair Corr
0.64	RAAA	Advisor Managed Port	Pair Corr
0.64	FXG	First Trust Consumer	Pair Corr
0.76	IAUM	iShares Gold Trust	Pair Corr
0.84	GMUN	Goldman Sachs Community	Pair Corr
0.69	CEFD	ETRACS Monthly Pay	Pair Corr
0.69	FTBI	First Trust Exchange	Pair Corr

Moving against First Etf

0.43

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	0.27	-0.24	0.15	-0.12	0.53	-0.07	-0.28	-0.32	META
MSFT	0.56		0.78	-0.55	0.52	0.25	0.35	-0.25	-0.84	-0.74	MSFT
UBER	0.27	0.78		-0.47	0.42	0.45	0.01	-0.39	-0.8	-0.51	UBER
F	-0.24	-0.55	-0.47		-0.64	-0.13	0.07	0.59	0.68	0.62	F
T	0.15	0.52	0.42	-0.64		0.55	-0.19	-0.41	-0.49	-0.64	T
A	-0.12	0.25	0.45	-0.13	0.55		-0.32	-0.22	-0.25	-0.37	A
CRM	0.53	0.35	0.01	0.07	-0.19	-0.32		0.54	-0.09	-0.33	CRM
JPM	-0.07	-0.25	-0.39	0.59	-0.41	-0.22	0.54		0.48	0.17	JPM
MRK	-0.28	-0.84	-0.8	0.68	-0.49	-0.25	-0.09	0.48		0.74	MRK
XOM	-0.32	-0.74	-0.51	0.62	-0.64	-0.37	-0.33	0.17	0.74		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.78	MSFT
XOM	+ 0.74	MRK
MRK	+ 0.68	F
XOM	+ 0.62	F
JPM	+ 0.59	F
MSFT	+ 0.56	META

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
XOM	- 0.74	MSFT
XOM	- 0.64	T
T	- 0.64	F
F	- 0.55	MSFT

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	1.42	(0.21)	0.00	(0.14)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.04	(0.18)	0.00	(0.50)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.24)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.50	0.11	0.10	0.14	1.32	(1.86)	3.69	(2.35)	16.30
T	0.87	(0.16)	0.00	(0.39)	0.00	0.00	1.53	(1.85)	4.30
A	1.21	(0.17)	0.00	(0.06)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.51	(0.23)	0.00	(0.13)	0.00	0.00	3.22	(3.10)	12.37
JPM	1.13	(0.11)	0.00	(0.01)	0.00	0.00	2.00	(3.11)	7.38
MRK	1.24	0.31	0.21	0.48	1.09	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.20	0.95	(1.22)	2.38	(1.51)	5.82

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC