First Trust Correlations

FMF Etf

USD 51.15 0.35 0.69%

The current 90-days correlation between First Trust Managed and Astoria Quality Kings is -0.07 (i.e., Good diversification).When First Trust exhibits high correlation with a broad index, its returns are largely explained by market-wide movements rather than company-specific drivers.

First Trust Correlation to Market

Average diversification

Across the chosen horizon, FMF and DJI show a correlation of 0.19 and fall into the Average diversification bucket. In portfolio terms, the overlap visualization shows how much shared movement remains after both positions are combined.

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Investing Opportunities provides context for diversified portfolio construction. Refined allocation visibility enhances overall portfolio context. This reflects a position in First Trust Managed within the allocation view. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with First Etf

0.95	DBMF	iMGP DBi Managed	Pair Corr
0.94	KMLM	KFA Mount Lucas	Pair Corr
0.96	CTA	Simplify Managed Futures	Pair Corr
0.86	WTMF	WisdomTree Managed	Pair Corr
0.78	SHLD	Global X Defense	Pair Corr
0.71	LUX	Tema Global	Pair Corr
0.68	FB	ProShares Trust ProShares	Pair Corr
0.77	FNGD	MicroSectors FANG Index	Pair Corr
0.87	TBG	EA Series Trust	Pair Corr
0.84	AUMI	Themes Gold Miners	Pair Corr
0.81	INR	Infinity Natural	Pair Corr
0.91	IFRA	iShares Infrastructure	Pair Corr
0.82	FNDE	Schwab Fundamental	Pair Corr
0.8	EFNL	iShares MSCI Finland	Pair Corr
0.88	GLD	SPDR Gold Shares	Pair Corr
0.84	DD	Dupont De Nemours	Pair Corr
0.82	PFE	Pfizer Inc	Pair Corr
0.77	T	ATT Inc Earnings Call This Week	Pair Corr
0.91	JNJ	Johnson Johnson	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr
0.87	CAT	Caterpillar	Pair Corr
0.93	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.87	MRK	Merck Company	Pair Corr
0.87	KO	Coca Cola Aggressive Push	Pair Corr
0.85	VZ	Verizon Communications	Pair Corr
0.75	MCD	McDonalds	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr

Moving against First Etf

0.8	HUM	Humana Inc	Pair Corr
0.67	IND	Xtrackers Nifty 500	Pair Corr
0.87	MSFT	Microsoft	Pair Corr
0.83	IBM	International Business	Pair Corr
0.73	BAC	Bank of America	Pair Corr
0.69	DIS	Walt Disney Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	-0.03	0.0	0.1	-0.05	-0.02	0.13	-0.08	0.05	META
MSFT	-0.01		0.85	-0.07	-0.91	0.83	0.97	0.56	-0.92	-0.95	MSFT
UBER	-0.03	0.85		-0.03	-0.85	0.84	0.83	0.44	-0.81	-0.83	UBER
F	0.0	-0.07	-0.03		-0.06	0.32	-0.09	0.35	0.21	0.01	F
T	0.1	-0.91	-0.85	-0.06		-0.86	-0.86	-0.48	0.83	0.87	T
A	-0.05	0.83	0.84	0.32	-0.86		0.81	0.71	-0.71	-0.85	A
CRM	-0.02	0.97	0.83	-0.09	-0.86	0.81		0.62	-0.89	-0.97	CRM
JPM	0.13	0.56	0.44	0.35	-0.48	0.71	0.62		-0.38	-0.62	JPM
MRK	-0.08	-0.92	-0.81	0.21	0.83	-0.71	-0.89	-0.38		0.91	MRK
XOM	0.05	-0.95	-0.83	0.01	0.87	-0.85	-0.97	-0.62	0.91		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

CRM	+ 0.97	MSFT
XOM	+ 0.91	MRK
XOM	+ 0.87	T
UBER	+ 0.85	MSFT
A	+ 0.84	UBER
A	+ 0.83	MSFT

High negative correlations

XOM	- 0.97	CRM
XOM	- 0.95	MSFT
MRK	- 0.92	MSFT
T	- 0.91	MSFT
MRK	- 0.89	CRM
CRM	- 0.86	T

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	-0.03	0.00	-0.09	0.00	0.00	2.30	-2.81	13.69
MSFT	1.28	-0.25	0.00	-0.77	0.00	0.00	2.19	-2.87	13.28
UBER	1.58	-0.31	0.00	-0.96	0.00	0.00	2.70	-3.82	11.09
F	1.34	-0.04	0.00	-0.09	0.00	0.00	3.61	-2.64	10.01
T	1.13	0.13	0.14	-0.58	1.21	-1.28	3.87	-1.92	8.53
A	1.29	-0.34	0.00	-0.37	0.00	0.00	2.48	-3.01	7.20
CRM	1.74	-0.36	0.00	-0.66	0.00	0.00	3.41	-4.75	9.78
JPM	1.24	-0.08	0.00	-0.10	0.00	0.00	2.34	-3.11	8.17
MRK	1.18	0.27	0.19	0.49	1.27	-1.29	2.54	-2.06	7.29
XOM	1.34	0.43	0.32	14.65	1.12	-1.57	2.90	-2.44	6.83

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