First Trust Correlations

FMF Etf

USD 47.98 0.19 0.39%

The current 90-days correlation between First Trust Managed and WisdomTree Managed Futures is 0.47 (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

Weak diversification

The correlation between First Trust Managed and DJI is 0.32 (i.e., Weak 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 bureau of economic analysis.

Moving together with First Etf

0.75	DBMF	iMGP DBi Managed	Pair Corr
0.95	WTMF	WisdomTree Managed	Pair Corr
0.83	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.73	AMPD	Tidal ETF Services	Pair Corr
0.79	PMBS	PIMCO Mortgage Backed	Pair Corr
0.8	ITWO	Proshares Russell 2000	Pair Corr
0.87	PQDI	Principal Exchange	Pair Corr
0.82	IWD	iShares Russell 1000	Pair Corr
0.88	VRNIX	Vanguard Scottsdale Funds	Pair Corr
0.76	BGT	BlackRock Floating Rate	Pair Corr
0.89	DSI	iShares MSCI KLD	Pair Corr
0.89	IBMR	iShares Trust	Pair Corr
0.85	SSEUF	SSgA SPDR ETFs	Pair Corr
0.87	IWO	iShares Russell 2000	Pair Corr
0.91	VEU	Vanguard FTSE All	Pair Corr
0.83	TNA	Direxion Daily Small Aggressive Push	Pair Corr
0.89	SIXD	AIM ETF Products	Pair Corr
0.89	CIL	VictoryShares International	Pair Corr
0.65	NYF	iShares New York	Pair Corr
0.9	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.9	ISHP	First Trust S	Pair Corr
0.8	ESIX	SPDR SP SmallCap	Pair Corr
0.84	MDLV	EA Series Trust	Pair Corr
0.67	EMM	Global X Funds	Pair Corr
0.65	FDCE	Regents Park Funds	Pair Corr
0.88	YMAR	First Trust Exchange	Pair Corr
0.76	WTTSX	Wisdomtree Digital Trust	Pair Corr
0.88	IWV	iShares Russell 3000	Pair Corr
0.75	DES	WisdomTree SmallCap	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.89	0.48	0.66	0.59	0.49	-0.76	0.76	0.59	0.32	META
MSFT	0.89		0.51	0.73	0.36	0.42	-0.67	0.92	0.64	0.43	MSFT
UBER	0.48	0.51		0.84	0.4	0.54	-0.15	0.63	0.65	0.38	UBER
F	0.66	0.73	0.84		0.43	0.63	-0.43	0.81	0.83	0.57	F
T	0.59	0.36	0.4	0.43		0.47	-0.48	0.38	0.54	0.07	T
A	0.49	0.42	0.54	0.63	0.47		-0.13	0.55	0.76	0.67	A
CRM	-0.76	-0.67	-0.15	-0.43	-0.48	-0.13		-0.45	-0.41	-0.07	CRM
JPM	0.76	0.92	0.63	0.81	0.38	0.55	-0.45		0.73	0.52	JPM
MRK	0.59	0.64	0.65	0.83	0.54	0.76	-0.41	0.73		0.64	MRK
XOM	0.32	0.43	0.38	0.57	0.07	0.67	-0.07	0.52	0.64		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

JPM	+ 0.92	MSFT
MSFT	+ 0.89	META
F	+ 0.84	UBER
MRK	+ 0.83	F
JPM	+ 0.81	F
JPM	+ 0.76	META

High negative correlations

CRM	- 0.76	META
CRM	- 0.67	MSFT
CRM	- 0.48	T
JPM	- 0.45	CRM
CRM	- 0.43	F
MRK	- 0.41	CRM

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	1.39	0.19	0.13	0.32	1.12	(1.70)	3.16	(2.27)	14.28
MSFT	0.72	0.11	0.07	0.32	0.64	(0.81)	1.80	(1.42)	5.71
UBER	1.40	0.02	0.00	0.12	1.69	(1.49)	2.72	(3.36)	11.37
F	1.31	0.05	0.04	0.13	1.52	(1.34)	2.55	(2.36)	7.46
T	0.76	0.05	(0.03)	0.50	0.98	(0.75)	1.63	(1.96)	5.41
A	1.41	(0.04)	0.01	0.07	1.76	(1.45)	2.82	(2.60)	9.19
CRM	1.25	(0.34)	0.00	(0.17)	0.00	0.00	2.32	(3.26)	6.27
JPM	0.83	0.07	0.07	0.17	0.89	(0.91)	1.78	(1.51)	5.19
MRK	1.14	0.11	0.06	0.22	1.37	(1.12)	2.90	(1.91)	7.79
XOM	1.00	0.08	0.00	0.59	1.24	(1.00)	2.14	(2.07)	6.25

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

2025 Macroaxis LLC