First Trust Correlations

FSGS Etf

28.89 -0.46 -1.57%

The current 90-days correlation between First Trust SMID and Tidal ETF Trust is 0.58 (i.e., Very weak diversification).Correlation analysis for First Trust quantifies the degree to which its price movements mirror or diverge from those of related assets. A coefficient near +1 signals strong co-movement, while a coefficient near -1 indicates consistent opposite movement.

Market Correlation - First Trust

Poor diversification

FSGS currently posts a 0.69 correlation with DJI, indicating a Poor diversification relationship for the active sample. This matters because lower overlap can improve diversification, while higher overlap leaves more of the same risk inside the portfolio.

Build portfolio with First Etf

Use Investing Opportunities to explore diversified allocation structure. Understanding allocation structure supports portfolio context. The overall portfolio profile is shaped by the distribution of its holdings. This includes a position in First Trust SMID. The position sits inside the allocation mix. Portfolio construction methods define how positions are sized. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with First Etf

0.75	BULZ	MicroSectors Solactive	Pair Corr
0.61	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.7	GGLL	Direxion Daily GOOGL	Pair Corr
0.73	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.65	BA	Boeing	Pair Corr
0.65	MSFT	Microsoft	Pair Corr
0.8	DIS	Walt Disney	Pair Corr

Moving against First Etf

0.77	NRGU	Bank of Montreal	Pair Corr
0.79	TILL	Listed Funds Trust	Pair Corr
0.75	VZ	Verizon Communications	Pair Corr
0.72	T	ATT Inc	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.67	HGER	Harbor All Weather	Pair Corr
0.54	PFE	Pfizer Inc	Pair Corr
0.54	KO	Coca Cola	Pair Corr
0.5	MCD	McDonalds	Pair Corr
0.41	CAT	Caterpillar	Pair Corr
0.41	WMT	Walmart Common Stock	Pair Corr
0.32	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FTXR	WBIF	SAA	ROMO	NUDV	EMM	JFLI	IEDI	UYM	DIVY
FTXR		0.6	0.91	0.91	0.75	0.67	0.75	0.76	0.76	0.81	FTXR
WBIF	0.6		0.73	0.73	0.92	0.86	0.87	0.49	0.89	0.87	WBIF
SAA	0.91	0.73		0.89	0.81	0.74	0.84	0.87	0.84	0.83	SAA
ROMO	0.91	0.73	0.89		0.85	0.87	0.93	0.73	0.89	0.88	ROMO
NUDV	0.75	0.92	0.81	0.85		0.94	0.9	0.53	0.97	0.98	NUDV
EMM	0.67	0.86	0.74	0.87	0.94		0.95	0.49	0.96	0.92	EMM
JFLI	0.75	0.87	0.84	0.93	0.9	0.95		0.67	0.93	0.89	JFLI
IEDI	0.76	0.49	0.87	0.73	0.53	0.49	0.67		0.61	0.55	IEDI
UYM	0.76	0.89	0.84	0.89	0.97	0.96	0.93	0.61		0.96	UYM
DIVY	0.81	0.87	0.83	0.88	0.98	0.92	0.89	0.55	0.96		DIVY
	FTXR	WBIF	SAA	ROMO	NUDV	EMM	JFLI	IEDI	UYM	DIVY

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First Trust Constituents Risk-Adjusted Indicators

First Trust ETF may look attractive on headline returns alone, but deeper analysis often tells a different story. A thorough review of First Trust's risk-adjusted indicators provides a clearer picture of whether returns are being earned efficiently. 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
FTXR	1.14	0.04	0.00	-0.07	0.00	0.00	2.03	-2.74	6.35
WBIF	0.51	0.05	0.00	-0.02	0.00	0.00	1.19	-0.99	4.19
SAA	1.65	0.15	0.00	-0.03	0.00	0.00	2.94	-3.74	11.19
ROMO	0.71	0.03	0.00	-0.06	0.00	0.00	1.32	-1.72	5.14
NUDV	0.50	0.08	0.14	0.01	0.66	-0.54	1.08	-1.28	3.46
EMM	1.12	0.23	0.11	0.08	1.63	-1.06	2.25	-2.18	8.23
JFLI	0.46	0.05	0.00	-0.02	0.00	0.00	0.75	-1.11	3.11
IEDI	0.63	-0.01	0.00	-0.11	0.00	0.00	1.41	-1.30	3.98
UYM	1.71	0.31	0.08	0.06	2.30	-1.61	4.06	-4.09	10.17
DIVY	0.63	0.08	0.11	0.00	0.85	-0.62	1.40	-1.44	3.78

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First Trust Correlations

Market Correlation - First Trust

Moving together with First Etf

Moving against First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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