First Trust Correlations

FTLS Etf

USD 70.94 0.26 0.37%

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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Good diversification

The correlation between First Trust LongShort and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust LongShort 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 LongShort. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with First Etf

0.95	CLSE	Trust For Professional	Pair Corr
0.83	CLIX	ProShares Long Onlin	Pair Corr
0.62	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.9	ZSEP	Innovator Equity Defined	Pair Corr
0.84	SHV	iShares Short Treasury	Pair Corr
0.75	AIBU	Direxion Shares ETF	Pair Corr
0.87	XSEP	FT Cboe Vest	Pair Corr
0.69	MDBX	MDBX	Pair Corr
0.84	IVW	iShares SP 500	Pair Corr
0.83	XCEM	Columbia EM Core	Pair Corr
0.63	WOMN	Impact Shares YWCA	Pair Corr
0.86	DFAI	Dimensional International	Pair Corr
0.62	CQQQ	Invesco China Technology	Pair Corr
0.79	TSMX	Direxion Daily TSM	Pair Corr
0.75	BAI	BlackRock ETF Trust	Pair Corr
0.83	AVMU	Avantis Core Municipal	Pair Corr
0.77	MAVF	EA Series Trust	Pair Corr
0.86	HAP	VanEck Natural Resources	Pair Corr
0.64	GLD	SPDR Gold Shares Aggressive Push	Pair Corr
0.86	QGRD	Horizon Nasdaq 100	Pair Corr
0.78	CRTC	Xtrackers National	Pair Corr
0.84	ICLN	iShares Global Clean	Pair Corr
0.83	VGT	Vanguard Information	Pair Corr
0.92	SMOG	VanEck Low Carbon	Pair Corr
0.85	THRO	iShares Thematic Rotation	Pair Corr
0.84	PJAN	Innovator SP 500	Pair Corr
0.8	RSMV	Listed Funds Trust	Pair Corr

Moving against First Etf

0.74	LBAY	Tidal ETF Trust	Pair Corr
0.53	VIXY	ProShares VIX Short	Pair Corr

Related Correlations Analysis

	FUTY	JMEE	APUE	ESML	TSPA	QDF	DCOR	EWG	TNA	BDYN
FUTY		0.2	0.7	0.55	0.71	0.67	0.63	-0.05	0.67	0.0	FUTY
JMEE	0.2		0.66	0.66	0.36	0.7	0.75	-0.38	0.56	0.0	JMEE
APUE	0.7	0.66		0.72	0.89	0.99	0.99	-0.41	0.74	0.0	APUE
ESML	0.55	0.66	0.72		0.66	0.73	0.74	-0.24	0.94	0.0	ESML
TSPA	0.71	0.36	0.89	0.66		0.86	0.84	-0.28	0.76	0.0	TSPA
QDF	0.67	0.7	0.99	0.73	0.86		0.99	-0.36	0.74	0.0	QDF
DCOR	0.63	0.75	0.99	0.74	0.84	0.99		-0.42	0.73	0.0	DCOR
EWG	-0.05	-0.38	-0.41	-0.24	-0.28	-0.36	-0.42		-0.15	0.0	EWG
TNA	0.67	0.56	0.74	0.94	0.76	0.74	0.73	-0.15		0.0	TNA
BDYN	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		BDYN
	FUTY	JMEE	APUE	ESML	TSPA	QDF	DCOR	EWG	TNA	BDYN

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

QDF	+ 0.99	APUE
DCOR	+ 0.99	APUE
DCOR	+ 0.99	QDF
TNA	+ 0.94	ESML
TSPA	+ 0.89	APUE
QDF	+ 0.86	TSPA

High negative correlations

EWG	- 0.42	DCOR
EWG	- 0.41	APUE
EWG	- 0.38	JMEE
EWG	- 0.36	QDF
EWG	- 0.28	TSPA
EWG	- 0.24	ESML

First Trust Constituents 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
FUTY	0.58	0.03	(0.01)	0.13	0.66	(0.61)	1.32	(1.18)	3.36
JMEE	0.73	0.05	(0.03)	(0.11)	0.89	(0.78)	1.77	(1.19)	5.93
APUE	0.52	0.00	0.00	0.07	0.72	(0.50)	1.08	(1.04)	4.59
ESML	0.77	(0.05)	(0.03)	0.03	0.99	(0.80)	1.75	(1.53)	6.39
TSPA	0.51	0.07	(0.01)	(0.55)	0.74	(0.50)	1.20	(1.11)	4.25
QDF	0.49	(0.01)	(0.02)	0.06	0.59	(0.52)	1.12	(0.84)	4.15
DCOR	0.52	(0.02)	(0.02)	0.05	0.73	(0.52)	1.09	(1.01)	4.60
EWG	0.60	(0.12)	0.00	(0.09)	0.00	0.00	1.19	(1.27)	3.38
TNA	2.69	(0.11)	0.03	0.04	3.50	(2.72)	5.79	(5.36)	20.69
BDYN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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