First Trust Correlations

FTSL Etf

USD 45.91 0.02 0.04%

The current 90-days correlation between First Trust Senior and BondBloxx ETF Trust is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Senior moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust Senior and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Senior 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 Senior. 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

0.97	SRLN	SPDR Blackstone Senior	Pair Corr
0.97	FLBL	Franklin Liberty Senior	Pair Corr
0.97	SEIX	Virtus ETF Trust	Pair Corr
0.91	JBBB	Janus Detroit Street	Pair Corr
0.96	FLRT	Pacer Pacific Asset	Pair Corr
0.9	PFRL	PGIM ETF Trust	Pair Corr
0.93	ARKW	ARK Next Generation	Pair Corr
0.95	WTMF	WisdomTree Managed	Pair Corr
0.96	EWC	iShares MSCI Canada	Pair Corr
0.95	BST	BlackRock Science Tech	Pair Corr
0.73	IRET	iREIT MarketVector	Pair Corr
0.9	WCLD	WisdomTree Cloud Com	Pair Corr
0.95	DALI	First Trust Dorsey	Pair Corr
0.95	CPSR	Calamos ETF Trust	Pair Corr
0.72	GOAU	US Global GO	Pair Corr
0.93	AXP	American Express	Pair Corr
0.8	TRV	The Travelers Companies	Pair Corr
0.78	MMM	3M Company	Pair Corr
0.94	JPM	JPMorgan Chase	Pair Corr
0.91	CSCO	Cisco Systems	Pair Corr
0.9	IBM	International Business	Pair Corr
0.66	PFE	Pfizer Inc	Pair Corr
0.93	DIS	Walt Disney	Pair Corr
0.95	GE	GE Aerospace	Pair Corr

Moving against First Etf

0.81	HUM	Humana Inc	Pair Corr
0.32	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.95	0.81	0.84	0.59	0.85	0.51	0.94	-0.18	0.23	META
MSFT	0.95		0.9	0.88	0.56	0.7	0.52	0.95	-0.37	0.04	MSFT
UBER	0.81	0.9		0.92	0.48	0.58	0.73	0.9	-0.42	-0.01	UBER
F	0.84	0.88	0.92		0.58	0.75	0.71	0.91	-0.21	0.28	F
T	0.59	0.56	0.48	0.58		0.67	0.31	0.61	0.24	0.4	T
A	0.85	0.7	0.58	0.75	0.67		0.51	0.78	0.25	0.62	A
CRM	0.51	0.52	0.73	0.71	0.31	0.51		0.58	-0.1	0.18	CRM
JPM	0.94	0.95	0.9	0.91	0.61	0.78	0.58		-0.25	0.23	JPM
MRK	-0.18	-0.37	-0.42	-0.21	0.24	0.25	-0.1	-0.25		0.64	MRK
XOM	0.23	0.04	-0.01	0.28	0.4	0.62	0.18	0.23	0.64		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

MSFT	+ 0.95	META
JPM	+ 0.95	MSFT
JPM	+ 0.94	META
F	+ 0.92	UBER
JPM	+ 0.91	F
UBER	+ 0.9	MSFT

High negative correlations

MRK	- 0.42	UBER
MRK	- 0.37	MSFT
MRK	- 0.25	JPM
MRK	- 0.21	F
MRK	- 0.18	META
MRK	- 0.1	CRM

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
META	2.08	0.23	0.10	0.20	2.42	(2.39)	4.23	(4.29)	21.50
MSFT	1.21	0.32	0.20	0.38	1.08	(1.34)	2.40	(2.36)	13.79
UBER	1.98	0.30	0.13	0.28	2.26	(2.23)	5.87	(3.48)	16.18
F	1.72	0.06	0.02	0.13	2.30	(1.75)	2.90	(3.84)	13.07
T	1.17	0.07	0.01	0.28	1.83	(1.14)	2.36	(2.62)	8.83
A	1.76	(0.08)	(0.02)	0.00	2.51	(1.77)	2.76	(4.15)	14.45
CRM	1.60	(0.10)	0.00	(0.02)	0.00	0.00	3.01	(3.64)	13.13
JPM	1.30	0.17	0.08	0.22	2.02	(1.32)	2.75	(2.12)	11.14
MRK	1.54	(0.18)	0.00	(0.19)	0.00	0.00	2.55	(4.58)	10.58
XOM	1.38	(0.16)	0.00	(0.16)	0.00	0.00	2.62	(3.04)	10.53

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