First Trust Correlations

FTSM Etf

USD 60.10 0.01 0.02%

The current 90-days correlation between First Trust Enhanced and First Trust Low is -0.11 (i.e., Good 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 Enhanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Modest diversification

The correlation between First Trust Enhanced and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Enhanced 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 Enhanced. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with First Etf

1.0	BIL	SPDR Bloomberg 1	Pair Corr
1.0	SHV	iShares Short Treasury	Pair Corr
1.0	JPST	JPMorgan Ultra Short	Pair Corr
0.99	USFR	WisdomTree Floating Rate	Pair Corr
1.0	ICSH	iShares Ultra Short	Pair Corr
1.0	SGOV	iShares 0 3	Pair Corr
1.0	GBIL	Goldman Sachs Access	Pair Corr
0.99	TFLO	iShares Treasury Floating	Pair Corr
0.99	FLRN	SPDR Bloomberg Investment	Pair Corr
0.69	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.95	USD	ProShares Ultra Semi	Pair Corr
0.91	TECL	Direxion Daily Technology	Pair Corr
0.92	ROM	ProShares Ultra Tech	Pair Corr
0.94	QLD	ProShares Ultra QQQ	Pair Corr
0.91	SMH	VanEck Semiconductor ETF	Pair Corr
0.85	SOXX	iShares Semiconductor ETF	Pair Corr
0.95	SPXL	Direxion Daily SP500	Pair Corr
0.95	UPRO	ProShares UltraPro SP500	Pair Corr
0.78	BA	Boeing	Pair Corr
0.72	PFE	Pfizer Inc	Pair Corr
0.74	BAC	Bank of America Aggressive Push	Pair Corr
0.64	MMM	3M Company Sell-off Trend	Pair Corr
0.89	MSFT	Microsoft	Pair Corr
0.86	GE	GE Aerospace	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.71	DD	Dupont De Nemours	Pair Corr
0.87	JPM	JPMorgan Chase	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.91	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.87	0.55	0.67	0.59	0.41	-0.73	0.73	0.56	0.26	META
MSFT	0.87		0.54	0.7	0.31	0.33	-0.61	0.89	0.59	0.37	MSFT
UBER	0.55	0.54		0.86	0.46	0.57	-0.22	0.69	0.7	0.43	UBER
F	0.67	0.7	0.86		0.48	0.61	-0.44	0.82	0.84	0.58	F
T	0.59	0.31	0.46	0.48		0.44	-0.49	0.38	0.56	0.09	T
A	0.41	0.33	0.57	0.61	0.44		0.0	0.49	0.73	0.64	A
CRM	-0.73	-0.61	-0.22	-0.44	-0.49	0.0		-0.4	-0.38	-0.01	CRM
JPM	0.73	0.89	0.69	0.82	0.38	0.49	-0.4		0.72	0.5	JPM
MRK	0.56	0.59	0.7	0.84	0.56	0.73	-0.38	0.72		0.63	MRK
XOM	0.26	0.37	0.43	0.58	0.09	0.64	-0.01	0.5	0.63		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	+ 0.89	MSFT
MSFT	+ 0.87	META
F	+ 0.86	UBER
MRK	+ 0.84	F
JPM	+ 0.82	F
JPM	+ 0.73	META

High negative correlations

CRM	- 0.73	META
CRM	- 0.61	MSFT
CRM	- 0.49	T
CRM	- 0.44	F
JPM	- 0.4	CRM
MRK	- 0.38	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	1.38	0.16	0.11	0.32	1.10	(1.70)	3.16	(2.27)	14.28
MSFT	0.71	0.12	0.06	0.40	0.57	(0.83)	1.80	(1.42)	5.71
UBER	1.39	0.05	0.00	0.21	1.57	(1.49)	2.72	(2.02)	11.37
F	1.26	0.09	0.06	0.21	1.46	(1.27)	2.55	(2.36)	7.46
T	0.76	0.09	(0.03)	1.17	0.93	(0.78)	1.75	(1.96)	5.41
A	1.37	(0.07)	0.01	0.09	1.63	(1.44)	2.82	(2.46)	9.19
CRM	1.23	(0.29)	0.00	(0.10)	0.00	0.00	2.63	(3.19)	6.27
JPM	0.82	0.08	0.08	0.21	0.84	(0.92)	1.78	(1.36)	5.19
MRK	1.16	0.02	0.00	0.15	1.45	(1.12)	2.90	(2.36)	7.79
XOM	0.99	0.14	0.01	1.55	1.24	(1.01)	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