First Trust Correlations

FVD Etf

USD 46.78 0.01 0.02%

The current 90-days correlation between First Trust Value and SPDR Bloomberg High is 0.54 (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

Poor diversification

The correlation between First Trust Value and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Value 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 Value. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with First Etf

0.89	VOE	Vanguard Mid Cap	Pair Corr
0.94	SDY	SPDR SP Dividend	Pair Corr
0.94	DVY	iShares Select Dividend	Pair Corr
0.86	IWS	iShares Russell Mid	Pair Corr
0.92	SPYD	SPDR Portfolio SP	Pair Corr
0.81	COWZ	Pacer Cash Cows	Pair Corr
0.87	IJJ	iShares SP Mid	Pair Corr
0.91	DON	WisdomTree MidCap	Pair Corr
0.79	RPV	Invesco SP 500	Pair Corr
0.66	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.83	DGP	DB Gold Double	Pair Corr
0.8	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.88	RSSE	First Trust Exchange	Pair Corr
0.8	FGD	First Trust Dow	Pair Corr
0.77	MBB	iShares MBS ETF	Pair Corr
0.82	JEPI	JPMorgan Equity Premium	Pair Corr
0.81	DJD	Invesco Dow Jones	Pair Corr
0.79	INOV	Innovator ETFs Trust	Pair Corr

Related Correlations Analysis

	FNDA	IGF	PRF	VLUE	BBCA	AVLV	JNK	USO	JIRE	FTCS
FNDA		0.66	0.9	0.9	0.89	0.94	0.86	-0.31	0.89	0.74	FNDA
IGF	0.66		0.68	0.67	0.71	0.7	0.7	-0.23	0.73	0.56	IGF
PRF	0.9	0.68		0.95	0.9	0.95	0.97	-0.31	0.87	0.65	PRF
VLUE	0.9	0.67	0.95		0.93	0.99	0.91	-0.3	0.92	0.54	VLUE
BBCA	0.89	0.71	0.9	0.93		0.95	0.9	-0.41	0.89	0.63	BBCA
AVLV	0.94	0.7	0.95	0.99	0.95		0.92	-0.32	0.93	0.62	AVLV
JNK	0.86	0.7	0.97	0.91	0.9	0.92		-0.36	0.84	0.65	JNK
USO	-0.31	-0.23	-0.31	-0.3	-0.41	-0.32	-0.36		-0.31	-0.34	USO
JIRE	0.89	0.73	0.87	0.92	0.89	0.93	0.84	-0.31		0.7	JIRE
FTCS	0.74	0.56	0.65	0.54	0.63	0.62	0.65	-0.34	0.7		FTCS
	FNDA	IGF	PRF	VLUE	BBCA	AVLV	JNK	USO	JIRE	FTCS

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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

AVLV	+ 0.99	VLUE
JNK	+ 0.97	PRF
VLUE	+ 0.95	PRF
AVLV	+ 0.95	PRF
AVLV	+ 0.95	BBCA
AVLV	+ 0.94	FNDA

High negative correlations

USO	- 0.41	BBCA
USO	- 0.36	JNK
FTCS	- 0.34	USO
USO	- 0.32	AVLV
JIRE	- 0.31	USO
USO	- 0.31	PRF

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
FNDA	0.85	0.09	0.02	0.41	1.04	(0.88)	1.75	(1.38)	4.34
IGF	0.46	0.01	(0.12)	0.16	0.50	(0.48)	0.90	(0.77)	1.84
PRF	0.59	0.02	0.01	0.11	0.61	(0.64)	1.25	(1.08)	2.50
VLUE	0.83	0.20	0.11	2.15	0.87	(0.92)	1.84	(1.72)	3.95
BBCA	0.66	0.09	0.02	0.55	0.77	(0.65)	1.33	(1.26)	3.32
AVLV	0.69	0.12	0.06	0.82	0.77	(0.74)	1.55	(1.36)	3.22
JNK	0.16	0.00	(0.29)	0.10	0.09	(0.17)	0.35	(0.31)	1.05
USO	1.29	(0.09)	0.00	(0.09)	0.00	0.00	2.74	(2.45)	7.80
JIRE	0.58	0.07	0.01	0.45	0.64	(0.59)	1.14	(1.19)	2.55
FTCS	0.52	(0.03)	(0.11)	0.03	0.57	(0.57)	1.10	(0.81)	2.63

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