First Trust Correlations

RDVY Etf

USD 72.68 0.63 0.87%

The current 90-days correlation between First Trust Rising and iShares Russell 3000 is 0.85 (i.e., Very poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust Rising and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Rising and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in First Trust Rising. 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

0.97	VTV	Vanguard Value Index	Pair Corr
0.94	VYM	Vanguard High Dividend	Pair Corr
0.99	IWD	iShares Russell 1000	Pair Corr
0.96	DGRO	iShares Core Dividend	Pair Corr
0.97	IVE	iShares SP 500	Pair Corr
0.98	IUSV	iShares Core SP	Pair Corr
0.98	FNDX	Schwab Fundamental Large	Pair Corr
0.98	VLUE	iShares MSCI USA	Pair Corr
0.7	LENS	Sarmaya Thematic ETF	Pair Corr
0.86	ASA	ASA Gold	Pair Corr
0.95	MAPP	Harbor ETF Trust	Pair Corr
0.72	WNTR	YieldMax MSTR Short	Pair Corr
0.9	SNPD	DBX ETF Trust	Pair Corr
0.95	INOV	Innovator ETFs Trust	Pair Corr
0.96	JEPI	JPMorgan Equity Premium	Pair Corr
0.61	MRK	Merck Company Aggressive Push	Pair Corr
0.61	BA	Boeing	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr

Moving against First Etf

0.4	PRME	Prime Medicine Common	Pair Corr
0.51	T	ATT Inc	Pair Corr
0.42	HPQ	HP Inc	Pair Corr
0.37	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	IWV	IWS	VHT	VHCIX	FNDF	SCHA	DFUS	AVUV	EWJ	DGRW
IWV		0.88	0.52	0.51	0.83	0.88	1.0	0.82	0.85	0.95	IWV
IWS	0.88		0.66	0.66	0.92	0.98	0.87	0.97	0.82	0.9	IWS
VHT	0.52	0.66		1.0	0.77	0.56	0.53	0.68	0.52	0.53	VHT
VHCIX	0.51	0.66	1.0		0.76	0.55	0.52	0.68	0.51	0.53	VHCIX
FNDF	0.83	0.92	0.77	0.76		0.85	0.83	0.9	0.85	0.81	FNDF
SCHA	0.88	0.98	0.56	0.55	0.85		0.87	0.97	0.77	0.89	SCHA
DFUS	1.0	0.87	0.53	0.52	0.83	0.87		0.82	0.85	0.94	DFUS
AVUV	0.82	0.97	0.68	0.68	0.9	0.97	0.82		0.74	0.82	AVUV
EWJ	0.85	0.82	0.52	0.51	0.85	0.77	0.85	0.74		0.82	EWJ
DGRW	0.95	0.9	0.53	0.53	0.81	0.89	0.94	0.82	0.82		DGRW
	IWV	IWS	VHT	VHCIX	FNDF	SCHA	DFUS	AVUV	EWJ	DGRW

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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
IWV	0.55	0.06	(0.02)	0.65	0.68	(0.56)	1.13	(1.13)	3.26
IWS	0.65	0.11	0.03	9.57	0.66	(0.70)	1.30	(1.19)	3.25
VHT	0.60	0.15	0.12	0.84	0.37	(0.71)	1.94	(1.04)	3.83
VHCIX	0.60	0.14	0.11	0.64	0.42	(0.71)	1.96	(1.02)	4.43
FNDF	0.51	0.16	0.12	2.14	0.43	(0.59)	1.19	(1.07)	2.54
SCHA	0.90	0.13	0.04	2.19	0.92	(1.02)	1.71	(1.68)	4.31
DFUS	0.56	0.06	(0.02)	0.65	0.70	(0.57)	1.11	(1.18)	3.25
AVUV	0.80	0.15	0.07	(43.81)	0.76	(0.93)	1.93	(1.53)	4.18
EWJ	0.67	0.14	0.08	0.96	0.65	(0.76)	1.89	(1.48)	3.94
DGRW	0.45	0.05	(0.05)	0.98	0.41	(0.49)	0.87	(0.80)	1.99

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