First Trust Correlations

RFEU Etf

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The current 90-days correlation between First Trust RiverFront and SPDR Dow Jones is 0.01 (i.e., Significant 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

Very weak diversification

The correlation between First Trust RiverFront and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust RiverFront 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. 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

0.79	VGK	Vanguard FTSE Europe	Pair Corr
0.74	EZU	iShares MSCI Eurozone	Pair Corr
0.8	BBEU	JPMorgan BetaBuilders	Pair Corr
0.8	IEUR	iShares Core MSCI	Pair Corr
0.69	FEZ	SPDR EURO STOXX	Pair Corr
0.79	IEV	iShares Europe ETF	Pair Corr
0.72	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.82	DBEU	Xtrackers MSCI Europe	Pair Corr
0.75	HEZU	iShares Currency Hedged	Pair Corr
0.77	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.77	PPA	Invesco Aerospace Defense	Pair Corr
0.82	TSEP	TSEP	Pair Corr
0.93	KXI	iShares Global Consumer	Pair Corr
0.86	IDEV	iShares Core MSCI	Pair Corr
0.87	DIVO	Amplify CWP Enhanced	Pair Corr
0.87	DRN	Direxion Daily Real	Pair Corr
0.92	MEAR	iShares Short Maturity	Pair Corr
0.87	TFPN	Blueprint Chesapeake	Pair Corr
0.68	EPOL	iShares MSCI Poland	Pair Corr
0.84	QAI	IQ Hedge Multi	Pair Corr
0.8	CPRJ	Calamos ETF Trust	Pair Corr
0.89	CIL	VictoryShares International	Pair Corr
0.84	IJR	iShares Core SP	Pair Corr
0.86	AGG	iShares Core Aggregate	Pair Corr
0.9	JFLX	JP Morgan Exchange	Pair Corr
0.87	MNA	IQ Merger Arbitrage	Pair Corr
0.89	INDS	Pacer Benchmark Indu	Pair Corr
0.85	HSCZ	iShares Currency Hedged	Pair Corr
0.89	EXI	iShares Global Indus	Pair Corr
0.95	KROP	Global X AgTech	Pair Corr
0.82	BCD	abrdn Bloomberg All	Pair Corr

Related Correlations Analysis

	VEUSX	DGRO	VGHAX	VOE	SPDW	XLV	VMGIX	VOT	DFAC	DIA
VEUSX		0.93	0.76	0.93	0.98	0.64	-0.56	-0.55	0.95	0.87	VEUSX
DGRO	0.93		0.64	0.99	0.97	0.59	-0.69	-0.69	0.91	0.81	DGRO
VGHAX	0.76	0.64		0.66	0.71	0.93	-0.15	-0.15	0.75	0.75	VGHAX
VOE	0.93	0.99	0.66		0.98	0.61	-0.64	-0.64	0.91	0.79	VOE
SPDW	0.98	0.97	0.71	0.98		0.62	-0.62	-0.61	0.93	0.81	SPDW
XLV	0.64	0.59	0.93	0.61	0.62		-0.15	-0.15	0.63	0.64	XLV
VMGIX	-0.56	-0.69	-0.15	-0.64	-0.62	-0.15		1.0	-0.41	-0.33	VMGIX
VOT	-0.55	-0.69	-0.15	-0.64	-0.61	-0.15	1.0		-0.4	-0.32	VOT
DFAC	0.95	0.91	0.75	0.91	0.93	0.63	-0.41	-0.4		0.92	DFAC
DIA	0.87	0.81	0.75	0.79	0.81	0.64	-0.33	-0.32	0.92		DIA
	VEUSX	DGRO	VGHAX	VOE	SPDW	XLV	VMGIX	VOT	DFAC	DIA

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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

VOT	+ 1.0	VMGIX
VOE	+ 0.99	DGRO
SPDW	+ 0.98	VEUSX
SPDW	+ 0.98	VOE
SPDW	+ 0.97	DGRO
DFAC	+ 0.95	VEUSX

High negative correlations

VOT	- 0.69	DGRO
VMGIX	- 0.69	DGRO
VOT	- 0.64	VOE
VMGIX	- 0.64	VOE
VMGIX	- 0.62	SPDW
VOT	- 0.61	SPDW

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
VEUSX	0.64	0.07	0.07	0.11	0.86	(0.65)	1.28	(1.59)	4.68
DGRO	0.44	0.05	0.08	0.08	0.50	(0.48)	0.95	(0.99)	2.79
VGHAX	0.68	(0.01)	0.00	(0.02)	0.00	0.00	1.56	(1.37)	4.13
VOE	0.56	0.10	0.13	0.13	0.56	(0.59)	1.24	(1.20)	3.67
SPDW	0.64	0.12	0.10	0.15	0.96	(0.63)	1.22	(1.39)	5.65
XLV	0.70	(0.04)	0.00	(0.07)	0.00	0.00	1.77	(1.30)	3.64
VMGIX	0.74	(0.04)	0.00	(0.04)	0.00	0.00	1.40	(1.89)	5.07
VOT	0.73	(0.04)	0.00	(0.04)	0.00	0.00	1.39	(1.87)	4.87
DFAC	0.52	0.03	0.04	0.04	0.66	(0.53)	0.90	(1.10)	3.78
DIA	0.58	0.01	0.01	0.01	0.74	(0.55)	1.22	(1.33)	4.11

First Trust Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with First Trust etf to make a market-neutral strategy. Peer analysis of First Trust could also be used in its relative valuation, which is a method of valuing First Trust by comparing valuation metrics with similar companies.

Vanguard European Stock iShares Core Dividend Vanguard Health Care Vanguard Mid Cap Value SPDR SP World Health Care Select Vanguard Mid Cap Growth Vanguard Mid Cap Growth Dimensional Core Equity SPDR Dow Jones American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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