First Trust Correlations

RNSC Etf

USD 29.30 0.00 0.00%

The current 90-days correlation between First Trust Small and VictoryShares is -0.2 (i.e., Good diversification).The statistical correlation between First Trust and related instruments captures the linear component of their co-movement; nonlinear tail dependence may require additional analysis.

First Trust Market Correlation

Very weak diversification

Across the chosen horizon, RNSC and DJI show a correlation of 0.5 and fall into the Very weak diversification bucket. The cleaner interpretation is to review correlation beside volatility, expected return, and the role each holding plays in the portfolio.

Build AI portfolio with First Etf

Your Equity Center provides context for diversified portfolio construction. Such insight adds context to allocation decisions within a diversified portfolio. This reflects a position in First Trust Small inside the allocation mix. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.74

DIS

Walt Disney

Pair Corr

Moving against First Etf

0.8	VXZ	iPath Series B	Pair Corr
0.79	VIXM	ProShares VIX Mid	Pair Corr
0.72	VXX	iPath Series B	Pair Corr
0.72	VIXY	ProShares VIX Short	Pair Corr
0.46	SHV	iShares Trust	Pair Corr
0.41	VRIG	Invesco Variable Rate	Pair Corr
0.71	VZ	Verizon Communications Aggressive Push	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.55	STPZ	PIMCO 1 5	Pair Corr
0.54	KO	Coca Cola	Pair Corr
0.48	CVX	Chevron Corp	Pair Corr
0.47	PFE	Pfizer Inc	Pair Corr
0.47	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.43	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.41	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	KNGZ	SHRY	RNMC	EMCS	DWEQ	CIZ	SDEF	FLEU	SDEI	CSF
KNGZ		0.84	0.89	0.87	0.0	0.0	0.0	0.87	0.0	-0.1	KNGZ
SHRY	0.84		0.74	0.86	0.0	0.0	0.0	0.66	0.0	0.09	SHRY
RNMC	0.89	0.74		0.75	0.0	0.0	0.0	0.82	0.0	-0.16	RNMC
EMCS	0.87	0.86	0.75		0.0	0.0	0.0	0.88	0.0	0.05	EMCS
DWEQ	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	DWEQ
CIZ	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CIZ
SDEF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SDEF
FLEU	0.87	0.66	0.82	0.88	0.0	0.0	0.0		0.0	-0.12	FLEU
SDEI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SDEI
CSF	-0.1	0.09	-0.16	0.05	0.0	0.0	0.0	-0.12	0.0		CSF
	KNGZ	SHRY	RNMC	EMCS	DWEQ	CIZ	SDEF	FLEU	SDEI	CSF

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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

RNMC	+ 0.89	KNGZ
FLEU	+ 0.88	EMCS
EMCS	+ 0.87	KNGZ
FLEU	+ 0.87	KNGZ
EMCS	+ 0.86	SHRY
SHRY	+ 0.84	KNGZ

High negative correlations

CSF	- 0.16	RNMC
CSF	- 0.12	FLEU
CSF	- 0.1	KNGZ
CSF	- 0.0	SDEI
SDEI	- 0.0	FLEU
CSF	- 0.0	SDEF

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. A thorough review of First Trust's risk-adjusted indicators provides a clearer picture of whether returns are being earned efficiently. 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
KNGZ	0.66	0.04	0.05	0.00	0.83	-0.66	1.58	-1.50	3.97
SHRY	0.57	0.09	0.17	0.10	0.55	-0.62	1.30	-0.96	3.12
RNMC	0.55	0.03	0.06	0.00	0.65	-0.60	1.35	-1.14	3.01
EMCS	1.05	0.15	0.08	0.08	1.53	-1.05	2.35	-2.25	8.58
DWEQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CIZ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SDEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FLEU	0.77	0.02	0.00	-0.03	0.00	0.00	1.38	-1.75	5.53
SDEI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CSF	6,422	3,521	55.41	-2.49	0.00	-12,510	34,233	-99.61	55,035

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