First Trust Total Risk Alpha
| LEGR Etf | | | USD 57.53 -0.21 -0.36% |
The Total Risk Alpha reading for First Trust Indxx is computed from historical trading observations. Broader indicator relationships are reflected within
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Correlation Analysis to understand diversified portfolio construction. All values are based on available data and provided as reference information. Tracking First Trust Indxx in a portfolio provides context for performance attribution. Position sizing depends on the allocation methodology selected for the portfolio. Broader economic conditions can influence First Trust Indxx's etf valuation — related indicators include
signals in census.
First Trust Indxx has current Total Risk Alpha of 0.0665. The total risk alpha measures the performance of an asset by comparing its returns with those of a selected benchmark portfolio.
Total Risk Alpha | = | RFR + (ER[b] - ER[a]) | x | STD[a] / STD[b] |
| = | 0.0665 | |
| ER[a] | = | Expected return on investing in First Trust |
| ER[b] | = | Expected return on market index or selected benchmark |
| STD[a] | = | Standard Deviation of returns on First Trust |
| STD[b] | = | Standard Deviation of selected market or benchmark |
| RFR | = | Risk Free Rate of return. Typically T-Bill Rate |
Total Risk Alpha Peers Comparison
Total Risk Alpha Relative To Other Indicators
First Trust Indxx is rated
below average for total risk alpha among related ETFs. It is currently under evaluation for maximum drawdown among related ETFs with Maximum Drawdown measuring nearly
65.70 against Total Risk Alpha. Maximum Drawdown runs about
65.70 times Total Risk Alpha for First Trust Indxx
The benchmark portfolio represents the market risk matched to the total risk of the stock ETF or fund.
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