First Trust Correlations

Etfs . USA . 
Etf . First Trust Bloomberg
EMDM Etf   25.17  0.11  0.44%   
The current 90-days correlation between First Trust Bloomberg and Vanguard FTSE Emerging is 0.82 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Bloomberg moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Bloomberg and DJI is 0.43 (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 Bloomberg and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Bloomberg. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Etf

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Moving against First Etf

  0.41VZ Verizon Communications Earnings Call TomorrowPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VWO  0.56  0.17  0.13  0.51  0.35 
(0.64)
 1.57 
(1.18)
 4.17 
IEMG  0.58  0.19  0.16  0.55  0.33 
(0.67)
 1.50 
(1.28)
 4.51 
EMC  0.66  0.15  0.13  0.40  0.40 
(0.78)
 2.20 
(1.30)
 4.76 
EEM  0.57  0.18  0.15  0.53  0.33 
(0.71)
 1.49 
(1.23)
 4.44 
SPEM  0.57  0.15  0.10  0.44  0.43 
(0.68)
 1.70 
(1.20)
 4.16 
FNDE  0.55  0.15  0.12  0.48  0.35 
(0.68)
 1.58 
(1.10)
 3.92 
ESGE  0.59  0.20  0.17  0.55  0.37 
(0.70)
 1.57 
(1.36)
 4.61 
SFGRX  0.40  0.18  0.11  0.80  0.15 
(0.50)
 1.12 
(0.69)
 3.24 
DGS  0.56  0.22  0.19  0.68  0.32 
(0.66)
 1.27 
(1.18)
 4.92 
XSOE  0.59  0.19  0.16  0.55  0.33 
(0.70)
 1.42 
(1.24)
 4.79 

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