First Trust Correlations

FMB Etf

USD 49.85 0.01 0.02%

The current 90-days correlation between First Trust Managed and SSGA Active Trust is 0.18 (i.e., Average 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.

First Trust Correlation With Market

Average diversification

The correlation between First Trust Managed and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Managed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Managed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with First Etf

0.96	MUB	iShares National Muni	Pair Corr
0.98	VTEB	Vanguard Tax Exempt	Pair Corr
0.97	ITM	VanEck Intermediate Muni	Pair Corr
0.96	DFNM	Dimensional ETF Trust	Pair Corr
0.97	MMIT	IQ MacKay Municipal	Pair Corr
0.95	HMOP	Hartford Municipal	Pair Corr
0.97	TAXF	American Century Div	Pair Corr
0.97	JMUB	JPMorgan Municipal	Pair Corr
0.77	MUST	Columbia Multi Sector	Pair Corr
0.71	DIVY	Tidal ETF Trust	Pair Corr
0.68	WOOD	iShares Global Timber	Pair Corr
0.81	HEFA	iShares Currency Hedged	Pair Corr
0.74	SCHO	Schwab Short Term Sell-off Trend	Pair Corr
0.66	SUSB	iShares ESG 1	Pair Corr
0.86	THMZ	Lazard Equity Megatrends	Pair Corr
0.75	RKLX	Defiance Daily Target	Pair Corr
0.88	PHYL	PGIM Active High	Pair Corr
0.78	ALIL	Argent Focused Small	Pair Corr
0.89	BSCT	Invesco BulletShares 2029	Pair Corr
0.84	HECO	SPDR Galaxy Hedged	Pair Corr
0.7	MFUL	Collaborative Investment	Pair Corr
0.7	DSCF	Discipline Fund ETF	Pair Corr

Moving against First Etf

0.64	WTID	UBS ETRACS	Pair Corr
0.51	ARKC	ARK 21Shares Active Low Volatility	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.95	0.83	0.84	0.71	0.91	0.48	0.92	-0.05	0.46	META
MSFT	0.95		0.89	0.85	0.7	0.89	0.58	0.96	-0.1	0.41	MSFT
UBER	0.83	0.89		0.91	0.64	0.76	0.73	0.89	-0.2	0.34	UBER
F	0.84	0.85	0.91		0.68	0.82	0.6	0.88	0.02	0.52	F
T	0.71	0.7	0.64	0.68		0.73	0.32	0.72	0.28	0.47	T
A	0.91	0.89	0.76	0.82	0.73		0.49	0.9	0.18	0.65	A
CRM	0.48	0.58	0.73	0.6	0.32	0.49		0.57	-0.2	0.16	CRM
JPM	0.92	0.96	0.89	0.88	0.72	0.9	0.57		-0.04	0.51	JPM
MRK	-0.05	-0.1	-0.2	0.02	0.28	0.18	-0.2	-0.04		0.44	MRK
XOM	0.46	0.41	0.34	0.52	0.47	0.65	0.16	0.51	0.44		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.96	MSFT
MSFT	+ 0.95	META
JPM	+ 0.92	META
A	+ 0.91	META
F	+ 0.91	UBER
JPM	+ 0.9	A

High negative correlations

MRK	- 0.2	CRM
MRK	- 0.2	UBER
MRK	- 0.1	MSFT
MRK	- 0.05	META
MRK	- 0.04	JPM

First Trust Competition 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
META	2.03	0.35	0.10	(14.73)	2.34	(2.36)	4.23	(3.68)	21.50
MSFT	1.18	0.34	0.23	0.42	0.95	(1.36)	2.40	(2.36)	13.79
UBER	2.01	0.47	0.16	(2.69)	2.20	(2.41)	5.87	(3.48)	16.18
F	1.71	0.29	0.08	(1.18)	2.23	(1.80)	3.70	(3.74)	13.07
T	1.16	0.00	(0.02)	0.08	1.84	(1.10)	2.36	(2.62)	8.47
A	1.74	(0.01)	0.01	0.07	2.45	(1.74)	2.76	(4.15)	14.46
CRM	1.59	(0.06)	(0.02)	0.03	2.23	(1.58)	3.01	(3.64)	13.13
JPM	1.32	0.16	0.07	0.22	2.07	(1.31)	2.75	(3.09)	11.14
MRK	1.53	(0.12)	0.00	(0.09)	0.00	0.00	3.35	(4.58)	10.58
XOM	1.46	(0.09)	0.00	(0.04)	0.00	0.00	2.77	(3.04)	10.53

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