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.
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

  0.96MUB iShares National MuniPairCorr
  0.98VTEB Vanguard Tax ExemptPairCorr
  0.97ITM VanEck Intermediate MuniPairCorr
  0.96DFNM Dimensional ETF TrustPairCorr
  0.97MMIT IQ MacKay MunicipalPairCorr
  0.95HMOP Hartford MunicipalPairCorr
  0.97TAXF American Century DivPairCorr
  0.97JMUB JPMorgan MunicipalPairCorr
  0.77MUST Columbia Multi SectorPairCorr
  0.71DIVY Tidal ETF TrustPairCorr
  0.68WOOD iShares Global TimberPairCorr
  0.81HEFA iShares Currency HedgedPairCorr
  0.74SCHO Schwab Short Term Sell-off TrendPairCorr
  0.66SUSB iShares ESG 1PairCorr
  0.86THMZ Lazard Equity MegatrendsPairCorr
  0.75RKLX Defiance Daily TargetPairCorr
  0.88PHYL PGIM Active HighPairCorr
  0.78ALIL Argent Focused SmallPairCorr
  0.89BSCT Invesco BulletShares 2029PairCorr
  0.84HECO SPDR Galaxy HedgedPairCorr
  0.7MFUL Collaborative InvestmentPairCorr
  0.7DSCF Discipline Fund ETFPairCorr

Moving against First Etf

  0.64WTID UBS ETRACSPairCorr
  0.51ARKC ARK 21Shares Active Low VolatilityPairCorr

Related Correlations Analysis

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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   
JPMMSFT
MSFTMETA
JPMMETA
AMETA
FUBER
JPMA
  
High negative correlations   
MRKCRM
MRKUBER
MRKMSFT
MRKMETA
MRKJPM

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  2.03  0.35  0.10 (14.73) 2.34 
 4.23 
 21.50 
MSFT  1.18  0.34  0.23  0.42  0.95 
 2.40 
 13.79 
UBER  2.01  0.47  0.16 (2.69) 2.20 
 5.87 
 16.18 
F  1.71  0.29  0.08 (1.18) 2.23 
 3.70 
 13.07 
T  1.16  0.00 (0.02) 0.08  1.84 
 2.36 
 8.47 
A  1.74 (0.01) 0.01  0.07  2.45 
 2.76 
 14.46 
CRM  1.59 (0.06)(0.02) 0.03  2.23 
 3.01 
 13.13 
JPM  1.32  0.16  0.07  0.22  2.07 
 2.75 
 11.14 
MRK  1.53 (0.12) 0.00 (0.09) 0.00 
 3.35 
 10.58 
XOM  1.46 (0.09) 0.00 (0.04) 0.00 
 2.77 
 10.53