First Trust Correlations

Etfs . USA . 
Etf . First Trust Ultra
FUMB Etf  USD 20.15  0.01  0.05%   
The current 90-days correlation between First Trust Ultra and First Trust Short is 0.19 (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

Good diversification

The correlation between First Trust Ultra and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Ultra 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 Ultra. 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

  0.99SUB iShares Short TermPairCorr
  0.99SHM SPDR Nuveen BloombergPairCorr
  0.99JMST JPMorgan Ultra ShortPairCorr
  0.99MEAR iShares Short MaturityPairCorr
  0.98FSMB First Trust ShortPairCorr
  0.98SMB VanEck Short MuniPairCorr
  0.74PVI Invesco VRDO TaxPairCorr
  0.99TAFI Ab Tax AwarePairCorr
  0.7AMPD Tidal ETF ServicesPairCorr
  0.73PMBS PIMCO Mortgage BackedPairCorr
  0.96ITDD iShares TrustPairCorr
  0.96BUFD FT Cboe VestPairCorr
  0.98CVSB Morgan Stanley EtfPairCorr
  0.98CPSD Calamos ETF TrustPairCorr
  0.76EUSB iShares TrustPairCorr
  0.93DFAS Dimensional Small CapPairCorr
  0.97DFEV Dimensional ETF TrustPairCorr
  0.97SUPP TCW Transform SupplyPairCorr
  0.95VYMI Vanguard InternationalPairCorr
  0.96SPY SPDR SP 500 Sell-off TrendPairCorr
  0.93DCPE DoubleLine Shiller CAPEPairCorr
  0.96SSUS Day HaganNed DavisPairCorr
  0.96VABS Virtus Newfleet ABSMBSPairCorr
  0.75CERY SPDR Series TrustPairCorr
  0.97ULST SPDR SSgA UltraPairCorr
  0.67SITC Site Centers CorpPairCorr
  0.82VBF Invesco Van KampenPairCorr
  0.98IBIB iShares TrustPairCorr
  0.68IBIC iShares TrustPairCorr
  0.96DECW AIM ETF ProductsPairCorr
  0.95VWO Vanguard FTSE Emerging Sell-off TrendPairCorr
  0.81BBBL BondBloxx ETF TrustPairCorr
  0.95QTOC Innovator ETFs TrustPairCorr
  0.89PFUT Putnam Sustainable FuturePairCorr
  0.75KGRN KraneShares MSCI ChinaPairCorr
  0.97SRLN SPDR Blackstone SeniorPairCorr
  0.93VFVA Vanguard Value FactorPairCorr
  0.97SEEM SEI Select EmergingPairCorr
  0.95SAUG First Trust ExchangePairCorr

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.

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