First Trust Correlations

LMBS Etf

USD 48.98 0.06 0.12%

The current 90-days correlation between First Trust Low and FlexShares Disciplined Duration is 0.75 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Low and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Low and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Low. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Etf

0.76	SHY	iShares 1 3	Pair Corr
0.76	SPTS	SPDR Barclays Short	Pair Corr
0.92	AGZ	iShares Agency Bond	Pair Corr
0.77	FTSD	Franklin Liberty Short	Pair Corr
0.76	UTWO	Rbb Fund	Pair Corr
0.77	XTWO	Bondbloxx ETF Trust	Pair Corr
0.81	XTRE	Bondbloxx ETF Trust	Pair Corr
0.66	TRSY	Xtrackers 0 1	Pair Corr
0.8	JSI	Janus Detroit Street	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr

Moving against First Etf

0.38	WMT	Walmart	Pair Corr
0.47	HD	Home Depot Earnings Call This Week	Pair Corr
0.43	HPQ	HP Inc	Pair Corr
0.4	AA	Alcoa Corp Earnings Call Tomorrow	Pair Corr
0.32	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	MBSD	VMBS	MTBA	MTGP	MBB	OWNS	GNMA	JMBS	SMBS
MBSD		0.91	0.91	0.95	0.97	0.96	0.96	0.95	0.98	MBSD
VMBS	0.91		0.98	0.93	0.96	0.94	0.95	0.95	0.95	VMBS
MTBA	0.91	0.98		0.91	0.93	0.92	0.93	0.92	0.93	MTBA
MTGP	0.95	0.93	0.91		0.97	0.96	0.96	0.94	0.96	MTGP
MBB	0.97	0.96	0.93	0.97		0.98	0.98	0.98	0.99	MBB
OWNS	0.96	0.94	0.92	0.96	0.98		0.97	0.98	0.98	OWNS
GNMA	0.96	0.95	0.93	0.96	0.98	0.97		0.97	0.98	GNMA
JMBS	0.95	0.95	0.92	0.94	0.98	0.98	0.97		0.97	JMBS
SMBS	0.98	0.95	0.93	0.96	0.99	0.98	0.98	0.97		SMBS
	MBSD	VMBS	MTBA	MTGP	MBB	OWNS	GNMA	JMBS	SMBS

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MBSD	0.25	0.01	0.38	(0.61)	0.28	(0.27)	0.49	(0.39)	1.79
VMBS	0.33	0.02	0.29	3.21	0.42	(0.34)	0.65	(0.63)	2.08
MTBA	0.20	0.01	0.43	0.75	0.24	(0.20)	0.34	(0.41)	1.28
MTGP	0.31	0.02	0.33	(0.73)	0.34	(0.33)	0.61	(0.58)	1.96
MBB	0.31	0.02	0.32	1.85	0.36	(0.31)	0.66	(0.64)	1.76
OWNS	0.29	0.01	0.27	(0.60)	0.39	(0.30)	0.60	(0.48)	2.42
GNMA	0.32	0.02	0.29	(3.28)	0.38	(0.33)	0.68	(0.56)	1.99
JMBS	0.33	0.02	0.28	14.42	0.42	(0.31)	0.64	(0.66)	1.95
SMBS	0.31	0.02	0.32	(6.64)	0.36	(0.32)	0.71	(0.55)	1.70

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