First Trust Correlations

MARB Etf

USD 20.52 0.03 0.15%

The current 90-days correlation between First Trust Vivaldi and First Trust Managed is 0.22 (i.e., Modest 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

Significant diversification

The correlation between First Trust Vivaldi and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Vivaldi 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 Vivaldi. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with First Etf

0.82	MNA	IQ Merger Arbitrage	Pair Corr
0.89	ARB	AltShares Trust	Pair Corr
0.64	EVNT	AltShares Event Driven	Pair Corr
0.82	WSML	iShares MSCI World	Pair Corr
0.76	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.92	PULS	PGIM Ultra Short	Pair Corr
0.81	CPSR	Calamos ETF Trust	Pair Corr
0.88	LCAP	Principal Capital	Pair Corr
0.84	CAS	Simplify Exchange Traded	Pair Corr
0.78	LRNZ	Elevation Series Trust	Pair Corr
0.78	SPRX	Spear Alpha ETF	Pair Corr
0.76	ABEQ	Absolute Core Strategy	Pair Corr
0.8	HYDR	Global X Hydrogen	Pair Corr
0.79	DFSU	Dimensional Sustainability	Pair Corr
0.79	VFMV	Vanguard Minimum Vol	Pair Corr
0.66	VCLT	Vanguard Long Term	Pair Corr
0.77	VBK	Vanguard Small Cap	Pair Corr
0.61	PCRB	Putnam ETF Trust	Pair Corr
0.9	TLTE	FlexShares Morningstar	Pair Corr
0.75	MVV	ProShares Ultra MidCap400	Pair Corr
0.65	IWB	iShares Russell 1000	Pair Corr
0.88	MEM	MAYBANK EMERGING ETF	Pair Corr
0.77	IGF	iShares Global Infra	Pair Corr
0.82	IVAL	Alpha Architect Inte	Pair Corr
0.81	ITDG	iShares Trust	Pair Corr
0.7	OBIL	US Treasury 12	Pair Corr
0.89	FLCG	Federated Hermes ETF	Pair Corr
0.66	PSFF	Pacer Funds Trust	Pair Corr
0.66	GMAR	First Trust Exchange	Pair Corr
0.78	TMFC	Motley Fool 100 Low Volatility	Pair Corr
0.69	PIN	Invesco India ETF	Pair Corr

Moving against First Etf

0.7

BITI

ProShares Trust

Pair Corr

Related Correlations Analysis

	FMF	MRGR	FLSP	OVF	FTLS
FMF		0.39	-0.3	0.27	0.1	FMF
MRGR	0.39		0.27	0.72	0.6	MRGR
FLSP	-0.3	0.27		0.38	0.47	FLSP
OVF	0.27	0.72	0.38		0.96	OVF
FTLS	0.1	0.6	0.47	0.96		FTLS
	FMF	MRGR	FLSP	OVF	FTLS

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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

FTLS	+ 0.96	OVF
OVF	+ 0.72	MRGR
FTLS	+ 0.6	MRGR
FTLS	+ 0.47	FLSP
MRGR	+ 0.39	FMF
OVF	+ 0.38	FLSP

High negative correlations

FLSP

- 0.3

FMF

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
FMF	0.45	0.00	(0.24)	0.16	0.57	(0.46)	0.89	(0.82)	2.57
MRGR	0.08	0.03	(1.09)	3.40	0.00	(0.10)	0.21	(0.12)	0.50
FLSP	0.51	0.01	(0.17)	0.55	0.66	(0.53)	1.04	(1.15)	3.19
OVF	0.54	0.25	0.12	(1.40)	0.35	(0.61)	1.39	(1.02)	3.87
FTLS	0.37	0.13	(0.03)	(2.81)	0.00	(0.46)	0.88	(0.54)	2.36

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