First Trust Correlations

Etfs . USA . 
Etf . First Trust Active
AFLG Etf  USD 35.34  0.20  0.57%   
The current 90-days correlation between First Trust Active and Vanguard Total Stock is 0.95 (i.e., Almost no 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

Very weak diversification

The correlation between First Trust Active and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Active and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in First Trust Active. 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 economic analysis.

Moving together with First Etf

  0.97VTI Vanguard Total StockPairCorr
  0.94SPY SPDR SP 500 Aggressive PushPairCorr
  0.94IVV iShares Core SPPairCorr
  0.81VIG Vanguard DividendPairCorr
  0.94VV Vanguard Large CapPairCorr
  0.77RSP Invesco SP 500PairCorr
  0.96IWB iShares Russell 1000PairCorr
  0.95ESGU iShares ESG AwarePairCorr
  0.97DFAC Dimensional Core EquityPairCorr
  0.94SPLG SPDR Portfolio SPPairCorr
  0.7VUG Vanguard Growth IndexPairCorr
  0.93VO Vanguard Mid CapPairCorr
  0.95VB Vanguard Small CapPairCorr
  0.79ETH Grayscale Ethereum Mini Buyout TrendPairCorr
  0.9IYG iShares FinancialPairCorr
  0.68BTC Grayscale Bitcoin MiniPairCorr
  0.83ETHT ProShares Trust Upward RallyPairCorr
  0.69WANT Direxion Daily CnsmrPairCorr
  0.88Z Zillow Group ClassPairCorr
  0.79FETH Fidelity Advantage Ether Buyout TrendPairCorr
  0.82XOUT GraniteShares XOUT LargePairCorr
  0.72BITX Volatility Shares Trust Buyout TrendPairCorr
  0.88AUGP PGIM Large CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VTI  0.60  0.03  0.02  0.12  0.87 
(0.61)
 1.27 
(1.27)
 5.89 
SPY  0.57  0.03  0.01  0.10  0.86 
(0.54)
 1.21 
(1.28)
 5.47 
IVV  0.57  0.03  0.01  0.10  0.86 
(0.55)
 1.21 
(1.27)
 5.42 
VIG  0.53 (0.02) 0.00 (0.05) 0.00 
 0.00 
 1.02 
(1.25)
 5.04 
VV  0.60  0.03  0.02  0.11  0.89 
(0.55)
 1.26 
(1.27)
 5.70 
RSP  0.55 (0.02) 0.00 (0.03) 0.00 
 0.00 
 1.16 
(1.01)
 5.33 
IWB  0.59  0.03  0.02  0.12  0.85 
(0.58)
 1.24 
(1.33)
 5.71 
ESGU  0.60  0.03  0.02  0.11  0.89 
(0.59)
 1.23 
(1.38)
 5.53 
DFAC  0.58  0.01  0.00  0.05  0.79 
(0.57)
 1.10 
(1.24)
 6.41 
SPLG  0.57  0.03  0.01  0.10  0.86 
(0.53)
 1.20 
(1.29)
 5.48 

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