First Trust Correlations

Etfs USA . 
Etf . First Trust Active
AFSM Etf  USD 30.75  0.13  0.42%   
The current 90-days correlation between First Trust Active and Vanguard Small Cap Index is 0.95 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Active moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Weak diversification

The correlation between First Trust Active and DJI is 0.35 (i.e., 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 state.

Moving together with First Etf

  0.9VB Vanguard Small CapPairCorr
  0.97IJR iShares Core SPPairCorr
  0.98IWM iShares Russell 2000 Aggressive PushPairCorr
  0.97VRTIX Vanguard Russell 2000PairCorr
  0.97VTWO Vanguard Russell 2000PairCorr
  0.96FNDA Schwab Fundamental SmallPairCorr
  0.97SPSM SPDR Portfolio SPPairCorr
  0.96DFAS Dimensional Small CapPairCorr
  0.97VIOO Vanguard SP SmallPairCorr
  0.95PRFZ Invesco FTSE RAFIPairCorr
  0.61DAPP VanEck Digital TransPairCorr
  0.61IGV iShares Expanded TechPairCorr

Moving against First Etf

  0.6TBT ProShares UltraShortPairCorr
  0.49YCS ProShares UltraShort YenPairCorr
  0.61TMV Direxion Daily 20 Sell-off TrendPairCorr
  0.46BNO United States BrentPairCorr
  0.31XONE Bondbloxx Bloomberg OnePairCorr
  0.46GSG iShares SP GSCIPairCorr
  0.34IVES Amplify ETF Trust Symbol ChangePairCorr

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
VB  0.77  0.04  0.03  0.11  1.02 
(0.76)
 1.56 
(1.21)
 8.20 
IJR  0.87  0.01  0.00  0.05  1.15 
(0.85)
 1.69 
(1.63)
 10.05 
IWM  0.92  0.01  0.00  0.04  1.25 
(0.92)
 1.84 
(1.66)
 10.22 
VRTIX  0.93  0.01  0.00  0.04  1.21 
(0.96)
 1.81 
(1.62)
 10.24 
VTWO  0.92  0.01  0.00  0.04  1.23 
(0.92)
 1.83 
(1.70)
 10.22 
FNDA  0.78  0.02  0.01  0.07  1.02 
(0.82)
 1.55 
(1.43)
 9.19 
SPSM  0.87  0.02  0.01  0.05  1.14 
(0.90)
 1.63 
(1.56)
 10.04 
DFAS  0.82  0.03  0.02  0.08  1.00 
(0.92)
 1.70 
(1.40)
 9.58 
VIOO  0.87  0.01  0.00  0.05  1.15 
(0.85)
 1.66 
(1.62)
 10.04 
PRFZ  0.84  0.02  0.01  0.07  1.10 
(0.86)
 1.71 
(1.64)
 9.52 

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