First Trust Correlations

FCVT Etf

USD 35.63 0.12 0.34%

The current 90-days correlation between First Trust SSI and First Trust Emerging is 0.4 (i.e., Very weak 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 SSI and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust SSI and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust SSI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with First Etf

0.87	ICVT	iShares Convertible Bond	Pair Corr
0.91	QCON	American Century Quality	Pair Corr
0.89	SIXD	AIM ETF Products	Pair Corr
0.75	CEFD	ETRACS Monthly Pay	Pair Corr
0.75	BA	Boeing	Pair Corr
0.74	WMT	Walmart Aggressive Push	Pair Corr
0.85	AXP	American Express Sell-off Trend	Pair Corr
0.83	BAC	Bank of America Sell-off Trend	Pair Corr
0.77	DIS	Walt Disney	Pair Corr

Moving against First Etf

0.64	ULE	ProShares Ultra Euro	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr
0.51	VZ	Verizon Communications	Pair Corr
0.5	PMBS	PIMCO Mortgage Backed	Pair Corr
0.47	JNJ	Johnson Johnson	Pair Corr
0.45	FXY	Invesco CurrencyShares	Pair Corr
0.44	YCL	ProShares Ultra Yen	Pair Corr
0.43	KO	Coca Cola	Pair Corr
0.33	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	FEMB	FMB	FIXD	FTSL	LMBS
FEMB		0.68	0.88	0.49	0.92	FEMB
FMB	0.68		0.8	0.38	0.74	FMB
FIXD	0.88	0.8		0.34	0.97	FIXD
FTSL	0.49	0.38	0.34		0.46	FTSL
LMBS	0.92	0.74	0.97	0.46		LMBS
	FEMB	FMB	FIXD	FTSL	LMBS

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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
FEMB	0.44	0.03	0.19	2.31	0.47	(0.48)	1.08	(0.81)	1.88
FMB	0.18	(0.02)	0.00	0.53	0.00	0.00	0.32	(0.41)	0.88
FIXD	0.28	0.00	0.23	(0.10)	0.31	(0.29)	0.57	(0.49)	1.53
FTSL	0.07	0.00	0.73	(0.16)	0.00	(0.09)	0.13	(0.15)	0.81
LMBS	0.10	0.01	0.66	(0.43)	0.00	(0.12)	0.24	(0.17)	0.54

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