First Trust Correlations

FEMS Etf

USD 37.09 0.45 1.23%

The current 90-days correlation between First Trust Emerging and First Trust Emerging is 0.86 (i.e., Very 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

Modest diversification

The correlation between First Trust Emerging and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Emerging 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 Emerging. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with First Etf

0.82	VWO	Vanguard FTSE Emerging	Pair Corr
0.74	IEMG	iShares Core MSCI	Pair Corr
0.75	EMC	Global X Funds	Pair Corr
0.72	EEM	iShares MSCI Emerging Aggressive Push	Pair Corr
0.83	SPEM	SPDR Portfolio Emerging	Pair Corr
0.76	FNDE	Schwab Fundamental	Pair Corr
0.72	ESGE	iShares ESG Aware	Pair Corr
0.83	DGS	WisdomTree Emerging	Pair Corr
0.76	XSOE	WisdomTree Emerging	Pair Corr
0.66	EMXC	iShares MSCI Emerging	Pair Corr
0.79	BND	Vanguard Total Bond	Pair Corr
0.73	VEA	Vanguard FTSE Developed	Pair Corr

Moving against First Etf

0.66	GSG	iShares SP GSCI	Pair Corr
0.66	BNO	United States Brent	Pair Corr
0.6	WUCT	UBS AG London	Pair Corr
0.53	XONE	Bondbloxx Bloomberg One	Pair Corr
0.49	BCD	abrdn Bloomberg All	Pair Corr
0.39	PBDC	Putnam ETF Trust	Pair Corr
0.32	UMI	USCF Midstream Energy	Pair Corr
0.71	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.55	TFLO	iShares Treasury Floating	Pair Corr
0.53	JAAA	Janus Detroit Street	Pair Corr
0.52	MINT	PIMCO Enhanced Short	Pair Corr
0.47	SEIX	Virtus ETF Trust	Pair Corr
0.47	YEAR	AB Ultra Short	Pair Corr

Related Correlations Analysis

	FEM	FLN	FDT	FDTS	FBZ
FEM		0.63	0.72	0.78	0.57	FEM
FLN	0.63		0.81	0.7	0.98	FLN
FDT	0.72	0.81		0.87	0.78	FDT
FDTS	0.78	0.7	0.87		0.63	FDTS
FBZ	0.57	0.98	0.78	0.63		FBZ
	FEM	FLN	FDT	FDTS	FBZ

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FEM	0.82	(0.08)	(0.24)	1.68	(2.28)	6.77
FLN	1.06	(0.20)	(0.93)	1.74	(2.12)	6.27
FDT	0.54	(0.07)	(0.22)	1.19	(1.40)	3.33
FDTS	0.72	(0.08)	(0.29)	1.55	(1.54)	3.96
FBZ	1.25	(0.25)	(0.76)	2.54	(2.95)	9.53

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