First Trust Correlations

FSMB Etf

USD 19.94 0.01 0.05%

The current 90-days correlation between First Trust Short and First Trust Ultra is 0.19 (i.e., Average 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

Average diversification

The correlation between First Trust Short and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Short 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 Short. 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

0.94	SUB	iShares Short Term	Pair Corr
0.98	SHM	SPDR Nuveen Bloomberg	Pair Corr
0.95	JMST	JPMorgan Ultra Short	Pair Corr
0.89	DFNM	Dimensional ETF Trust	Pair Corr
0.97	MEAR	iShares Short Maturity	Pair Corr
0.97	SMB	VanEck Short Muni	Pair Corr
0.9	FUMB	First Trust Ultra	Pair Corr
0.76	PVI	Invesco VRDO Tax	Pair Corr
0.98	TAFI	Ab Tax Aware	Pair Corr
0.92	FXY	Invesco CurrencyShares	Pair Corr
0.92	PMBS	PIMCO Mortgage Backed	Pair Corr
0.83	GDXU	MicroSectors Gold Miners	Pair Corr
0.84	KO	Coca Cola	Pair Corr
0.85	VZ	Verizon Communications	Pair Corr
0.75	MCD	McDonalds	Pair Corr
0.83	IBM	International Business	Pair Corr
0.7	CSCO	Cisco Systems	Pair Corr
0.66	PG	Procter Gamble	Pair Corr
0.93	T	ATT Inc Earnings Call Today	Pair Corr
0.81	GE	GE Aerospace	Pair Corr
0.83	MMM	3M Company	Pair Corr

Moving against First Etf

0.78	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.57	CAT	Caterpillar	Pair Corr
0.35	BAC	Bank of America Sell-off Trend	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.77	MSFT	Microsoft	Pair Corr
0.6	MRK	Merck Company	Pair Corr
0.53	HPQ	HP Inc	Pair Corr
0.41	DIS	Walt Disney	Pair Corr
0.41	AXP	American Express Sell-off Trend	Pair Corr

Related Correlations Analysis

	FUMB	FMHI	FMB	FPEI	JMST
FUMB		0.67	0.61	0.79	0.96	FUMB
FMHI	0.67		0.97	0.89	0.74	FMHI
FMB	0.61	0.97		0.87	0.68	FMB
FPEI	0.79	0.89	0.87		0.85	FPEI
JMST	0.96	0.74	0.68	0.85		JMST
	FUMB	FMHI	FMB	FPEI	JMST

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FUMB	0.05	0.00	0.89	0.00	0.00	(0.07)	0.10	(0.10)	0.25
FMHI	0.22	(0.01)	0.00	(0.42)	0.00	0.00	0.48	(0.44)	1.25
FMB	0.18	(0.01)	0.00	(0.30)	0.00	0.00	0.32	(0.36)	0.88
FPEI	0.16	0.01	0.28	(0.01)	0.19	(0.16)	0.27	(0.38)	1.08
JMST	0.03	0.00	1.71	0.00	0.00	(0.04)	0.06	(0.04)	0.16

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC