First Trust Correlations

FUMB Etf

USD 20.10 0.01 0.05%

The current 90-days correlation between First Trust Ultra and First Trust Short is -0.27 (i.e., Very good 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.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Ultra. 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

0.87	SUB	iShares Short Term	Pair Corr
0.88	SHM	SPDR Nuveen Bloomberg	Pair Corr
0.96	JMST	JPMorgan Ultra Short	Pair Corr
0.7	DFNM	Dimensional ETF Trust	Pair Corr
0.93	MEAR	iShares Short Maturity	Pair Corr
0.66	FSMB	First Trust Short	Pair Corr
0.89	SMB	VanEck Short Muni	Pair Corr
0.86	PVI	Invesco VRDO Tax	Pair Corr
0.68	TAFI	Ab Tax Aware	Pair Corr
0.86	FXY	Invesco CurrencyShares	Pair Corr
0.8	PMBS	PIMCO Mortgage Backed	Pair Corr
0.63	AMPD	Tidal Trust II	Pair Corr
0.87	GDXU	MicroSectors Gold Miners	Pair Corr
0.82	KO	Coca Cola	Pair Corr
0.77	VZ	Verizon Communications	Pair Corr
0.62	MCD	McDonalds	Pair Corr
0.79	IBM	International Business	Pair Corr
0.65	XOM	Exxon Mobil Corp	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.87	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.85	GE	GE Aerospace	Pair Corr
0.87	MMM	3M Company	Pair Corr

Moving against First Etf

0.8	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.53	CAT	Caterpillar	Pair Corr
0.33	BAC	Bank of America	Pair Corr
0.81	MSFT	Microsoft	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.61	MRK	Merck Company	Pair Corr
0.56	HPQ	HP Inc	Pair Corr
0.55	DIS	Walt Disney	Pair Corr
0.41	AXP	American Express	Pair Corr

Related Correlations Analysis

	FSMB	FMHI	FPEI	JMST	FMB
FSMB		0.8	0.91	0.72	0.74	FSMB
FMHI	0.8		0.8	0.74	0.97	FMHI
FPEI	0.91	0.8		0.67	0.77	FPEI
JMST	0.72	0.74	0.67		0.68	JMST
FMB	0.74	0.97	0.77	0.68		FMB
	FSMB	FMHI	FPEI	JMST	FMB

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
FSMB	0.08	0.01	0.78	(3.92)	0.00	(0.10)	0.20	(0.10)	0.46
FMHI	0.22	(0.01)	0.00	(0.42)	0.00	0.00	0.48	(0.44)	1.25
FPEI	0.15	0.01	0.37	10.89	0.12	(0.16)	0.27	(0.32)	1.08
JMST	0.03	0.00	1.71	0.00	0.00	(0.04)	0.06	(0.04)	0.16
FMB	0.18	(0.01)	0.00	(0.30)	0.00	0.00	0.32	(0.36)	0.88

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

First Trust Correlations

Moving together with First Etf

Moving against First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY