First Trust Correlations

Etfs . USA . 
Etf . First Trust Low
LMBS Etf  USD 49.21  0.02  0.04%   
The current 90-days correlation between First Trust Low and FlexShares Disciplined Duration is 0.75 (i.e., 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

Good diversification

The correlation between First Trust Low and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Low and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Low. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Etf

  0.96SHY iShares 1 3PairCorr
  0.95SPTS SPDR Barclays ShortPairCorr
  0.98AGZ iShares Agency BondPairCorr
  0.95FTSD Franklin Liberty ShortPairCorr
  0.95UTWO Rbb FundPairCorr
  0.96XTWO Bondbloxx ETF TrustPairCorr
  0.98XTRE Bondbloxx ETF TrustPairCorr
  0.87TRSY Xtrackers 0 1PairCorr
  0.9SLDR Global X ShortPairCorr
  0.97BND Vanguard Total Bond Sell-off TrendPairCorr
  0.91VEA Vanguard FTSE DevelopedPairCorr
  0.95JNJ Johnson JohnsonPairCorr
  0.85TRV The Travelers CompaniesPairCorr
  0.92T ATT Inc Earnings Call This WeekPairCorr
  0.89KO Coca ColaPairCorr
  0.71PG Procter GamblePairCorr
  0.74IBM International BusinessPairCorr
  0.63GE GE AerospacePairCorr
  0.66MMM 3M CompanyPairCorr

Moving against First Etf

  0.7VUG Vanguard Growth IndexPairCorr
  0.64VB Vanguard Small CapPairCorr
  0.52SPY SPDR SP 500PairCorr
  0.52IVV iShares Core SP Sell-off TrendPairCorr
  0.5VTI Vanguard Total StockPairCorr
  0.33VO Vanguard Mid CapPairCorr
  0.8MSFT MicrosoftPairCorr
  0.78AA Alcoa CorpPairCorr
  0.64AXP American Express Sell-off TrendPairCorr
  0.59BAC Bank of America Sell-off TrendPairCorr
  0.56HD Home DepotPairCorr
  0.47MRK Merck CompanyPairCorr

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.

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