First Trust Correlations

MDIV Etf

USD 16.55 0.03 0.18%

The current 90-days correlation between First Trust Multi and Global X SuperIncome is 0.58 (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

Very weak diversification

The correlation between First Trust Multi Asset and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Multi Asset 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 Multi Asset. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

0.72	NTSX	WisdomTree 9060 Balanced	Pair Corr
0.89	CVY	Invesco Zacks Multi	Pair Corr
0.9	HIPS	GraniteShares HIPS High	Pair Corr
0.86	ALTY	Global X Alternative	Pair Corr
0.73	PMBS	PIMCO Mortgage Backed	Pair Corr
0.66	SIXD	AIM ETF Products	Pair Corr
0.78	YCL	ProShares Ultra Yen	Pair Corr
0.77	CEFD	ETRACS Monthly Pay	Pair Corr
0.69	FXY	Invesco CurrencyShares	Pair Corr
0.77	NTSI	WisdomTree International	Pair Corr
0.82	PSUCF	PSUCF	Pair Corr
0.78	IBIG	iShares Trust	Pair Corr
0.78	JDVI	John Hancock Exchange	Pair Corr
0.69	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.74	SKOR	FlexShares Credit	Pair Corr
0.75	IDV	iShares International Low Volatility	Pair Corr
0.65	XBJL	Innovator Equity Acc	Pair Corr
0.65	DVYE	iShares Emerging Markets	Pair Corr
0.73	IOCT	Innovator ETFs Trust	Pair Corr

Related Correlations Analysis

	SPFF	IYLD	PCEF	ANGL	HYLS
SPFF		0.41	0.34	0.34	0.14	SPFF
IYLD	0.41		0.91	0.65	0.57	IYLD
PCEF	0.34	0.91		0.84	0.77	PCEF
ANGL	0.34	0.65	0.84		0.94	ANGL
HYLS	0.14	0.57	0.77	0.94		HYLS
	SPFF	IYLD	PCEF	ANGL	HYLS

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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
SPFF	0.44	(0.03)	0.00	(0.10)	0.00	0.00	1.11	(1.18)	3.36
IYLD	0.24	0.01	0.03	0.08	0.33	(0.25)	0.46	(0.51)	1.63
PCEF	0.40	0.01	0.01	0.05	0.59	(0.38)	0.90	(0.89)	2.40
ANGL	0.21	0.01	0.03	0.11	0.28	(0.22)	0.45	(0.38)	1.88
HYLS	0.16	0.02	0.05	0.15	0.12	(0.18)	0.41	(0.32)	1.26

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First Trust Correlations

First Trust Correlation With Market

Very weak diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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