First Trust Correlations

RDVY Etf

USD 58.58 0.46 0.78%

The current 90-days correlation between First Trust Rising and First Trust Capital is 0.73 (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

Poor diversification

The correlation between First Trust Rising and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Rising and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in First Trust Rising. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with First Etf

0.85	VTV	Vanguard Value Index	Pair Corr
0.86	VYM	Vanguard High Dividend	Pair Corr
0.91	IWD	iShares Russell 1000	Pair Corr
0.81	DGRO	iShares Core Dividend	Pair Corr
0.9	IVE	iShares SP 500	Pair Corr
0.67	DVY	iShares Select Dividend	Pair Corr
0.9	SPYV	SPDR Portfolio SP	Pair Corr
0.91	IUSV	iShares Core SP	Pair Corr
0.91	JPM	JPMorgan Chase	Pair Corr
0.62	BA	Boeing	Pair Corr
0.85	BAC	Bank of America	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.79	WMT	Walmart	Pair Corr

Moving against First Etf

0.37

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	FTCS	FVD	SDVY	FTGC	LMBS
FTCS		0.86	0.29	0.37	0.38	FTCS
FVD	0.86		-0.11	0.5	0.73	FVD
SDVY	0.29	-0.11		-0.1	-0.67	SDVY
FTGC	0.37	0.5	-0.1		0.56	FTGC
LMBS	0.38	0.73	-0.67	0.56		LMBS
	FTCS	FVD	SDVY	FTGC	LMBS

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FVD	+ 0.86	FTCS
LMBS	+ 0.73	FVD
LMBS	+ 0.56	FTGC
FTGC	+ 0.5	FVD
LMBS	+ 0.38	FTCS
FTGC	+ 0.37	FTCS

High negative correlations

LMBS	- 0.67	SDVY
SDVY	- 0.11	FVD
FTGC	- 0.1	SDVY

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
FTCS	0.62	(0.01)	0.00	(0.09)	0.00	0.00	1.04	(1.35)	3.38
FVD	0.61	0.01	0.00	(0.06)	0.00	0.00	1.20	(1.48)	3.03
SDVY	0.89	(0.11)	0.00	(0.18)	0.00	0.00	1.36	(2.23)	4.68
FTGC	0.48	0.09	0.27	7.47	0.40	(0.56)	1.15	(0.79)	3.72
LMBS	0.10	0.01	0.65	1.07	0.00	(0.12)	0.24	(0.17)	0.54

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