First Trust Correlations

SCIO Etf

USD 20.55 0.01 0.05%

The current 90-days correlation between First Trust Exchange and Valued Advisers Trust is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Exchange Traded moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Average diversification

The correlation between First Trust Exchange Traded and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange Traded and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in First Trust Exchange Traded. 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

0.64	AXSAX	Axonic Strategic Income	Pair Corr
0.63	AXSIX	Axonic Strategic Income	Pair Corr
0.61	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.61	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.72	DEED	First Trust TCW	Pair Corr
0.61	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.68	JPIE	JP Morgan Exchange	Pair Corr
0.68	MUSI	American Century Mul	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.73	PG	Procter Gamble	Pair Corr
0.69	VZ	Verizon Communications	Pair Corr

Moving against First Etf

0.74	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.63	USD	ProShares Ultra Semi	Pair Corr
0.58	FNGO	MicroSectors FANG Index	Pair Corr
0.57	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.58	AXP	American Express	Pair Corr
0.52	CAT	Caterpillar	Pair Corr
0.46	HD	Home Depot	Pair Corr
0.36	MSFT	Microsoft	Pair Corr
0.33	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.39	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.49	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.12	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.05	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.49	-0.71	0.17	-0.65	0.58	T
A	0.39	0.49	-0.12	-0.05	-0.49		0.6	0.64	0.04	-0.22	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.6		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.64	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.04	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.22	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
JPM	+ 0.64	A
CRM	+ 0.6	A
UBER	+ 0.59	META

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

First Trust Competition 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
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.16	(0.17)	0.00	7.74	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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