First Trust Correlations

FTSM Etf

USD 59.88 0.03 0.05%

The current 90-days correlation between First Trust Enhanced and First Trust Low is 0.57 (i.e., Very weak 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 Enhanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Very good diversification

The correlation between First Trust Enhanced and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Enhanced and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Etf

1.0	BIL	SPDR Bloomberg 1	Pair Corr
1.0	SHV	iShares Short Treasury	Pair Corr
1.0	JPST	JPMorgan Ultra Short	Pair Corr
0.99	USFR	WisdomTree Floating Rate	Pair Corr
1.0	ICSH	iShares Ultra Short	Pair Corr
1.0	SGOV	iShares 0 3	Pair Corr
1.0	GBIL	Goldman Sachs Access	Pair Corr
0.99	TFLO	iShares Treasury Floating	Pair Corr
0.97	FLRN	SPDR Bloomberg Investment	Pair Corr
0.98	DSJA	DSJA	Pair Corr
0.94	RSPY	Tuttle Capital Management	Pair Corr
0.72	ITDD	iShares Trust	Pair Corr
0.89	MEME	Roundhill Investments	Pair Corr
0.78	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.68	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.96	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr
0.89	WMT	Walmart	Pair Corr
0.79	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.81	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.91	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.98	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Moving against First Etf

0.73	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.69	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.65	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.44	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.08	0.77	-0.32	0.67	0.49	0.73	0.04	-0.43	0.29	META
MSFT	0.08		0.27	0.76	-0.25	-0.55	0.18	-0.09	0.75	-0.39	MSFT
UBER	0.77	0.27		0.04	0.48	0.32	0.61	0.4	-0.09	0.13	UBER
F	-0.32	0.76	0.04		-0.47	-0.6	-0.12	0.11	0.85	-0.26	F
T	0.67	-0.25	0.48	-0.47		0.68	0.44	0.03	-0.52	0.17	T
A	0.49	-0.55	0.32	-0.6	0.68		0.56	0.32	-0.71	0.57	A
CRM	0.73	0.18	0.61	-0.12	0.44	0.56		0.21	-0.23	0.54	CRM
JPM	0.04	-0.09	0.4	0.11	0.03	0.32	0.21		0.01	0.27	JPM
MRK	-0.43	0.75	-0.09	0.85	-0.52	-0.71	-0.23	0.01		-0.43	MRK
XOM	0.29	-0.39	0.13	-0.26	0.17	0.57	0.54	0.27	-0.43		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

MRK	+ 0.85	F
UBER	+ 0.77	META
F	+ 0.76	MSFT
MRK	+ 0.75	MSFT
CRM	+ 0.73	META
A	+ 0.68	T

High negative correlations

MRK	- 0.71	A
A	- 0.6	F
A	- 0.55	MSFT
MRK	- 0.52	T
T	- 0.47	F
XOM	- 0.43	MRK

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	1.54	0.16	0.07	0.31	1.91	(1.65)	3.93	(3.21)	11.55
MSFT	0.99	(0.25)	0.00	(0.17)	0.00	0.00	1.77	(2.45)	5.06
UBER	1.84	(0.04)	(0.01)	0.07	2.13	(2.19)	5.29	(3.33)	13.81
F	1.76	(0.39)	0.00	(0.16)	0.00	0.00	2.84	(3.91)	22.50
T	0.89	0.27	0.12	(8.83)	1.00	(1.00)	2.53	(2.20)	7.97
A	1.08	0.10	0.08	0.20	1.14	(1.12)	2.84	(2.08)	6.97
CRM	1.28	0.02	0.03	0.12	1.32	(1.37)	2.93	(2.21)	6.43
JPM	1.08	(0.10)	(0.04)	0.03	1.76	(0.91)	2.06	(2.37)	7.98
MRK	1.01	(0.18)	0.00	1.80	0.00	0.00	1.31	(2.09)	11.82
XOM	1.18	0.07	0.02	0.22	1.33	(1.26)	2.10	(2.09)	5.78

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