First Trust Competition
| FBT Etf | CAD 33.42 -0.50 -1.47% |
Pair Correlation for First Trust and IDEX Metals Snapshot
Average diversification
The correlation between FBT and IDEX is 0.17, which Macroaxis classifies as Average diversification for the selected horizon. The overlap area represents the portion of risk that may be diversified away when both instruments are held together and nothing else in the portfolio changes.
Moving against First Etf
The degree to which First Trust's exhibits mean reversion depends on how efficiently the market prices new information. In highly covered equities, the mean reversion window tends to be shorter.
First Trust Competition Correlation Matrix
Correlation analysis between First Trust NYSE and its competitors helps investors understand whether diversification is real or only superficial inside the same peer group. This matrix is most informative when investors want to know whether adding another peer would improve diversification, increase crowding, or leave total risk largely unchanged.
High positive correlations
| High negative correlations
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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 | 1.47 | 0.02 | 0.01 | 0.03 | 1.65 | 2.38 | 13.69 | |||
| MSFT | 1.32 | -0.25 | 0.00 | -0.84 | 0.00 | 2.19 | 13.28 | |||
| UBER | 1.53 | -0.20 | 0.00 | -0.46 | 0.00 | 2.70 | 11.09 | |||
| F | 1.36 | -0.10 | 0.00 | -0.09 | 0.00 | 3.61 | 10.01 | |||
| T | 1.07 | 0.18 | 0.15 | -0.73 | 0.94 | 3.87 | 7.44 | |||
| A | 1.25 | -0.40 | 0.00 | -0.40 | 0.00 | 2.48 | 7.20 | |||
| CRM | 1.81 | -0.19 | 0.00 | -0.23 | 0.00 | 4.03 | 12.37 | |||
| JPM | 1.25 | -0.09 | 0.00 | -0.06 | 0.00 | 2.34 | 8.17 | |||
| MRK | 1.22 | 0.21 | 0.14 | 0.44 | 1.32 | 2.54 | 7.29 | |||
| XOM | 1.33 | 0.41 | 0.28 | 3.38 | 1.12 | 2.90 | 6.83 |
First Trust Competitive Analysis
First Trust competitive analysis is a powerful tool for investors seeking to contextualize First Trust's financial performance. Comparing First Trust's key ratios to peers highlights areas where the company excels or needs improvement.| Better Than Average | Worse Than Peers | View Performance Chart |
First Trust Peer Performance Charts
How to Analyze First Trust Against Peers
First Trust's peer analysis compares First Trust with related companies to put valuation, quality, and risk metrics in context. This helps determine whether recent performance is company-specific or broadly sector-driven. A practical workflow includes:- Set a relevant peer group: Include direct competitors and close alternatives with comparable business exposure.
- Benchmark core financials: Compare profitability, growth, capital structure, and cash flow quality.
- Check valuation dispersion: Review whether First Trust trades at a premium or discount versus peers and why.
- Evaluate risk profile: Compare volatility, drawdowns, and correlation to avoid false diversification assumptions.
- Document the thesis: Record where First Trust leads or lags and what catalysts could close or widen the gap.