First Trust Correlations

BUFR Etf

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The current 90-days correlation between First Trust Cboe and Innovator ETFs Trust is -0.03 (i.e., Good 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

Significant diversification

The correlation between First Trust Cboe and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Cboe and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

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

Moving together with First Etf

0.82	INOV	Innovator ETFs Trust	Pair Corr
0.62	BUFD	FT Cboe Vest	Pair Corr
0.89	PSEP	Innovator SP 500	Pair Corr
0.97	PJAN	Innovator SP 500	Pair Corr
0.64	PJUL	Innovator SP 500	Pair Corr
0.99	PAUG	Innovator Equity Power	Pair Corr
0.81	DNOV	FT Cboe Vest	Pair Corr
0.98	PMAY	Innovator SP 500	Pair Corr
0.96	ITDD	iShares Trust	Pair Corr
0.74	ITWO	Proshares Russell 2000	Pair Corr
0.94	QBIG	Invesco Top QQQ	Pair Corr
0.94	DSI	iShares MSCI KLD	Pair Corr
0.93	USCL	iShares Climate Conscious	Pair Corr
0.96	QDTE	Roundhill ETF Trust	Pair Corr
0.85	FEBU	AllianzIM Equity Buffer15	Pair Corr
0.63	ICLN	iShares Global Clean	Pair Corr
0.94	QDEF	FlexShares Quality	Pair Corr
0.68	ASA	ASA Gold	Pair Corr
0.78	TLTW	iShares Trust	Pair Corr
0.88	IGPT	Invesco Dynamic Software	Pair Corr
0.99	GMAY	First Trust Exchange	Pair Corr
0.86	DIEM	Franklin Templeton ETF	Pair Corr
0.89	SIXD	AIM ETF Products	Pair Corr
0.86	VEGN	US Vegan Climate	Pair Corr
0.99	SPYI	SHP ETF Trust	Pair Corr
0.75	VCLN	Virtus Duff Phelps	Pair Corr
0.93	TVAL	T Rowe Price	Pair Corr
0.87	SFLR	Innovator Equity Managed	Pair Corr

Moving against First Etf

0.44

VIXY

ProShares VIX Short

Pair Corr

Related Correlations Analysis

	INOV	BUFR	BUFD	PSEP	PJAN	PJUL	PAUG	DNOV	PMAY	ACII
INOV		0.82	0.49	0.68	0.82	0.49	0.78	0.65	0.79	-0.28	INOV
BUFR	0.82		0.62	0.89	0.97	0.64	0.99	0.81	0.98	-0.13	BUFR
BUFD	0.49	0.62		0.68	0.65	0.98	0.57	0.71	0.62	-0.1	BUFD
PSEP	0.68	0.89	0.68		0.86	0.74	0.88	0.81	0.89	-0.16	PSEP
PJAN	0.82	0.97	0.65	0.86		0.65	0.94	0.89	0.97	-0.15	PJAN
PJUL	0.49	0.64	0.98	0.74	0.65		0.62	0.65	0.64	-0.08	PJUL
PAUG	0.78	0.99	0.57	0.88	0.94	0.62		0.75	0.97	-0.11	PAUG
DNOV	0.65	0.81	0.71	0.81	0.89	0.65	0.75		0.83	-0.13	DNOV
PMAY	0.79	0.98	0.62	0.89	0.97	0.64	0.97	0.83		-0.15	PMAY
ACII	-0.28	-0.13	-0.1	-0.16	-0.15	-0.08	-0.11	-0.13	-0.15		ACII
	INOV	BUFR	BUFD	PSEP	PJAN	PJUL	PAUG	DNOV	PMAY	ACII

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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

PAUG	+ 0.99	BUFR
PMAY	+ 0.98	BUFR
PJUL	+ 0.98	BUFD
PJAN	+ 0.97	BUFR
PMAY	+ 0.97	PJAN
PMAY	+ 0.97	PAUG

High negative correlations

ACII	- 0.28	INOV
ACII	- 0.16	PSEP
ACII	- 0.15	PMAY
ACII	- 0.15	PJAN
ACII	- 0.13	DNOV
ACII	- 0.13	BUFR

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
INOV	0.24	0.03	(0.09)	0.75	0.32	(0.26)	0.66	(0.75)	1.81
BUFR	0.26	0.05	(0.05)	1.69	0.30	(0.27)	0.63	(0.50)	1.89
BUFD	0.21	0.01	(0.14)	0.11	0.10	(0.25)	0.54	(0.36)	1.30
PSEP	0.26	0.01	(0.10)	0.09	0.27	(0.27)	0.51	(0.40)	1.79
PJAN	0.19	0.04	(0.11)	0.85	0.10	(0.22)	0.42	(0.37)	1.47
PJUL	0.21	0.00	(0.15)	0.08	0.21	(0.21)	0.44	(0.37)	1.34
PAUG	0.23	0.04	(0.10)	0.91	0.22	(0.25)	0.52	(0.42)	1.70
DNOV	0.20	0.05	0.00	0.22	0.00	(0.23)	0.53	(0.30)	1.63
PMAY	0.15	0.02	(0.18)	0.62	0.10	(0.16)	0.39	(0.39)	1.01
ACII	0.27	0.03	(0.12)	(4.56)	0.23	(0.35)	0.63	(0.48)	1.44

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