First Trust Correlations

BUFT Etf

USD 24.13 0.06 0.25%

The current 90-days correlation between First Trust Exchange and FT Cboe Vest is 0.64 (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

Very good diversification

The correlation between First Trust Exchange Traded 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 Exchange Traded 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 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 price.

Moving together with First Etf

0.95	INOV	Innovator ETFs Trust	Pair Corr
0.99	BUFR	First Trust Cboe	Pair Corr
0.99	BUFD	FT Cboe Vest	Pair Corr
0.99	PSEP	Innovator SP 500	Pair Corr
0.99	PJAN	Innovator SP 500	Pair Corr
0.99	PJUL	Innovator SP 500	Pair Corr
0.99	PAUG	Innovator Equity Power	Pair Corr
0.98	DNOV	FT Cboe Vest	Pair Corr
0.99	PMAY	Innovator SP 500	Pair Corr
0.99	PJUN	Innovator SP 500	Pair Corr
0.85	GDXU	MicroSectors Gold Miners	Pair Corr
0.86	JNUG	Direxion Daily Junior	Pair Corr
0.87	NUGT	Direxion Daily Gold	Pair Corr
0.75	SHNY	Microsectors Gold	Pair Corr
0.74	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.86	TESL	Simplify Volt TSLA Symbol Change	Pair Corr
0.85	GDMN	WisdomTree Efficient Gold	Pair Corr
0.83	AXP	American Express	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.68	XOM	Exxon Mobil Corp	Pair Corr
0.78	TRV	The Travelers Companies	Pair Corr
0.8	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.67	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.73	JPM	JPMorgan Chase	Pair Corr

Moving against First Etf

0.68	WTID	UBS ETRACS	Pair Corr
0.68	KO	Coca Cola Earnings Call This Week	Pair Corr
0.58	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.11	-0.06	-0.19	0.64	-0.47	-0.41	-0.16	-0.45	-0.24	META
MSFT	0.11		-0.14	-0.16	-0.48	0.01	-0.27	-0.02	-0.12	-0.27	MSFT
UBER	-0.06	-0.14		0.79	0.11	0.5	-0.45	0.73	0.36	0.64	UBER
F	-0.19	-0.16	0.79		0.02	0.65	-0.46	0.64	0.61	0.61	F
T	0.64	-0.48	0.11	0.02		-0.45	-0.07	-0.05	-0.27	0.02	T
A	-0.47	0.01	0.5	0.65	-0.45		-0.33	0.56	0.64	0.54	A
CRM	-0.41	-0.27	-0.45	-0.46	-0.07	-0.33		-0.26	-0.17	-0.06	CRM
JPM	-0.16	-0.02	0.73	0.64	-0.05	0.56	-0.26		0.21	0.84	JPM
MRK	-0.45	-0.12	0.36	0.61	-0.27	0.64	-0.17	0.21		0.27	MRK
XOM	-0.24	-0.27	0.64	0.61	0.02	0.54	-0.06	0.84	0.27		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

XOM	+ 0.84	JPM
F	+ 0.79	UBER
JPM	+ 0.73	UBER
A	+ 0.65	F
T	+ 0.64	META
XOM	+ 0.64	UBER

High negative correlations

T	- 0.48	MSFT
A	- 0.47	META
CRM	- 0.46	F
A	- 0.45	T
CRM	- 0.45	UBER
MRK	- 0.45	META

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	1.30	0.05	(0.02)	(0.03)	1.48	(1.48)	2.18	(2.32)	15.10
MSFT	0.75	(0.02)	(0.05)	0.01	0.97	(0.74)	1.86	(1.64)	6.50
UBER	1.40	0.00	(0.01)	0.05	1.95	(1.33)	3.62	(3.30)	8.86
F	1.13	0.06	0.04	0.10	1.51	(1.20)	2.98	(1.83)	9.82
T	0.84	(0.02)	0.00	0.66	0.00	0.00	1.82	(2.30)	6.47
A	1.41	0.39	0.23	(1.65)	1.03	(1.64)	3.82	(2.15)	10.46
CRM	1.47	(0.13)	0.00	(0.11)	0.00	0.00	2.76	(3.33)	8.74
JPM	0.81	(0.01)	(0.01)	0.04	1.13	(0.80)	1.69	(1.91)	4.93
MRK	1.27	0.04	0.02	0.09	1.31	(1.44)	2.91	(2.36)	9.11
XOM	0.92	(0.01)	(0.02)	0.03	1.38	(0.83)	1.72	(2.42)	4.70

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