First Trust Correlations

CIBR Etf

USD 72.85 0.04 0.05%

The current 90-days correlation between First Trust NASDAQ and Invesco SP 500 is 0.75 (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

Poor diversification

The correlation between First Trust NASDAQ and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NASDAQ 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 NASDAQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Etf

0.62	VGT	Vanguard Information	Pair Corr
0.91	IGV	iShares Expanded Tech	Pair Corr
0.9	FDN	First Trust Dow	Pair Corr

Moving against First Etf

0.52	AMPD	Tidal ETF Services	Pair Corr
0.48	ZJAN	Innovator Equity Defined	Pair Corr
0.47	SLX	VanEck Steel ETF	Pair Corr
0.47	GBUG	Sprott Active Gold	Pair Corr
0.35	SIXS	6 Meridian Small	Pair Corr
0.7	PHT	PHT	Pair Corr
0.67	CLOX	Series Portfolios Trust	Pair Corr
0.63	FSST	Fidelity Sustainability	Pair Corr
0.62	FROG	Jfrog	Pair Corr
0.53	MYCI	SPDR SSGA My2029	Pair Corr
0.52	PBJA	PGIM Rock ETF	Pair Corr
0.49	SGOL	abrdn Physical Gold Sell-off Trend	Pair Corr
0.48	ZSB	USCF Sustainable Battery	Pair Corr
0.42	CPSU	Calamos SP 500	Pair Corr

Related Correlations Analysis

	XLG	SCHE	VTMFX	NOBL	HDV	ESGV	DFAS	SPTM	VPADX	VPL
XLG		0.56	0.95	0.3	-0.12	0.93	0.47	0.93	0.85	0.88	XLG
SCHE	0.56		0.47	-0.16	-0.28	0.57	0.04	0.49	0.59	0.56	SCHE
VTMFX	0.95	0.47		0.51	0.07	0.92	0.61	0.95	0.86	0.91	VTMFX
NOBL	0.3	-0.16	0.51		0.79	0.46	0.83	0.56	0.33	0.42	NOBL
HDV	-0.12	-0.28	0.07	0.79		0.02	0.49	0.11	-0.07	-0.03	HDV
ESGV	0.93	0.57	0.92	0.46	0.02		0.71	0.99	0.82	0.87	ESGV
DFAS	0.47	0.04	0.61	0.83	0.49	0.71		0.75	0.47	0.55	DFAS
SPTM	0.93	0.49	0.95	0.56	0.11	0.99	0.75		0.83	0.89	SPTM
VPADX	0.85	0.59	0.86	0.33	-0.07	0.82	0.47	0.83		0.94	VPADX
VPL	0.88	0.56	0.91	0.42	-0.03	0.87	0.55	0.89	0.94		VPL
	XLG	SCHE	VTMFX	NOBL	HDV	ESGV	DFAS	SPTM	VPADX	VPL

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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

SPTM	+ 0.99	ESGV
VTMFX	+ 0.95	XLG
SPTM	+ 0.95	VTMFX
VPL	+ 0.94	VPADX
ESGV	+ 0.93	XLG
SPTM	+ 0.93	XLG

High negative correlations

HDV	- 0.28	SCHE
NOBL	- 0.16	SCHE
HDV	- 0.12	XLG
VPADX	- 0.07	HDV
VPL	- 0.03	HDV

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
XLG	0.67	(0.01)	(0.01)	0.05	0.93	(0.63)	1.57	(1.40)	3.92
SCHE	0.61	(0.03)	(0.05)	0.02	0.87	(0.65)	1.17	(1.13)	4.39
VTMFX	0.30	(0.01)	(0.08)	0.04	0.39	(0.29)	0.59	(0.56)	1.66
NOBL	0.51	0.00	(0.03)	0.06	0.59	(0.54)	1.14	(0.92)	3.16
HDV	0.47	(0.01)	(0.08)	0.04	0.53	(0.48)	1.02	(0.82)	2.75
ESGV	0.65	(0.02)	(0.02)	0.04	1.00	(0.59)	1.37	(1.35)	3.56
DFAS	0.81	(0.03)	(0.01)	0.04	1.04	(0.78)	1.96	(1.53)	4.29
SPTM	0.59	(0.01)	(0.01)	0.05	0.87	(0.54)	1.16	(1.20)	3.32
VPADX	0.74	(0.03)	(0.03)	0.02	1.12	(0.69)	1.64	(1.69)	4.79
VPL	0.70	0.01	0.00	0.07	1.00	(0.66)	1.43	(1.42)	4.67

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