First Trust Correlations

CIBR Etf

USD 68.34 1.21 1.80%

The current 90-days correlation between First Trust NASDAQ and Vanguard FTSE Pacific is 0.04 (i.e., Significant 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

Excellent diversification

The correlation between First Trust NASDAQ and DJI is -0.54 (i.e., Excellent 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

0.94	IGV	iShares Expanded Tech	Pair Corr
0.68	BULZ	MicroSectors Solactive	Pair Corr
0.92	FNGO	MicroSectors FANG Index	Pair Corr

Moving against First Etf

0.76	RDIV	Invesco SP Ultra	Pair Corr
0.68	AHYB	American Century ETF	Pair Corr
0.57	GGLL	Direxion Daily GOOGL	Pair Corr
0.5	SOXX	iShares Semiconductor ETF	Pair Corr
0.43	JNUG	Direxion Daily Junior	Pair Corr
0.42	NUGT	Direxion Daily Gold	Pair Corr
0.41	SMH	VanEck Semiconductor ETF	Pair Corr
0.83	JNJ	Johnson Johnson	Pair Corr
0.8	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.75	CVX	Chevron Corp	Pair Corr
0.75	KO	Coca Cola Earnings Call Next Week	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.69	VZ	Verizon Communications Aggressive Push	Pair Corr
0.64	PFE	Pfizer Inc	Pair Corr
0.61	INTC	Intel	Pair Corr
0.6	BA	Boeing	Pair Corr
0.58	MCD	McDonalds Earnings Call This Week	Pair Corr
0.57	CSCO	Cisco Systems Earnings Call Tomorrow	Pair Corr
0.54	BINC	BlackRock ETF Trust	Pair Corr
0.43	T	ATT Inc Sell-off Trend	Pair Corr
0.37	TRV	The Travelers Companies	Pair Corr
0.35	HD	Home Depot	Pair Corr

Related Correlations Analysis

	XLG	SCHE	VTMFX	NOBL	HDV	ESGV	DFAS	SPTM	VPADX	VPL
XLG		0.01	0.46	-0.02	-0.1	0.79	0.09	0.57	0.05	0.03	XLG
SCHE	0.01		0.59	0.87	0.84	0.37	0.82	0.52	0.96	0.96	SCHE
VTMFX	0.46	0.59		0.55	0.44	0.88	0.64	0.99	0.59	0.57	VTMFX
NOBL	-0.02	0.87	0.55		0.95	0.32	0.93	0.49	0.95	0.96	NOBL
HDV	-0.1	0.84	0.44	0.95		0.17	0.79	0.37	0.92	0.93	HDV
ESGV	0.79	0.37	0.88	0.32	0.17		0.47	0.94	0.38	0.36	ESGV
DFAS	0.09	0.82	0.64	0.93	0.79	0.47		0.61	0.9	0.9	DFAS
SPTM	0.57	0.52	0.99	0.49	0.37	0.94	0.61		0.53	0.52	SPTM
VPADX	0.05	0.96	0.59	0.95	0.92	0.38	0.9	0.53		1.0	VPADX
VPL	0.03	0.96	0.57	0.96	0.93	0.36	0.9	0.52	1.0		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

VPL	+ 1.0	VPADX
SPTM	+ 0.99	VTMFX
VPADX	+ 0.96	SCHE
VPL	+ 0.96	SCHE
VPL	+ 0.96	NOBL
HDV	+ 0.95	NOBL

High negative correlations

HDV	- 0.1	XLG
NOBL	- 0.02	XLG

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	0.61	(0.05)	0.00	5.43	0.00	0.00	1.11	(1.51)	4.45
SCHE	0.60	0.09	0.00	(2.55)	0.62	(0.68)	1.33	(1.12)	4.51
VTMFX	0.28	0.02	(0.18)	(8.94)	0.34	(0.29)	0.55	(0.57)	1.83
NOBL	0.55	0.17	0.12	(1.44)	0.31	(0.68)	1.37	(0.86)	3.16
HDV	0.50	0.21	0.20	(1.38)	0.00	(0.58)	1.38	(0.71)	2.62
ESGV	0.63	(0.01)	0.00	0.83	0.00	0.00	1.14	(1.39)	3.75
DFAS	0.79	0.20	0.10	(0.90)	0.67	(0.89)	2.31	(1.44)	4.40
SPTM	0.58	0.02	(0.08)	6.59	0.78	(0.58)	1.18	(1.20)	3.47
VPADX	0.70	0.24	0.15	(8.89)	0.59	(0.75)	1.69	(1.41)	3.22
VPL	0.72	0.23	0.14	4.72	0.70	(0.80)	1.74	(1.42)	3.36

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