First Trust Correlations

CRPT Etf

USD 14.92 0.44 2.86%

The current 90-days correlation between First Trust SkyBridge and Lattice Strategies Trust is 0.06 (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

Very weak diversification

The correlation between First Trust SkyBridge and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust SkyBridge 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 SkyBridge. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with First Etf

0.76	BLOK	Amplify Transformational	Pair Corr
0.66	BLCN	Siren Nasdaq NexGen	Pair Corr
0.62	BITQ	Bitwise Funds Trust	Pair Corr
0.68	DAPP	VanEck Digital Trans	Pair Corr
0.68	FDIG	Fidelity Crypto Industry	Pair Corr
0.66	BITS	Global X Blockchain	Pair Corr
0.63	IBLC	iShares Blockchain and	Pair Corr
0.82	ARKW	ARK Next Generation	Pair Corr

Moving against First Etf

0.61	BME	BlackRock Health Sciences	Pair Corr
0.51	OIH	VanEck Oil Services	Pair Corr
0.48	BKLN	Invesco Senior Loan	Pair Corr
0.34	PDBC	Invesco Optimum Yield	Pair Corr
0.33	ILIT	iShares Lithium Miners	Pair Corr

Related Correlations Analysis

	HDUS	SMIZ	GSC	CPAI	ERTH	GOAU	LSAF	ELCV	INTL	IQSZ
HDUS		0.58	0.04	0.89	0.91	0.4	0.28	0.7	0.92	0.98	HDUS
SMIZ	0.58		0.76	0.68	0.62	0.28	0.79	0.71	0.66	0.51	SMIZ
GSC	0.04	0.76		0.1	0.08	-0.14	0.82	0.3	0.13	-0.02	GSC
CPAI	0.89	0.68	0.1		0.92	0.64	0.38	0.85	0.92	0.88	CPAI
ERTH	0.91	0.62	0.08	0.92		0.54	0.35	0.82	0.93	0.92	ERTH
GOAU	0.4	0.28	-0.14	0.64	0.54		0.08	0.62	0.59	0.45	GOAU
LSAF	0.28	0.79	0.82	0.38	0.35	0.08		0.58	0.36	0.24	LSAF
ELCV	0.7	0.71	0.3	0.85	0.82	0.62	0.58		0.8	0.69	ELCV
INTL	0.92	0.66	0.13	0.92	0.93	0.59	0.36	0.8		0.93	INTL
IQSZ	0.98	0.51	-0.02	0.88	0.92	0.45	0.24	0.69	0.93		IQSZ
	HDUS	SMIZ	GSC	CPAI	ERTH	GOAU	LSAF	ELCV	INTL	IQSZ

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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

IQSZ	+ 0.98	HDUS
INTL	+ 0.93	ERTH
IQSZ	+ 0.93	INTL
INTL	+ 0.92	HDUS
ERTH	+ 0.92	CPAI
INTL	+ 0.92	CPAI

High negative correlations

GOAU	- 0.14	GSC
IQSZ	- 0.02	GSC

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
HDUS	0.51	0.03	(0.02)	(2.42)	0.74	(0.49)	1.08	(1.04)	3.41
SMIZ	0.75	(0.01)	0.00	0.07	0.00	0.00	1.58	(1.81)	4.44
GSC	0.87	(0.02)	0.00	0.11	0.00	0.00	1.72	(1.49)	5.34
CPAI	0.76	0.06	0.01	(0.27)	1.03	(0.79)	1.86	(2.00)	5.53
ERTH	0.77	0.00	(0.04)	0.07	1.15	(0.74)	1.70	(1.99)	5.21
GOAU	1.99	0.25	0.06	(0.66)	3.16	(2.00)	4.39	(4.88)	14.40
LSAF	0.67	(0.03)	0.00	1.10	0.00	0.00	1.42	(1.44)	4.15
ELCV	0.51	0.00	(0.05)	0.13	0.67	(0.61)	1.04	(1.02)	3.82
INTL	0.57	0.01	(0.03)	1.24	0.79	(0.55)	0.97	(1.17)	3.79
IQSZ	0.53	0.04	0.00	(1.33)	0.84	(0.50)	1.10	(1.31)	3.77

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