First Trust Correlations

DALI Etf

USD 27.52 0.19 0.69%

The current 90-days correlation between First Trust Dorsey and Strategy Shares is -0.21 (i.e., Very 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.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Dorsey and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Dorsey and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

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

Moving together with First Etf

0.92	TDSC	Cabana Target Drawdown	Pair Corr
0.93	YYY	Amplify High Income	Pair Corr
0.97	FVC	First Trust Dorsey	Pair Corr
0.91	TDSB	Cabana Target Drawdown	Pair Corr
0.89	GMOM	Cambria Global Momentum	Pair Corr
0.9	AGOX	Adaptive Alpha Oppor	Pair Corr
0.98	TACK	Fairlead Tactical Sector	Pair Corr
0.85	ARKW	ARK Next Generation	Pair Corr
0.95	WTMF	WisdomTree Managed	Pair Corr
0.89	EWC	iShares MSCI Canada	Pair Corr
0.69	HUM	Humana Inc	Pair Corr
0.96	BST	BlackRock Science Tech	Pair Corr
0.71	IRET	iREIT MarketVector	Pair Corr
0.86	DD	Dupont De Nemours	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.7	MMM	3M Company	Pair Corr
0.71	PFE	Pfizer Inc	Pair Corr
0.92	JPM	JPMorgan Chase	Pair Corr
0.83	MSFT	Microsoft	Pair Corr
0.87	JNJ	Johnson Johnson	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.72	CSCO	Cisco Systems	Pair Corr
0.73	MRK	Merck Company Sell-off Trend	Pair Corr
0.78	BAC	Bank of America	Pair Corr
0.88	BA	Boeing	Pair Corr

Moving against First Etf

0.53	PG	Procter Gamble	Pair Corr
0.51	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIVD	DIVG	DIVI	DIVL	DIVO
DHSB		0.89	0.97	0.9	0.82	0.94	0.86	0.92	0.98	DHSB
MBOX	0.89		0.89	0.8	0.94	0.96	0.85	0.97	0.94	MBOX
DIEM	0.97	0.89		0.9	0.85	0.94	0.87	0.91	0.95	DIEM
MCHI	0.9	0.8	0.9		0.81	0.88	0.87	0.88	0.87	MCHI
DIVD	0.82	0.94	0.85	0.81		0.91	0.92	0.95	0.87	DIVD
DIVG	0.94	0.96	0.94	0.88	0.91		0.86	0.98	0.96	DIVG
DIVI	0.86	0.85	0.87	0.87	0.92	0.86		0.9	0.87	DIVI
DIVL	0.92	0.97	0.91	0.88	0.95	0.98	0.9		0.96	DIVL
DIVO	0.98	0.94	0.95	0.87	0.87	0.96	0.87	0.96		DIVO
	DHSB	MBOX	DIEM	MCHI	DIVD	DIVG	DIVI	DIVL	DIVO

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
DHSB	0.12	0.02	(0.52)	0.21	0.00	(0.16)	0.32	(0.16)	0.88
MBOX	0.50	0.00	(0.03)	0.11	0.45	(0.55)	1.16	(0.94)	2.46
DIEM	0.54	0.06	0.04	0.21	0.39	(0.61)	1.23	(1.02)	3.43
MCHI	0.87	0.13	0.10	0.30	0.78	(1.04)	2.03	(1.68)	5.71
DIVD	0.57	(0.02)	(0.04)	0.09	0.68	(0.55)	1.22	(1.11)	3.32
DIVG	0.55	0.01	(0.01)	0.12	0.53	(0.60)	1.07	(1.04)	2.73
DIVI	0.63	(0.03)	(0.05)	0.08	0.71	(0.62)	1.25	(1.20)	3.95
DIVL	0.44	0.01	(0.05)	0.12	0.35	(0.48)	1.09	(0.79)	2.78
DIVO	0.38	0.02	(0.04)	0.13	0.27	(0.44)	0.86	(0.80)	2.00

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