First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange Traded
DDEC Etf  USD 43.77  0.26  0.60%   
The current 90-days correlation between First Trust Exchange and FT Cboe Vest is 0.96 (i.e., Almost no 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

Very poor diversification

The correlation between First Trust Exchange Traded and DJI is 0.83 (i.e., Very poor 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.
  
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Check out Investing Opportunities 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 services.

Moving together with First Etf

  0.93INOV Innovator ETFs TrustPairCorr
  0.99BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  0.97PSEP Innovator SP 500PairCorr
  1.0PJAN Innovator SP 500PairCorr
  0.98PJUL Innovator SP 500PairCorr
  0.97PAUG Innovator Equity PowerPairCorr
  0.96DNOV FT Cboe VestPairCorr
  0.98PMAY Innovator SP 500PairCorr
  0.78WGMI Valkyrie Bitcoin MinersPairCorr
  0.84SHAG WisdomTree Yield EnhancedPairCorr
  0.86GOP Unusual Whales Subversive Symbol ChangePairCorr
  0.93ISRCF iShares V PublicPairCorr
  0.96QQQ Invesco QQQ TrustPairCorr
  0.78SLV iShares Silver TrustPairCorr
  0.9EQTYX WisdomTree Siegel GlobalPairCorr
  0.97ESGE iShares ESG AwarePairCorr
  0.92RFDA RiverFront DynamicPairCorr
  0.94FEMR Fidelity Covington TrustPairCorr
  0.95IGM iShares Expanded TechPairCorr
  0.77JNK SPDR Bloomberg HighPairCorr
  0.97BJUN Innovator SP 500PairCorr
  0.95IYW iShares Technology ETFPairCorr
  0.87PPI Investment ManagersPairCorr
  0.71AGMI Themes Silver MinersPairCorr
  0.9ICLN iShares Global Clean Sell-off TrendPairCorr
  0.97EMOP AB Active ETFs,PairCorr
  0.71WIA Western AssetClaymorePairCorr
  0.99BMAR Innovator SP 500PairCorr
  0.98JEPQ JPMorgan Nasdaq EquityPairCorr
  0.78VEMY Virtus ETF TrustPairCorr
  0.89CEMB iShares JP MorganPairCorr
  0.87EEMV iShares MSCI EmergingPairCorr
  0.87BKLN Invesco Senior LoanPairCorr
  0.76CNXT VanEck ChiNext ETFPairCorr
  0.94IXSRF IXSRFPairCorr

Moving against First Etf

  0.53VIXY ProShares VIX Short Downward RallyPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DAUG  0.24  0.00 (0.06) 0.05  0.27 
(0.24)
 0.51 
(0.40)
 1.85 
DJAN  0.23  0.01 (0.04) 0.07  0.25 
(0.23)
 0.57 
(0.40)
 1.89 
DMAR  0.14  0.00 (0.10) 0.06  0.12 
(0.15)
 0.37 
(0.29)
 1.21 
DNOV  0.22  0.05  0.07  0.17  0.00 
(0.24)
 0.53 
(0.35)
 2.07 
GFEB  0.23  0.01 (0.05) 0.06  0.26 
(0.24)
 0.52 
(0.52)
 1.89 
GSEP  0.24 (0.01)(0.07) 0.02  0.36 
(0.24)
 0.62 
(0.62)
 1.95 
DFEB  0.23  0.01 (0.04) 0.06  0.27 
(0.23)
 0.54 
(0.47)
 2.02 
DSEP  0.22 (0.01)(0.09) 0.03  0.31 
(0.23)
 0.48 
(0.45)
 1.91 
DJUL  0.22  0.00 (0.07) 0.05  0.25 
(0.22)
 0.45 
(0.45)
 1.84 
DMAY  0.18  0.00 (0.09) 0.05  0.19 
(0.20)
 0.39 
(0.34)
 1.57 

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