First Trust Correlations

DJAN Etf

USD 41.56 0.06 0.14%

The current 90-days correlation between First Trust Exchange and First Trust Exchange Traded is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Exchange Traded moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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.

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 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 nation.

Moving together with First Etf

0.9	INOV	Innovator ETFs Trust	Pair Corr
1.0	BUFR	First Trust Cboe	Pair Corr
1.0	BUFD	FT Cboe Vest	Pair Corr
1.0	PSEP	Innovator SP 500	Pair Corr
1.0	PJAN	Innovator SP 500	Pair Corr
0.99	PJUL	Innovator SP 500	Pair Corr
1.0	PAUG	Innovator Equity Power	Pair Corr
1.0	DNOV	FT Cboe Vest	Pair Corr
1.0	PMAY	Innovator SP 500	Pair Corr
1.0	PJUN	Innovator SP 500	Pair Corr
0.95	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.88	PMBS	PIMCO Mortgage Backed	Pair Corr
0.92	ITWO	Proshares Russell 2000	Pair Corr
0.68	JPM	JPMorgan Chase	Pair Corr
0.65	CVX	Chevron Corp	Pair Corr
0.65	BA	Boeing	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr

Moving against First Etf

0.46	PG	Procter Gamble	Pair Corr
0.36	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.85	0.35	0.67	0.56	-0.04	-0.73	0.72	0.52	0.24	META
MSFT	0.85		0.36	0.7	0.31	-0.08	-0.63	0.89	0.59	0.37	MSFT
UBER	0.35	0.36		0.71	0.4	0.59	-0.11	0.53	0.52	0.25	UBER
F	0.67	0.7	0.71		0.54	0.33	-0.43	0.81	0.82	0.54	F
T	0.56	0.31	0.4	0.54		0.35	-0.44	0.38	0.56	0.09	T
A	-0.04	-0.08	0.59	0.33	0.35		0.24	0.11	0.32	0.16	A
CRM	-0.73	-0.63	-0.11	-0.43	-0.44	0.24		-0.4	-0.35	-0.01	CRM
JPM	0.72	0.89	0.53	0.81	0.38	0.11	-0.4		0.72	0.5	JPM
MRK	0.52	0.59	0.52	0.82	0.56	0.32	-0.35	0.72		0.63	MRK
XOM	0.24	0.37	0.25	0.54	0.09	0.16	-0.01	0.5	0.63		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	MSFT
MSFT	+ 0.85	META
MRK	+ 0.82	F
JPM	+ 0.81	F
JPM	+ 0.72	META
MRK	+ 0.72	JPM

High negative correlations

CRM	- 0.73	META
CRM	- 0.63	MSFT
CRM	- 0.44	T
CRM	- 0.43	F
JPM	- 0.4	CRM
MRK	- 0.35	CRM

First Trust Competition 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
META	1.35	0.16	0.11	0.30	1.13	(1.64)	3.16	(2.27)	14.28
MSFT	0.71	0.22	0.09	(0.46)	0.57	(0.83)	1.80	(1.42)	5.71
UBER	1.34	0.14	0.07	0.35	1.40	(1.46)	2.72	(1.97)	11.37
F	1.28	0.08	0.06	0.17	1.49	(1.27)	2.55	(2.36)	7.46
T	0.76	0.06	(0.01)	0.24	0.93	(0.78)	1.75	(1.96)	5.41
A	1.42	0.03	0.04	0.12	1.63	(1.50)	3.24	(2.46)	9.19
CRM	1.23	(0.26)	0.00	(0.10)	0.00	0.00	2.63	(3.19)	6.27
JPM	0.82	0.25	0.10	(0.55)	0.84	(0.92)	1.78	(1.36)	5.19
MRK	1.16	0.11	0.02	0.52	1.45	(1.12)	2.90	(2.36)	7.79
XOM	0.99	0.16	0.03	(1.40)	1.24	(1.01)	2.14	(2.07)	6.25

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