First Trust Correlations

ETP Etf

CAD 18.58 0.05 0.27%

The current 90-days correlation between First Trust Global and Purpose Monthly Income is -0.15 (i.e., Good diversification).Understanding First Trust's pairwise correlations with sector peers is a useful first step in identifying truly differentiated exposure within an investment portfolio.

First Trust Market Correlation Overview

Significant diversification

For the present investment horizon, the measured correlation between ETP and DJI stands at 0.04, or Significant diversification. The cleaner interpretation is to review correlation beside volatility, expected return, and the role each holding plays in the portfolio.

Correlation data for First Trust reflects how it moves relative to similar exposures. The dataset reflects observed co-movement patterns from historical price data. Some regulatory frameworks restrict replacement of substantially identical instruments.

Moving together with First Etf

0.75	VRIF	Vanguard Retirement	Pair Corr
0.73	VCIP	Vanguard Conservative	Pair Corr
0.73	XINC	iShares Core Income	Pair Corr
0.79	MCON	Mackenzie Conservative	Pair Corr
0.64	ZCON	BMO Conservative ETF	Pair Corr
0.79	TOCC	TD One Click	Pair Corr
0.79	XIU	iShares SAMPPTSX	Pair Corr
0.83	XIC	iShares Core SAMPPTSX	Pair Corr
0.81	ZAG	BMO Aggregate Bond	Pair Corr
0.8	XBB	iShares Canadian Universe	Pair Corr
0.83	ZCN	BMO SAMPPTSX Capped	Pair Corr
0.75	TCLB	TD Canadian Long	Pair Corr
0.83	ZEB	BMO SAMPPTSX Equal	Pair Corr
0.93	CRED-U	CI Alternative Investment	Pair Corr
0.89	XEI	iShares SAMPPTSX	Pair Corr
0.92	TLV	Invesco SAMPPTSX	Pair Corr
0.79	XUT	iShares SAMPPTSX Capped	Pair Corr
0.86	UCSH-U	Global X USD	Pair Corr
0.82	HEU	BetaPro SAMPP TSX	Pair Corr
0.93	NTGE	NBI Target 2030	Pair Corr
0.81	FINT	First Trust International	Pair Corr
0.96	DXN	Dynamic Active Global	Pair Corr
0.89	ZWU	BMO Covered Call	Pair Corr

Moving against First Etf

0.36	ZSP	BMO SAMPP 500	Pair Corr
0.35	VFV	Vanguard SAMPP 500	Pair Corr

Related Correlations Analysis

	ZWQT	PHR	RPDH	CNDI	BLOV	CNCL	FHH	FCUH	PIN
ZWQT		0.8	0.9	-0.81	0.78	0.73	0.03	0.66	0.86	ZWQT
PHR	0.8		0.83	-0.83	0.76	0.75	-0.03	0.61	0.87	PHR
RPDH	0.9	0.83		-0.81	0.94	0.74	-0.3	0.81	0.97	RPDH
CNDI	-0.81	-0.83	-0.81		-0.73	-0.96	-0.05	-0.56	-0.82	CNDI
BLOV	0.78	0.76	0.94	-0.73		0.67	-0.48	0.91	0.96	BLOV
CNCL	0.73	0.75	0.74	-0.96	0.67		0.04	0.5	0.75	CNCL
FHH	0.03	-0.03	-0.3	-0.05	-0.48	0.04		-0.47	-0.31	FHH
FCUH	0.66	0.61	0.81	-0.56	0.91	0.5	-0.47		0.86	FCUH
PIN	0.86	0.87	0.97	-0.82	0.96	0.75	-0.31	0.86		PIN
	ZWQT	PHR	RPDH	CNDI	BLOV	CNCL	FHH	FCUH	PIN

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

PIN	+ 0.97	RPDH
PIN	+ 0.96	BLOV
BLOV	+ 0.94	RPDH
FCUH	+ 0.91	BLOV
RPDH	+ 0.9	ZWQT
PIN	+ 0.87	PHR

High negative correlations

CNCL	- 0.96	CNDI
CNDI	- 0.83	PHR
PIN	- 0.82	CNDI
CNDI	- 0.81	RPDH
CNDI	- 0.81	ZWQT
BLOV	- 0.73	CNDI

First Trust Constituents Risk-Adjusted Indicators

Evaluating First Etf requires separating price momentum from underlying business quality relative to competitors. 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
ZWQT	0.48	0.05	0.12	0.00	0.64	-0.47	0.91	-1.10	2.85
PHR	0.63	0.09	0.18	-0.59	0.85	-0.66	1.15	-1.17	5.81
RPDH	0.54	0.12	0.20	0.42	0.69	-0.63	1.47	-1.24	4.80
CNDI	0.63	-0.08	0.00	0.06	0.00	0.00	1.67	-1.08	4.76
BLOV	0.40	0.09	0.33	0.90	0.30	-0.47	0.92	-0.77	2.65
CNCL	0.68	0.05	0.08	0.01	1.00	-0.71	1.60	-1.65	4.57
FHH	0.78	-0.07	0.00	-0.35	0.00	0.00	1.23	-1.60	5.62
FCUH	0.46	0.03	0.13	0.17	0.68	-0.47	0.96	-0.98	3.09
PIN	0.31	0.07	0.31	0.38	0.28	-0.36	0.63	-0.66	2.43

Be your own money manager

A disciplined portfolio workflow around First Trust Global should test whether the position strengthens diversification, return efficiency, and overall portfolio fit. The better process compares expected return, volatility, and correlation before the position is increased or introduced.

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