First Trust Correlations

FAAR Etf

USD 27.10 0.20 0.73%

The current 90-days correlation between First Trust Alternative and VanEck India Growth is -0.08 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Alternative and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Alternative 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 Alternative. 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 against First Etf

0.44	GCC	WisdomTree Continuous	Pair Corr
0.39	SIXD	AIM ETF Products	Pair Corr
0.57	SMLV	SPDR SSGA Small	Pair Corr
0.54	SLX	VanEck Steel ETF	Pair Corr
0.54	PLTM	GraniteShares Platinum Downward Rally	Pair Corr
0.53	CPSU	Calamos SP 500	Pair Corr
0.53	CPER	United States Copper	Pair Corr
0.52	SAWS	AAM Sawgrass Small	Pair Corr
0.49	FTBI	First Trust Exchange	Pair Corr
0.48	ZJAN	Innovator Equity Defined	Pair Corr
0.47	SCZ	iShares MSCI EAFE	Pair Corr
0.47	CSD	Invesco SP Spin	Pair Corr
0.46	QULL	ETRACS 2x Leveraged	Pair Corr
0.38	QQJG	Invesco ESG NASDAQ	Pair Corr
0.37	PHT	PHT	Pair Corr
0.53	AVUV	Avantis Small Cap	Pair Corr
0.48	DFAX	Dimensional World	Pair Corr
0.47	MYCI	SPDR SSGA My2029	Pair Corr
0.47	SGOL	abrdn Physical Gold	Pair Corr
0.46	HEZU	iShares Currency Hedged	Pair Corr
0.45	SCJ	iShares MSCI Japan	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.49	-0.57	0.45	-0.48	0.23	-0.19	-0.48	-0.58	META
MSFT	0.67		0.84	-0.54	0.4	-0.16	0.01	-0.36	-0.79	-0.62	MSFT
UBER	0.49	0.84		-0.59	0.55	-0.11	-0.23	-0.39	-0.86	-0.63	UBER
F	-0.57	-0.54	-0.59		-0.66	0.38	0.33	0.49	0.65	0.76	F
T	0.45	0.4	0.55	-0.66		-0.28	-0.57	-0.34	-0.46	-0.51	T
A	-0.48	-0.16	-0.11	0.38	-0.28		-0.3	-0.3	0.24	0.12	A
CRM	0.23	0.01	-0.23	0.33	-0.57	-0.3		0.47	0.18	0.27	CRM
JPM	-0.19	-0.36	-0.39	0.49	-0.34	-0.3	0.47		0.47	0.5	JPM
MRK	-0.48	-0.79	-0.86	0.65	-0.46	0.24	0.18	0.47		0.71	MRK
XOM	-0.58	-0.62	-0.63	0.76	-0.51	0.12	0.27	0.5	0.71		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

UBER	+ 0.84	MSFT
XOM	+ 0.76	F
XOM	+ 0.71	MRK
MSFT	+ 0.67	META
MRK	+ 0.65	F
T	+ 0.55	UBER

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.79	MSFT
T	- 0.66	F
XOM	- 0.63	UBER
XOM	- 0.62	MSFT
F	- 0.59	UBER

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	1.38	(0.21)	0.00	(0.16)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.88	(0.11)	0.00	(0.12)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.47	(0.33)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.46	0.09	0.06	0.13	1.68	(1.60)	3.38	(2.63)	16.30
T	0.96	(0.20)	0.00	(0.72)	0.00	0.00	1.61	(2.18)	5.75
A	1.19	0.11	0.08	0.16	1.20	(1.33)	2.34	(2.21)	11.03
CRM	1.50	0.09	0.04	0.15	1.90	(1.49)	3.66	(2.92)	9.91
JPM	1.06	(0.03)	(0.01)	0.03	1.42	(1.11)	2.00	(1.91)	7.02
MRK	1.41	0.43	0.32	0.58	0.96	(1.81)	4.85	(1.98)	11.45
XOM	0.92	0.05	0.00	0.28	0.98	(0.99)	1.96	(1.51)	4.99

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