First Trust Correlations

FAD Etf

USD 169.47 0.36 0.21%

The current 90-days correlation between First Trust Multi and First Trust Consumer is 0.06 (i.e., Significant 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

Almost no diversification

The correlation between First Trust Multi and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Multi 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 Multi. 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

0.62	IWP	iShares Russell Mid	Pair Corr
0.95	IJK	iShares SP Mid	Pair Corr
0.83	JKH	iShares Morningstar Mid	Pair Corr
0.92	KOMP	SPDR Kensho New	Pair Corr
0.95	MDYG	SPDR SP 400	Pair Corr
0.95	IMCG	iShares Morningstar Mid	Pair Corr
0.94	ARKQ	ARK Autonomous Technology	Pair Corr
0.92	CPST	Calamos ETF Trust	Pair Corr
0.85	ITDD	iShares Trust	Pair Corr
0.93	MART	Allianzim Large Cap	Pair Corr
0.99	VBK	Vanguard Small Cap	Pair Corr
0.9	GAPR	First Trust Exchange	Pair Corr
0.67	RDIV	Invesco SP Ultra	Pair Corr
0.85	SEIX	Virtus ETF Trust	Pair Corr
0.95	OASC	OneAscent Small Cap	Pair Corr
0.83	BINC	BlackRock ETF Trust	Pair Corr
0.86	AHYB	American Century ETF	Pair Corr
0.75	INTC	Intel	Pair Corr
0.87	BA	Boeing	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.71	WMT	Walmart Common Stock	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.64	HD	Home Depot	Pair Corr

Moving against First Etf

0.72	MPAY	Exchange Traded Concepts	Pair Corr
0.58	HPQ	HP Inc Aggressive Push	Pair Corr
0.45	MSFT	Microsoft Sell-off Trend	Pair Corr

Related Correlations Analysis

	FEP	FNY	CDL	DAUG	DDEC	PKB	GJAN	QMOM	DJAN	FXD
FEP		0.86	0.89	0.91	0.89	0.86	0.92	0.89	0.92	0.82	FEP
FNY	0.86		0.71	0.92	0.89	0.85	0.91	0.96	0.9	0.86	FNY
CDL	0.89	0.71		0.72	0.68	0.91	0.72	0.75	0.72	0.64	CDL
DAUG	0.91	0.92	0.72		0.98	0.79	0.99	0.89	0.99	0.88	DAUG
DDEC	0.89	0.89	0.68	0.98		0.71	0.99	0.84	0.99	0.92	DDEC
PKB	0.86	0.85	0.91	0.79	0.71		0.76	0.87	0.75	0.7	PKB
GJAN	0.92	0.91	0.72	0.99	0.99	0.76		0.87	1.0	0.9	GJAN
QMOM	0.89	0.96	0.75	0.89	0.84	0.87	0.87		0.87	0.79	QMOM
DJAN	0.92	0.9	0.72	0.99	0.99	0.75	1.0	0.87		0.9	DJAN
FXD	0.82	0.86	0.64	0.88	0.92	0.7	0.9	0.79	0.9		FXD
	FEP	FNY	CDL	DAUG	DDEC	PKB	GJAN	QMOM	DJAN	FXD

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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
FEP	0.65	0.17	0.16	0.31	0.54	(0.73)	1.66	(1.41)	3.77
FNY	0.99	(0.01)	0.00	0.07	1.11	(1.03)	1.94	(2.04)	4.61
CDL	0.50	0.14	0.17	0.43	0.16	(0.60)	1.21	(0.89)	2.59
DAUG	0.24	(0.01)	(0.17)	0.07	0.29	(0.24)	0.47	(0.61)	1.70
DDEC	0.25	0.01	(0.13)	0.10	0.28	(0.26)	0.61	(0.47)	2.13
PKB	1.11	0.07	0.07	0.13	1.22	(1.14)	2.49	(2.14)	5.31
GJAN	0.22	0.01	(0.14)	0.10	0.26	(0.23)	0.52	(0.52)	1.74
QMOM	1.17	0.00	0.00	0.08	1.56	(1.11)	1.99	(3.31)	6.14
DJAN	0.23	0.01	(0.13)	0.11	0.26	(0.23)	0.60	(0.51)	2.07
FXD	0.94	0.14	0.06	4.03	0.86	(1.09)	2.05	(1.65)	5.66

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