First Trust Correlations

FCT Etf

USD 9.54 0.01 0.10%

The current 90-days correlation between First Trust Senior and Franklin Templeton Limited is 0.15 (i.e., Average 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

Modest diversification

The correlation between First Trust Senior and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Senior 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 Senior. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with First Etf

0.81

FIEE

FiEE, Inc Symbol Change

Pair Corr

Moving against First Etf

0.84	DIVI	Franklin International	Pair Corr
0.83	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.82	IXN	iShares Global Tech	Pair Corr
0.82	QSIX	Pacer Metarus Nasdaq	Pair Corr
0.81	ESGE	iShares ESG Aware	Pair Corr
0.81	ITM	VanEck Intermediate Muni	Pair Corr
0.79	GQQQ	Astoria Quality Growth	Pair Corr
0.79	TEC	Harbor ETF Trust	Pair Corr
0.78	MAPP	Harbor ETF Trust	Pair Corr
0.78	NACP	Impact Shares NAACP	Pair Corr
0.77	VEMY	Virtus ETF Trust	Pair Corr
0.76	BUCK	Simplify Stable Income	Pair Corr
0.74	DIHP	Dimensional International Low Volatility	Pair Corr
0.71	WNTR	YieldMax MSTR Short	Pair Corr
0.71	DFSU	Dimensional Sustainability	Pair Corr
0.69	LENS	Sarmaya Thematic ETF	Pair Corr
0.65	YFFI	Spinnaker ETF Series	Pair Corr
0.64	TMFE	Motley Fool Capital	Pair Corr
0.62	ASA	ASA Gold	Pair Corr
0.61	URA	Global X Uranium	Pair Corr
0.6	JUNE	JUNE Symbol Change	Pair Corr
0.43	MCHI	iShares MSCI China Sell-off Trend	Pair Corr
0.39	XOMO	Yieldmax XOM Option	Pair Corr
0.32	PRME	Prime Medicine, Common	Pair Corr
0.82	JADE	JP Morgan Exchange	Pair Corr
0.82	NSI	National Security	Pair Corr
0.81	ISVAF	iShares VII Public	Pair Corr
0.8	VEA	Vanguard FTSE Developed	Pair Corr
0.79	XLII	Select Sector SPDR	Pair Corr
0.79	VHT	Vanguard Health Care	Pair Corr
0.79	NVBU	AllianzIM Equity Buffer15	Pair Corr
0.78	DFAI	Dimensional International	Pair Corr
0.78	SPY	SPDR SP 500	Pair Corr
0.78	BLCR	BlackRock Large Cap	Pair Corr
0.77	VYMI	Vanguard International	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.02	0.08	-0.71	0.77	-0.73	-0.25	-0.52	-0.5	-0.52	META
MSFT	0.02		0.14	0.23	-0.42	0.33	0.05	-0.01	0.23	-0.04	MSFT
UBER	0.08	0.14		0.03	0.09	-0.05	0.03	0.46	-0.15	0.29	UBER
F	-0.71	0.23	0.03		-0.76	0.8	0.37	0.5	0.57	0.67	F
T	0.77	-0.42	0.09	-0.76		-0.9	-0.27	-0.38	-0.58	-0.48	T
A	-0.73	0.33	-0.05	0.8	-0.9		0.32	0.46	0.69	0.6	A
CRM	-0.25	0.05	0.03	0.37	-0.27	0.32		0.02	0.1	0.37	CRM
JPM	-0.52	-0.01	0.46	0.5	-0.38	0.46	0.02		0.06	0.75	JPM
MRK	-0.5	0.23	-0.15	0.57	-0.58	0.69	0.1	0.06		0.29	MRK
XOM	-0.52	-0.04	0.29	0.67	-0.48	0.6	0.37	0.75	0.29		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

A	+ 0.8	F
T	+ 0.77	META
XOM	+ 0.75	JPM
MRK	+ 0.69	A
XOM	+ 0.67	F
XOM	+ 0.6	A

High negative correlations

A	- 0.9	T
T	- 0.76	F
A	- 0.73	META
F	- 0.71	META
MRK	- 0.58	T
XOM	- 0.52	META

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	1.29	(0.50)	0.00	(0.37)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.78	(0.06)	0.00	(0.30)	0.00	0.00	1.85	(1.98)	5.08
UBER	1.43	(0.07)	(0.04)	0.04	1.81	(1.52)	3.34	(2.71)	9.09
F	1.37	0.12	0.11	0.19	1.44	(1.62)	3.66	(1.73)	16.30
T	0.97	(0.15)	0.00	12.00	0.00	0.00	1.82	(2.32)	6.25
A	1.31	0.25	0.21	0.31	0.93	(1.48)	3.82	(2.04)	10.46
CRM	1.56	0.14	(0.01)	(0.19)	2.15	(1.52)	3.59	(3.61)	9.91
JPM	0.80	0.04	0.02	0.17	0.98	(0.80)	1.67	(1.74)	4.74
MRK	1.24	0.11	0.08	0.23	1.13	(1.48)	3.01	(2.36)	11.45
XOM	0.89	0.12	0.04	0.40	1.03	(0.88)	1.77	(1.93)	4.70

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