First Trust Correlations

Etfs . USA . 
Etf . First Trust STOXX
FDD Etf  USD 16.42  0.25  1.50%   
The current 90-days correlation between First Trust STOXX and First Trust Dorsey is 0.41 (i.e., Very weak 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

Very weak diversification

The correlation between First Trust STOXX and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust STOXX and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust STOXX. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in banks.

Moving together with First Etf

  0.9VGK Vanguard FTSE EuropePairCorr
  0.92EZU iShares MSCI EurozonePairCorr
  0.89BBEU JPMorgan BetaBuildersPairCorr
  0.81IEUR iShares Core MSCIPairCorr
  0.8FEZ SPDR EURO STOXXPairCorr
  0.78IEV iShares Europe ETFPairCorr
  0.67DBEU Xtrackers MSCI EuropePairCorr
  0.65HEZU iShares Currency HedgedPairCorr
  0.96FEP First Trust EuropePairCorr
  0.79ARKW ARK Next Generation Potential GrowthPairCorr
  0.9WTMF WisdomTree ManagedPairCorr
  0.9EWC iShares MSCI CanadaPairCorr
  0.78HUM Humana IncPairCorr
  0.84BST BlackRock Science TechPairCorr
  0.69IRET iREIT MarketVectorPairCorr
  0.9SSEUF SSgA SPDR ETFsPairCorr
  0.85TNA Direxion Daily Small Aggressive PushPairCorr
  0.8WTTSX Wisdomtree Digital TrustPairCorr
  0.9IWV iShares Russell 3000PairCorr
  0.9SIXD AIM ETF ProductsPairCorr
  0.9SFYF SoFi Social 50PairCorr
  0.76GSFP Goldman Sachs FuturePairCorr
  0.88MDLV EA Series TrustPairCorr
  0.67VTEB Vanguard Tax Exempt Sell-off TrendPairCorr
  0.83SPRX Spear Alpha ETFPairCorr
  0.82SPTI SPDR Portfolio InterPairCorr
  0.82DRSK Aptus Defined RiskPairCorr
  0.75PLTG Leverage Shares 2XPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DVLU  0.63  0.00 (0.02) 0.11  0.61 
(0.74)
 1.35 
(1.06)
 3.24 
FDTS  0.64  0.25  0.18  25.91  0.38 
(0.74)
 1.67 
(1.16)
 4.26 
FPXI  0.72  0.08  0.07  0.23  0.56 
(0.84)
 1.60 
(1.19)
 3.68 
SHRY  0.54 (0.04)(0.12) 0.05  0.51 
(0.65)
 1.14 
(0.90)
 2.89 
JEPQ  0.35  0.07  0.04  0.25  0.15 
(0.41)
 1.06 
(0.69)
 2.66 
ARKW  1.41  0.27  0.18  0.31  1.29 
(1.59)
 3.64 
(2.14)
 11.73 
HDEF  0.51  0.11  0.00  2.32  0.50 
(0.56)
 1.00 
(1.00)
 3.25 
QABA  1.16  0.14  0.01 (0.63) 1.17 
(1.40)
 2.61 
(2.00)
 6.85 
XDEC  0.20  0.07 (0.19)(0.49) 0.00 
(0.24)
 0.55 
(0.34)
 1.49 
VRNIX  0.51  0.05  0.06  0.17  0.25 
(0.56)
 1.19 
(0.77)
 3.68 

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