First Trust Correlations

FDTS Etf

USD 69.12 0.79 1.16%

The current 90-days correlation between First Trust Developed and ProShares MSCI Europe is 0.08 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Developed and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Developed 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 Developed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with First Etf

1.0	FNDC	Schwab Fundamental	Pair Corr
0.99	AVDV	Avantis International	Pair Corr
0.99	DLS	WisdomTree International	Pair Corr
0.99	PDN	Invesco FTSE RAFI	Pair Corr
0.99	DISV	Dimensional ETF Trust Low Volatility	Pair Corr
0.98	ISVL	iShares International	Pair Corr
0.98	DIM	WisdomTree International	Pair Corr
0.98	DDLS	WisdomTree Dynamic	Pair Corr
0.99	FYLD	Cambria Foreign Shar	Pair Corr
0.99	CGV	Two Roads Shared	Pair Corr
0.76	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.74	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.74	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.71	BND	Vanguard Total Bond	Pair Corr
0.97	VTV	Vanguard Value Index	Pair Corr
0.85	VO	Vanguard Mid Cap	Pair Corr
0.99	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.91	VB	Vanguard Small Cap	Pair Corr
0.92	VWO	Vanguard FTSE Emerging	Pair Corr
0.96	IBMR	iShares Trust	Pair Corr
0.92	THD	iShares MSCI Thailand	Pair Corr
0.95	IAUM	iShares Gold Trust	Pair Corr
0.94	YLD	Principal Active High	Pair Corr
0.96	BBEU	JPMorgan BetaBuilders	Pair Corr
0.91	RDIV	Invesco SP Ultra	Pair Corr
0.79	VBK	Vanguard Small Cap	Pair Corr
0.94	VUSB	Vanguard Ultra Short Sell-off Trend	Pair Corr
0.89	AHYB	American Century ETF	Pair Corr
0.92	SPMD	SPDR Russell Small	Pair Corr
0.64	SEIX	Virtus ETF Trust	Pair Corr
0.82	EDEN	iShares MSCI Denmark	Pair Corr
0.88	MART	Allianzim Large Cap	Pair Corr
0.85	OASC	OneAscent Small Cap	Pair Corr
0.88	GAPR	First Trust Exchange	Pair Corr
0.97	ABI	VictoryShares Pioneer	Pair Corr
0.95	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.91	GSIG	Goldman Sachs Access	Pair Corr
0.94	DBJP	Xtrackers MSCI Japan	Pair Corr
0.71	IEO	iShares Oil Gas Low Volatility	Pair Corr

Moving against First Etf

0.31

VUG

Vanguard Growth Index

Pair Corr

Related Correlations Analysis

	FLYU	EMIF	JHDV	BDVG	NBCE	CLIX	HAUS	RFEU	EAOK	EUDV
FLYU		-0.05	0.25	0.18	0.23	0.52	0.23	0.09	0.37	0.34	FLYU
EMIF	-0.05		0.91	0.89	0.85	-0.5	0.6	0.86	0.81	0.78	EMIF
JHDV	0.25	0.91		0.88	0.92	-0.23	0.63	0.85	0.93	0.89	JHDV
BDVG	0.18	0.89	0.88		0.79	-0.52	0.67	0.8	0.86	0.82	BDVG
NBCE	0.23	0.85	0.92	0.79		-0.11	0.62	0.9	0.9	0.91	NBCE
CLIX	0.52	-0.5	-0.23	-0.52	-0.11		-0.27	-0.25	-0.08	-0.06	CLIX
HAUS	0.23	0.6	0.63	0.67	0.62	-0.27		0.67	0.65	0.57	HAUS
RFEU	0.09	0.86	0.85	0.8	0.9	-0.25	0.67		0.85	0.86	RFEU
EAOK	0.37	0.81	0.93	0.86	0.9	-0.08	0.65	0.85		0.96	EAOK
EUDV	0.34	0.78	0.89	0.82	0.91	-0.06	0.57	0.86	0.96		EUDV
	FLYU	EMIF	JHDV	BDVG	NBCE	CLIX	HAUS	RFEU	EAOK	EUDV

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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

EUDV	+ 0.96	EAOK
EAOK	+ 0.93	JHDV
NBCE	+ 0.92	JHDV
JHDV	+ 0.91	EMIF
EUDV	+ 0.91	NBCE
RFEU	+ 0.9	NBCE

High negative correlations

CLIX	- 0.52	BDVG
CLIX	- 0.5	EMIF
HAUS	- 0.27	CLIX
RFEU	- 0.25	CLIX
CLIX	- 0.23	JHDV
CLIX	- 0.11	NBCE

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
FLYU	3.41	(0.28)	0.00	0.03	4.31	(3.34)	6.77	(8.01)	17.41
EMIF	0.72	0.21	0.21	0.65	0.37	(0.88)	1.85	(1.34)	3.89
JHDV	0.53	0.05	0.03	0.16	0.61	(0.55)	1.05	(1.28)	2.97
BDVG	0.50	0.14	0.07	(2.33)	0.37	(0.58)	1.18	(0.86)	2.91
NBCE	0.78	0.09	0.03	0.34	0.82	(0.82)	1.59	(1.44)	4.16
CLIX	0.94	(0.24)	0.00	(0.34)	0.00	0.00	1.89	(2.23)	5.92
HAUS	0.69	0.08	0.03	0.28	0.65	(0.75)	1.48	(1.15)	3.86
RFEU	0.41	0.09	(0.02)	(1.33)	0.32	(0.56)	0.94	(0.86)	2.44
EAOK	0.21	0.03	(0.19)	0.61	0.17	(0.25)	0.48	(0.44)	1.35
EUDV	0.63	0.09	(0.02)	(0.48)	0.80	(0.61)	1.25	(1.33)	3.38

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