First Trust Correlations

FEX Etf

USD 116.55 1.31 1.14%

The current 90-days correlation between First Trust Large and First Trust Large is 0.84 (i.e., Very poor 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

Almost no diversification

The correlation between First Trust Large and DJI is 0.91 (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 Large 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 Large. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in commodities.

Moving together with First Etf

0.97	VTI	Vanguard Total Stock	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.97	VIG	Vanguard Dividend	Pair Corr
0.96	VV	Vanguard Large Cap	Pair Corr
0.95	RSP	Invesco SP 500	Pair Corr
0.96	IWB	iShares Russell 1000	Pair Corr
0.96	ESGU	iShares ESG Aware	Pair Corr
0.99	DFAC	Dimensional Core Equity	Pair Corr
0.96	SPLG	SPDR Portfolio SP	Pair Corr
0.75	USD	ProShares Ultra Semi	Pair Corr
0.83	BULZ	MicroSectors Solactive	Pair Corr
0.75	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.89	FNGO	MicroSectors FANG Index	Pair Corr
0.85	GDXU	MicroSectors Gold Miners	Pair Corr
0.85	JNUG	Direxion Daily Junior	Pair Corr
0.87	NUGT	Direxion Daily Gold	Pair Corr
0.88	FNGG	Direxion Daily Select	Pair Corr
0.84	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.86	AXP	American Express	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.84	TRV	The Travelers Companies	Pair Corr
0.83	GE	GE Aerospace Earnings Call Tomorrow	Pair Corr
0.84	DD	Dupont De Nemours	Pair Corr
0.88	BAC	Bank of America Aggressive Push	Pair Corr

Moving against First Etf

0.81	KO	Coca Cola Earnings Call Tomorrow	Pair Corr
0.56	DIS	Walt Disney	Pair Corr
0.52	BA	Boeing	Pair Corr

Related Correlations Analysis

	FTC	FTA	FNX	FXL	FYX	KLMT	RPV	GSEW	SCHY	FDLO
FTC		0.73	0.86	0.95	0.84	0.93	0.79	0.86	0.58	0.89	FTC
FTA	0.73		0.95	0.68	0.94	0.85	0.97	0.92	0.79	0.92	FTA
FNX	0.86	0.95		0.82	0.99	0.92	0.97	0.93	0.76	0.96	FNX
FXL	0.95	0.68	0.82		0.78	0.91	0.77	0.87	0.46	0.85	FXL
FYX	0.84	0.94	0.99	0.78		0.92	0.97	0.9	0.81	0.96	FYX
KLMT	0.93	0.85	0.92	0.91	0.92		0.91	0.91	0.75	0.96	KLMT
RPV	0.79	0.97	0.97	0.77	0.97	0.91		0.92	0.77	0.95	RPV
GSEW	0.86	0.92	0.93	0.87	0.9	0.91	0.92		0.65	0.92	GSEW
SCHY	0.58	0.79	0.76	0.46	0.81	0.75	0.77	0.65		0.78	SCHY
FDLO	0.89	0.92	0.96	0.85	0.96	0.96	0.95	0.92	0.78		FDLO
	FTC	FTA	FNX	FXL	FYX	KLMT	RPV	GSEW	SCHY	FDLO

Please upgrade your account to get full access to Macroaxis premium features

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
FTC	0.66	0.01	0.01	0.06	0.78	(0.73)	1.52	(1.03)	5.24
FTA	0.61	(0.01)	(0.01)	0.04	0.59	(0.80)	1.45	(1.03)	4.49
FNX	0.73	0.01	0.04	0.06	0.72	(0.86)	1.89	(1.09)	6.04
FXL	0.92	0.02	0.03	0.06	1.14	(0.95)	2.28	(1.56)	6.73
FYX	0.90	0.04	0.08	0.07	0.86	(1.12)	2.37	(1.35)	7.50
KLMT	0.47	0.04	0.05	0.10	0.50	(0.52)	1.18	(0.60)	4.02
RPV	0.65	0.03	0.04	0.07	0.65	(0.75)	1.39	(1.18)	4.70
GSEW	0.50	(0.02)	(0.03)	0.03	0.58	(0.54)	1.25	(0.80)	4.23
SCHY	0.46	0.04	0.02	0.12	0.47	(0.50)	1.04	(0.78)	2.62
FDLO	0.36	0.01	(0.01)	0.07	0.46	(0.37)	0.87	(0.65)	2.87

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC