First Trust Correlations

FIXD Etf

USD 44.49 0.02 0.04%

The current 90-days correlation between First Trust TCW and The 2023 ETF is -0.18 (i.e., Good 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

Modest diversification

The correlation between First Trust TCW and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust TCW 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 TCW. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with First Etf

0.89	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.92	FBND	Fidelity Total Bond	Pair Corr
0.87	TOTL	SPDR DoubleLine Total	Pair Corr
0.86	HTRB	Hartford Total Return	Pair Corr
0.79	GTO	Invesco Total Return	Pair Corr
0.94	EUSB	iShares Trust	Pair Corr
0.91	JCPB	JPMorgan Core Plus	Pair Corr
0.72	KORU	Direxion Daily South Downward Rally	Pair Corr
0.74	MUU	Direxion Daily MU Trending	Pair Corr
0.74	MULL	GraniteShares 2x Long Trending	Pair Corr
0.65	SHNY	Microsectors Gold	Pair Corr
0.65	AGQ	ProShares Ultra Silver	Pair Corr
0.65	BDEC	Innovator SP 500	Pair Corr
0.68	NSI	National Security	Pair Corr
0.72	RWL	Invesco SP 500	Pair Corr
0.89	INMU	BlackRock Intermediate	Pair Corr
0.66	DVLU	First Trust Dorsey	Pair Corr
0.75	GLD	SPDR Gold Shares Aggressive Push	Pair Corr
0.75	AHLT	American Beacon Select	Pair Corr
0.75	GLDM	SPDR Gold Mini	Pair Corr
0.71	AAPU	Direxion Shares ETF Potential Growth	Pair Corr
0.69	MAYT	AIM ETF Products	Pair Corr
0.86	ALLW	SPDR Bridgewater All	Pair Corr

Related Correlations Analysis

	EAGL	CGDG	EWC	EMLP	GRID	IMTM	LVHI	HELO	USCA	AAXJ
EAGL		0.47	0.43	0.1	0.73	0.54	0.31	0.79	0.81	0.62	EAGL
CGDG	0.47		0.8	0.59	0.57	0.78	0.78	0.72	0.64	0.62	CGDG
EWC	0.43	0.8		0.59	0.31	0.76	0.73	0.71	0.52	0.28	EWC
EMLP	0.1	0.59	0.59		0.07	0.32	0.72	0.44	0.27	0.15	EMLP
GRID	0.73	0.57	0.31	0.07		0.48	0.26	0.56	0.77	0.9	GRID
IMTM	0.54	0.78	0.76	0.32	0.48		0.53	0.69	0.6	0.45	IMTM
LVHI	0.31	0.78	0.73	0.72	0.26	0.53		0.74	0.51	0.36	LVHI
HELO	0.79	0.72	0.71	0.44	0.56	0.69	0.74		0.81	0.57	HELO
USCA	0.81	0.64	0.52	0.27	0.77	0.6	0.51	0.81		0.74	USCA
AAXJ	0.62	0.62	0.28	0.15	0.9	0.45	0.36	0.57	0.74		AAXJ
	EAGL	CGDG	EWC	EMLP	GRID	IMTM	LVHI	HELO	USCA	AAXJ

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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
EAGL	0.63	0.03	(0.07)	0.41	0.81	(0.66)	1.39	(1.36)	3.56
CGDG	0.51	(0.02)	(0.07)	0.07	0.52	(0.58)	1.02	(0.98)	2.98
EWC	0.72	0.05	0.04	0.15	0.80	(0.74)	1.34	(1.40)	3.72
EMLP	0.44	0.03	(0.11)	5.87	0.53	(0.43)	0.85	(0.78)	2.28
GRID	0.78	(0.01)	(0.01)	0.09	1.02	(0.73)	1.67	(1.91)	3.97
IMTM	0.57	0.00	(0.04)	0.09	0.64	(0.57)	1.12	(1.07)	2.55
LVHI	0.33	0.11	0.02	6.40	0.19	(0.39)	0.87	(0.50)	2.09
HELO	0.25	0.03	(0.14)	0.73	0.34	(0.24)	0.78	(0.52)	1.72
USCA	0.58	0.06	(0.03)	0.75	0.81	(0.57)	1.29	(1.40)	3.45
AAXJ	0.73	(0.01)	(0.03)	0.08	0.90	(0.82)	1.45	(1.33)	5.35

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First Trust Correlations

First Trust Correlation With Market

Modest diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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