First Trust Correlations

FIXD Etf

USD 44.75 0.04 0.09%

The current 90-days correlation between First Trust TCW and iShares MSCI USA is 0.25 (i.e., Modest 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

Poor diversification

The correlation between First Trust TCW and DJI is 0.65 (i.e., Poor 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 housing.

Moving together with First Etf

0.97	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.97	FBND	Fidelity Total Bond Sell-off Trend	Pair Corr
0.94	TOTL	SPDR DoubleLine Total	Pair Corr
0.75	BNDS	Series Portfolios Trust	Pair Corr
0.97	HTRB	Hartford Total Return	Pair Corr
0.95	GTO	Invesco Total Return	Pair Corr
0.97	EUSB	iShares Trust	Pair Corr
0.97	JCPB	JPMorgan Core Plus Sell-off Trend	Pair Corr
0.62	ITWO	Proshares Russell 2000	Pair Corr
0.67	AMPD	Tidal ETF Services	Pair Corr
0.65	CPST	Calamos ETF Trust	Pair Corr
0.69	EMES	Harbor ETF Trust	Pair Corr
0.69	PCEM	Litman Gregory Funds	Pair Corr
0.76	SPVM	Invesco SP 500	Pair Corr
0.65	PFF	iShares Preferred Sell-off Trend	Pair Corr
0.75	SCZ	iShares MSCI EAFE Sell-off Trend	Pair Corr
0.84	XTWO	Bondbloxx ETF Trust	Pair Corr
0.85	DFSD	Dimensional ETF Trust	Pair Corr
0.71	XFIX	Fm Investments Symbol Change	Pair Corr
0.72	VGUS	Vanguard Ultra Short	Pair Corr
0.7	TOCT	Innovator Equity Defined	Pair Corr
0.7	LSEQ	Harbor ETF Trust	Pair Corr
0.79	TAXT	Northern Trust Tax	Pair Corr
0.67	XYLD	Global X SP	Pair Corr
0.8	SCDV	ETF Series Solutions	Pair Corr
0.79	DOGG	First Trust Exchange Low Volatility	Pair Corr
0.69	CHPS	Xtrackers Semiconductor	Pair Corr
0.77	GENW	Spinnaker ETF Series	Pair Corr
0.75	FIDU	Fidelity MSCI Industrials	Pair Corr
0.72	CCNR	CoreCommodity Natural	Pair Corr

Moving against First Etf

0.57	DRSK	Aptus Defined Risk	Pair Corr
0.49	MPAY	Exchange Traded Concepts	Pair Corr

Related Correlations Analysis

	LCTU	ARKF	BAFE	FDLO	LIT	BLOK	GSEW	QVML	EUSA
LCTU		0.04	0.9	0.8	0.55	0.43	0.82	0.98	0.82	LCTU
ARKF	0.04		0.28	-0.47	-0.61	0.73	-0.45	-0.15	-0.44	ARKF
BAFE	0.9	0.28		0.58	0.41	0.58	0.67	0.84	0.68	BAFE
FDLO	0.8	-0.47	0.58		0.73	0.04	0.88	0.88	0.87	FDLO
LIT	0.55	-0.61	0.41	0.73		-0.03	0.84	0.68	0.82	LIT
BLOK	0.43	0.73	0.58	0.04	-0.03		0.11	0.31	0.1	BLOK
GSEW	0.82	-0.45	0.67	0.88	0.84	0.11		0.89	1.0	GSEW
QVML	0.98	-0.15	0.84	0.88	0.68	0.31	0.89		0.88	QVML
EUSA	0.82	-0.44	0.68	0.87	0.82	0.1	1.0	0.88		EUSA
	LCTU	ARKF	BAFE	FDLO	LIT	BLOK	GSEW	QVML	EUSA

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

EUSA	+ 1.0	GSEW
QVML	+ 0.98	LCTU
BAFE	+ 0.9	LCTU
QVML	+ 0.89	GSEW
GSEW	+ 0.88	FDLO
QVML	+ 0.88	FDLO

High negative correlations

LIT	- 0.61	ARKF
FDLO	- 0.47	ARKF
GSEW	- 0.45	ARKF
EUSA	- 0.44	ARKF
QVML	- 0.15	ARKF
BLOK	- 0.03	LIT

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
LCTU	0.57	(0.04)	(0.05)	(0.01)	0.86	(0.54)	1.02	(1.63)	4.10
ARKF	1.66	(0.52)	0.00	(0.27)	0.00	0.00	3.37	(4.77)	9.56
BAFE	0.63	(0.04)	0.00	(0.01)	0.00	0.00	1.27	(1.35)	3.58
FDLO	0.42	0.00	(0.02)	0.04	0.54	(0.42)	0.93	(0.81)	2.95
LIT	1.35	0.26	0.11	(0.75)	1.64	(1.39)	2.62	(2.91)	8.60
BLOK	2.06	(0.31)	0.00	(0.12)	0.00	0.00	4.13	(4.49)	12.80
GSEW	0.62	0.04	0.04	0.07	0.70	(0.72)	1.26	(1.45)	4.05
QVML	0.53	(0.03)	(0.04)	0.00	0.78	(0.51)	0.99	(1.32)	3.67
EUSA	0.60	0.03	0.04	0.07	0.65	(0.70)	1.31	(1.36)	3.68

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