First Trust Correlations

FIXD Etf

USD 44.54 0.06 0.13%

The current 90-days correlation between First Trust TCW and First Trust Low is 0.04 (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.

First Trust Correlation With Market

Average diversification

The correlation between First Trust TCW and DJI is 0.19 (i.e., Average 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 consumer price index.

Moving together with First Etf

0.94	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.98	FBND	Fidelity Total Bond	Pair Corr
0.95	BNDS	Series Portfolios Trust	Pair Corr
1.0	HTRB	Hartford Total Return	Pair Corr
0.81	DRSK	Aptus Defined Risk	Pair Corr
1.0	GTO	Invesco Total Return	Pair Corr
0.99	EUSB	iShares Trust	Pair Corr
0.74	USD	ProShares Ultra Semi	Pair Corr
0.83	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.68	DFEN	Direxion Daily Aerospace	Pair Corr
0.65	ETHE	Grayscale Ethereum Trust	Pair Corr
0.79	URNM	Sprott Uranium Miners	Pair Corr
0.95	BSMS	Invesco BulletShares 2028	Pair Corr
0.81	IJS	iShares SP Small	Pair Corr
0.87	EBND	SPDR Bloomberg Emerging	Pair Corr
0.79	OSCV	Opus Small Cap	Pair Corr
0.92	ICSH	iShares Ultra Short	Pair Corr
0.85	SGDJ	Sprott Junior Gold	Pair Corr
0.98	EVTR	Morgan Stanley ETF	Pair Corr
0.92	VTEB	Vanguard Tax Exempt Sell-off Trend	Pair Corr
0.78	SCAP	Series Portfolios Trust	Pair Corr
0.9	XB	BondBloxx ETF Trust	Pair Corr
0.88	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.88	DFAC	Dimensional Core Equity	Pair Corr

Moving against First Etf

0.41

BITX

Volatility Shares Trust Low Volatility

Pair Corr

Related Correlations Analysis

	LMBS	FTSM	HYLS	FMB	FTSL
LMBS		0.99	0.93	0.87	0.97	LMBS
FTSM	0.99		0.92	0.86	0.98	FTSM
HYLS	0.93	0.92		0.91	0.92	HYLS
FMB	0.87	0.86	0.91		0.84	FMB
FTSL	0.97	0.98	0.92	0.84		FTSL
	LMBS	FTSM	HYLS	FMB	FTSL

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LMBS	0.09	0.03	(0.31)	(1.19)	(0.12)	0.22	(0.14)	0.63
FTSM	0.02	0.01	(2.29)	(3.21)	(0.04)	0.07	(0.02)	0.22
HYLS	0.12	0.02	(0.30)	0.18	(0.15)	0.29	(0.21)	0.67
FMB	0.14	0.03	(0.31)	2.26	(0.20)	0.43	(0.18)	0.81
FTSL	0.04	0.01	(0.77)	1.05	(0.06)	0.13	(0.07)	0.31

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