First Trust Correlations

Etfs . USA . 
Etf . First Trust Mid
FNX Etf  USD 119.01  0.00  0.00%   
The current 90-days correlation between First Trust Mid and First Trust Small 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Mid and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Mid 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 Mid. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with First Etf

  0.97VO Vanguard Mid CapPairCorr
  0.97VXF Vanguard Extended MarketPairCorr
  1.0IJH iShares Core SPPairCorr
  0.97IWR iShares Russell MidPairCorr
  1.0MDY SPDR SP MIDCAPPairCorr
  0.97FV First Trust DorseyPairCorr
  0.97IVOO Vanguard SP MidPairCorr
  1.0JHMM John Hancock MultifactorPairCorr
  1.0BBMC JPMorgan BetaBuilders MidPairCorr
  0.98XMMO Invesco SP MidCapPairCorr
  0.94DFEN Direxion Daily AerospacePairCorr
  0.89TARK AXS 2X InnovationPairCorr
  0.87BITU ProShares TrustPairCorr
  0.87BTCL T Rex 2XPairCorr
  0.88BTFX Valkyrie Bitcoin FuturesPairCorr
  0.71DFCF Dimensional ETF TrustPairCorr
  0.94KEMQ KraneShares EmergingPairCorr
  0.88HDV iShares Core HighPairCorr
  0.8KWEB KraneShares CSI ChinaPairCorr
  0.81PFE Pfizer Inc Aggressive PushPairCorr
  0.93AXP American ExpressPairCorr
  0.86IBM International BusinessPairCorr
  0.82CVX Chevron Corp Earnings Call This WeekPairCorr
  0.93DIS Walt DisneyPairCorr
  0.76INTC IntelPairCorr
  0.91GE GE AerospacePairCorr
  0.94CSCO Cisco SystemsPairCorr
  0.94JPM JPMorgan ChasePairCorr

Moving against First Etf

  0.87WTID UBS ETRACSPairCorr
  0.62ARKC ARK 21Shares Active Low VolatilityPairCorr
  0.65MCD McDonaldsPairCorr
  0.6KO Coca ColaPairCorr
  0.44PG Procter Gamble Earnings Call This WeekPairCorr

Related Correlations Analysis

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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.

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