First Trust Correlations

FPX Etf

USD 165.35 0.55 0.33%

Current 90-days correlation between First Trust Equity and Invesco DWA Momentum is 0.91 (i.e., Almost no diversification).Understanding First Trust's pairwise correlations with sector peers is a useful first step in identifying truly differentiated exposure within an investment portfolio.

Market Correlation Snapshot: First Trust

Average diversification

Across the chosen horizon, FPX and DJI show a correlation of 0.17 and fall into the Average diversification bucket. This matters because lower overlap can improve diversification, while higher overlap leaves more of the same risk inside the portfolio.

Build portfolio with First Etf

Use Investing Opportunities to better understand diversified portfolio construction. Clearer exposure analysis supports long-term portfolio balance. This includes a position in First Trust Equity within the allocation view. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with First Etf

0.81	VOT	Vanguard Mid Cap	Pair Corr
0.81	IWP	iShares Russell Mid	Pair Corr
0.76	ARKK	ARK Innovation ETF	Pair Corr
0.66	ARKW	ARK Next Generation	Pair Corr

Moving against First Etf

0.33	PXMV	Invesco SAMPP MidCap	Pair Corr
0.47	BSCR	Invesco BulletShares 2027	Pair Corr
0.47	SHV	iShares Trust	Pair Corr
0.44	DIVG	Invesco Exchange Traded	Pair Corr
0.36	EMIF	iShares Emerging Markets	Pair Corr
0.35	IYM	iShares Basic Materials	Pair Corr
0.35	FCAL	First Trust California	Pair Corr
0.32	BSCT	Invesco BulletShares 2029	Pair Corr

Related Correlations Analysis

	FWD	USXF	QQQE	PWV	JPIB	NUSC	IMCB	FTC	PJAN	PDP
FWD		0.61	0.29	0.69	0.77	0.81	0.83	0.51	0.67	0.96	FWD
USXF	0.61		0.78	0.08	0.6	0.67	0.41	0.93	0.85	0.58	USXF
QQQE	0.29	0.78		-0.3	0.23	0.37	0.09	0.87	0.68	0.2	QQQE
PWV	0.69	0.08	-0.3		0.67	0.57	0.86	-0.07	0.27	0.76	PWV
JPIB	0.77	0.6	0.23	0.67		0.9	0.86	0.53	0.76	0.8	JPIB
NUSC	0.81	0.67	0.37	0.57	0.9		0.82	0.64	0.79	0.83	NUSC
IMCB	0.83	0.41	0.09	0.86	0.86	0.82		0.33	0.56	0.86	IMCB
FTC	0.51	0.93	0.87	-0.07	0.53	0.64	0.33		0.82	0.48	FTC
PJAN	0.67	0.85	0.68	0.27	0.76	0.79	0.56	0.82		0.6	PJAN
PDP	0.96	0.58	0.2	0.76	0.8	0.83	0.86	0.48	0.6		PDP
	FWD	USXF	QQQE	PWV	JPIB	NUSC	IMCB	FTC	PJAN	PDP

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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

PDP	+ 0.96	FWD
FTC	+ 0.93	USXF
NUSC	+ 0.9	JPIB
FTC	+ 0.87	QQQE
IMCB	+ 0.86	PWV
IMCB	+ 0.86	JPIB

High negative correlations

PWV	- 0.3	QQQE
FTC	- 0.07	PWV

First Trust Constituents Risk-Adjusted Indicators

Evaluating First Etf requires separating price momentum from underlying business quality relative to competitors. 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
FWD	1.23	0.12	0.06	0.05	1.65	-1.23	2.29	-2.88	7.82
USXF	0.82	-0.01	0.00	-0.05	0.00	0.00	1.37	-1.89	5.52
QQQE	0.71	0.00	0.00	-0.05	0.00	0.00	1.34	-1.46	4.16
PWV	0.46	0.07	0.18	-1.13	0.50	-0.50	1.09	-1.01	2.49
JPIB	0.13	0.00	0.12	-0.05	0.28	-0.11	0.25	-0.37	1.14
NUSC	0.81	0.03	0.00	-0.01	0.00	0.00	1.49	-1.66	5.26
IMCB	0.63	0.02	0.08	-0.21	0.82	-0.60	1.26	-1.49	4.34
FTC	0.91	0.00	0.00	-0.04	0.00	0.00	1.43	-1.95	5.64
PJAN	0.26	0.01	0.08	-0.02	0.40	-0.24	0.51	-0.72	1.89
PDP	1.22	0.10	0.05	0.04	1.57	-1.21	1.93	-2.70	7.18

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