First Trust Correlations

Etfs . USA . 
Etf . First Trust Large
FTA Etf  USD 77.02  0.05  0.06%   
The current 90-days correlation between First Trust Large and First Trust Large is 0.9 (i.e., Almost no 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

Almost no diversification

The correlation between First Trust Large and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Large 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 Large. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with First Etf

  0.99VTV Vanguard Value IndexPairCorr
  0.99VYM Vanguard High DividendPairCorr
  0.99IWD iShares Russell 1000PairCorr
  0.98DGRO iShares Core DividendPairCorr
  0.99IVE iShares SP 500PairCorr
  0.96DVY iShares Select DividendPairCorr
  0.99SPYV SPDR Portfolio SPPairCorr
  0.95FVD First Trust ValuePairCorr
  0.99IUSV iShares Core SPPairCorr
  0.95NOBL ProShares SP 500PairCorr
  0.65GSIG Goldman Sachs AccessPairCorr
  0.61FLXR TCW ETF TrustPairCorr
  0.91SPHY SPDR Portfolio HighPairCorr
  0.88GYLD Arrow ETF TrustPairCorr
  0.87OBND SSGA Active TrustPairCorr
  0.9SOXX iShares Semiconductor ETFPairCorr
  0.72PSLV Sprott Physical Silver Aggressive PushPairCorr
  0.64COPJ Sprott Junior CopperPairCorr
  0.65FID First Trust IntlPairCorr
  0.76VOLT Tema Electrification ETFPairCorr
  0.92BUFR First Trust CboePairCorr
  0.8STXI EA Series TrustPairCorr
  0.83XHYT BondBloxx ETF TrustPairCorr
  0.83QGRW WisdomTree TrustPairCorr
  0.77CGIE Capital Group InternPairCorr
  0.83EURL Direxion Daily FTSEPairCorr
  0.82FORH Formidable ETFPairCorr

Moving against First Etf

  0.94WTID UBS ETRACSPairCorr
  0.65ARKC ARK 21Shares Active Low VolatilityPairCorr

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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