First Trust Correlations

FTA Etf

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The current 90-days correlation between First Trust Large and First Trust Mid is 0.84 (i.e., Very poor 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 Large and DJI is 0.77 (i.e., Poor 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 persons.

Moving together with First Etf

0.97	VOE	Vanguard Mid Cap	Pair Corr
0.77	SDY	SPDR SP Dividend	Pair Corr
0.87	DVY	iShares Select Dividend	Pair Corr
0.91	IWS	iShares Russell Mid	Pair Corr
0.81	FVD	First Trust Value	Pair Corr
0.61	SPYD	SPDR Portfolio SP	Pair Corr
0.96	COWZ	Pacer Cash Cows	Pair Corr
0.82	DON	WisdomTree MidCap	Pair Corr
0.98	RPV	Invesco SP 500	Pair Corr
0.84	QTJA	Innovator ETFs Trust	Pair Corr
0.65	QTOC	Innovator ETFs Trust	Pair Corr
0.81	XTOC	Innovator ETFs Trust	Pair Corr
0.88	QTAP	Innovator Growth 100	Pair Corr
0.87	XTJA	Innovator ETFs Trust	Pair Corr
0.91	XTAP	Innovator Equity Acc	Pair Corr
0.65	ZSB	USCF Sustainable Battery	Pair Corr
0.86	DFAX	Dimensional World	Pair Corr
0.76	HEZU	iShares Currency Hedged	Pair Corr
0.81	QULL	ETRACS 2x Leveraged	Pair Corr
0.72	FSST	Fidelity Sustainability	Pair Corr
0.66	SGOL	abrdn Physical Gold	Pair Corr
0.86	FTBI	First Trust Exchange	Pair Corr
0.94	HYSD	Columbia ETF Trust	Pair Corr
0.79	SCZ	iShares MSCI EAFE	Pair Corr
0.89	PBJA	PGIM Rock ETF	Pair Corr
0.89	CPSU	Calamos SP 500	Pair Corr
0.87	ZJAN	Innovator Equity Defined	Pair Corr
0.84	QLC	FlexShares Quality Large	Pair Corr
0.69	PLTM	GraniteShares Platinum Trending	Pair Corr
0.71	VOO	Vanguard SP 500	Pair Corr
0.98	FLCV	Federated Hermes ETF	Pair Corr
0.79	FROG	Jfrog	Pair Corr

Related Correlations Analysis

	FNX	FTC	FEX	FYX	VFMO	IVOV	IGRO	GEM	PWV	USVM
FNX		0.73	0.93	0.9	0.79	0.93	0.68	0.27	0.48	0.91	FNX
FTC	0.73		0.72	0.53	0.94	0.51	0.3	0.54	0.07	0.47	FTC
FEX	0.93	0.72		0.94	0.7	0.94	0.81	0.51	0.68	0.92	FEX
FYX	0.9	0.53	0.94		0.58	0.97	0.84	0.41	0.72	0.96	FYX
VFMO	0.79	0.94	0.7	0.58		0.55	0.33	0.42	0.02	0.52	VFMO
IVOV	0.93	0.51	0.94	0.97	0.55		0.83	0.28	0.73	0.99	IVOV
IGRO	0.68	0.3	0.81	0.84	0.33	0.83		0.52	0.84	0.84	IGRO
GEM	0.27	0.54	0.51	0.41	0.42	0.28	0.52		0.38	0.27	GEM
PWV	0.48	0.07	0.68	0.72	0.02	0.73	0.84	0.38		0.76	PWV
USVM	0.91	0.47	0.92	0.96	0.52	0.99	0.84	0.27	0.76		USVM
	FNX	FTC	FEX	FYX	VFMO	IVOV	IGRO	GEM	PWV	USVM

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FNX	0.82	(0.05)	(0.03)	0.03	1.04	(0.82)	1.79	(1.69)	4.13
FTC	0.93	(0.07)	(0.03)	0.02	1.32	(0.94)	1.79	(2.35)	5.20
FEX	0.68	(0.03)	(0.02)	0.05	0.96	(0.64)	1.25	(1.37)	3.61
FYX	0.91	(0.02)	0.01	0.06	1.08	(0.97)	2.06	(1.89)	4.61
VFMO	1.15	(0.07)	(0.02)	0.03	1.61	(1.08)	1.86	(2.76)	6.99
IVOV	0.71	(0.03)	(0.02)	0.05	0.90	(0.68)	1.80	(1.31)	3.91
IGRO	0.48	0.03	0.01	0.13	0.50	(0.50)	0.93	(0.87)	2.43
GEM	0.69	0.01	0.00	0.09	0.92	(0.71)	1.45	(1.23)	4.77
PWV	0.47	0.00	(0.05)	0.07	0.51	(0.52)	0.91	(1.03)	2.27
USVM	0.66	(0.03)	(0.03)	0.05	0.83	(0.68)	1.63	(1.42)	3.49

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First Trust Correlations

First Trust Correlation With Market

Poor diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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