First Trust Correlations

FTC Etf

USD 161.48 0.48 0.30%

The current 90-days correlation between First Trust Large and First Trust Large is 0.91 (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

Poor diversification

The correlation between First Trust Large and DJI is 0.74 (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

0.73	VUG	Vanguard Growth Index	Pair Corr
0.81	IWF	iShares Russell 1000	Pair Corr
0.71	IVW	iShares SP 500	Pair Corr
0.75	SPYG	SPDR Portfolio SP	Pair Corr
0.78	IUSG	iShares Core SP	Pair Corr
0.77	VONG	Vanguard Russell 1000	Pair Corr
0.7	MGK	Vanguard Mega Cap	Pair Corr
0.64	VRGWX	Vanguard Russell 1000	Pair Corr
0.68	QQQM	Invesco NASDAQ 100	Pair Corr
0.78	IWY	iShares Russell Top	Pair Corr
0.66	MAPP	Harbor ETF Trust	Pair Corr
0.68	QULL	ETRACS 2x Leveraged	Pair Corr
0.63	QQH	HCM Defender 100	Pair Corr
0.77	XLK	Technology Select Sector	Pair Corr

Related Correlations Analysis

	FEX	FTA	FNX	FXL	QDPL	PDP	FYX	VTWG	NTSX	EQTY
FEX		0.85	0.93	0.7	0.88	0.57	0.94	0.81	0.83	0.95	FEX
FTA	0.85		0.75	0.26	0.75	0.07	0.9	0.47	0.62	0.89	FTA
FNX	0.93	0.75		0.69	0.71	0.65	0.92	0.9	0.68	0.9	FNX
FXL	0.7	0.26	0.69		0.66	0.91	0.56	0.84	0.71	0.55	FXL
QDPL	0.88	0.75	0.71	0.66		0.47	0.82	0.67	0.95	0.84	QDPL
PDP	0.57	0.07	0.65	0.91	0.47		0.41	0.87	0.57	0.42	PDP
FYX	0.94	0.9	0.92	0.56	0.82	0.41		0.77	0.74	0.96	FYX
VTWG	0.81	0.47	0.9	0.84	0.67	0.87	0.77		0.71	0.74	VTWG
NTSX	0.83	0.62	0.68	0.71	0.95	0.57	0.74	0.71		0.78	NTSX
EQTY	0.95	0.89	0.9	0.55	0.84	0.42	0.96	0.74	0.78		EQTY
	FEX	FTA	FNX	FXL	QDPL	PDP	FYX	VTWG	NTSX	EQTY

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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
FEX	0.69	(0.03)	(0.03)	0.03	0.97	(0.67)	1.25	(1.37)	3.43
FTA	0.59	0.01	0.00	0.07	0.68	(0.62)	1.16	(1.07)	3.31
FNX	0.84	(0.06)	(0.04)	0.01	1.05	(0.86)	1.79	(1.69)	4.13
FXL	1.16	(0.09)	(0.04)	0.00	1.69	(1.09)	2.00	(2.96)	6.36
QDPL	0.60	(0.01)	(0.03)	0.04	0.82	(0.60)	1.49	(1.36)	3.58
PDP	1.23	(0.11)	0.00	(0.01)	0.00	0.00	2.50	(3.13)	7.36
FYX	0.93	(0.01)	0.01	0.05	1.08	(1.04)	2.06	(1.89)	4.61
VTWG	1.18	(0.08)	(0.03)	0.01	1.52	(1.13)	1.93	(2.29)	7.00
NTSX	0.57	(0.01)	(0.03)	0.04	0.71	(0.60)	1.13	(1.03)	3.10
EQTY	0.67	0.01	0.01	0.07	0.83	(0.67)	1.25	(1.62)	3.51

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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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