First Trust Correlations

FTGS Etf

USD 32.72 0.02 0.06%

The current 90-days correlation between First Trust Growth and FT Vest Equity is 0.92 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust Growth and DJI is 0.96 (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 Growth and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Growth. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with First Etf

0.97	VTI	Vanguard Total Stock	Pair Corr
0.97	SPY	SPDR SP 500	Pair Corr
0.97	IVV	iShares Core SP	Pair Corr
0.93	VIG	Vanguard Dividend Sell-off Trend	Pair Corr
0.97	VV	Vanguard Large Cap	Pair Corr
0.92	RSP	Invesco SP 500	Pair Corr
0.97	IWB	iShares Russell 1000	Pair Corr
0.97	ESGU	iShares ESG Aware	Pair Corr
0.95	DFAC	Dimensional Core Equity Sell-off Trend	Pair Corr
0.97	SPLG	SPDR Portfolio SP	Pair Corr
0.83	MSTY	YieldMax MSTR Option	Pair Corr
0.98	JPM	JPMorgan Chase	Pair Corr
0.99	AXP	American Express	Pair Corr
0.95	MSFT	Microsoft	Pair Corr
0.72	MMM	3M Company	Pair Corr
0.85	TRV	The Travelers Companies	Pair Corr
0.9	IBM	International Business	Pair Corr
0.97	BA	Boeing	Pair Corr
0.73	HD	Home Depot	Pair Corr
0.94	DIS	Walt Disney	Pair Corr

Moving against First Etf

0.86	ARKC	ARK 21Shares Active Low Volatility	Pair Corr
0.73	WTID	UBS ETRACS	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	MCDS	MCHS	DISV	DJAN	MDLV	DJUL
DHDG		0.9	0.97	0.88	0.61	0.96	0.93	0.49	0.91	DHDG
MBCC	0.9		0.92	0.98	0.84	0.92	0.99	0.78	0.99	MBCC
DIHP	0.97	0.92		0.9	0.71	1.0	0.94	0.62	0.92	DIHP
MCDS	0.88	0.98	0.9		0.85	0.89	0.97	0.79	0.96	MCDS
MCHS	0.61	0.84	0.71	0.85		0.71	0.79	0.92	0.78	MCHS
DISV	0.96	0.92	1.0	0.89	0.71		0.94	0.62	0.92	DISV
DJAN	0.93	0.99	0.94	0.97	0.79	0.94		0.7	1.0	DJAN
MDLV	0.49	0.78	0.62	0.79	0.92	0.62	0.7		0.69	MDLV
DJUL	0.91	0.99	0.92	0.96	0.78	0.92	1.0	0.69		DJUL
	DHDG	MBCC	DIHP	MCDS	MCHS	DISV	DJAN	MDLV	DJUL

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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
DHDG	0.35	0.06	0.05	0.17	0.47	(0.34)	1.03	(0.96)	5.20
MBCC	1.06	0.04	0.02	0.07	1.78	(1.03)	2.25	(2.29)	11.71
DIHP	0.78	0.04	0.02	0.09	1.31	(0.75)	1.62	(1.50)	8.25
MCDS	1.12	0.03	0.02	0.06	1.72	(1.19)	2.09	(2.35)	11.71
MCHS	1.31	(0.09)	0.00	(0.06)	0.00	0.00	2.23	(2.38)	16.84
DISV	0.81	0.08	0.04	0.14	1.49	(0.85)	1.56	(1.32)	8.07
DJAN	0.53	0.04	0.03	0.10	0.76	(0.53)	1.06	(1.18)	5.11
MDLV	0.71	(0.05)	0.00	(0.05)	0.00	0.00	1.48	(1.61)	6.20
DJUL	0.69	0.05	0.04	0.11	1.00	(0.70)	1.43	(1.53)	6.58

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