First Trust Correlations

FTXG Etf

USD 20.94 0.14 0.66%

The current 90-days correlation between First Trust Nasdaq and First Trust Nasdaq is 0.42 (i.e., Very weak 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

Significant diversification

The correlation between First Trust Nasdaq and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Nasdaq 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 Nasdaq. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with First Etf

0.88	XLP	Consumer Staples Select	Pair Corr
0.73	VDC	Vanguard Consumer Staples	Pair Corr
0.81	IYK	iShares Consumer Staples	Pair Corr
0.63	KXI	iShares Global Consumer	Pair Corr
0.88	FSTA	Fidelity MSCI Consumer	Pair Corr
0.88	RHS	Invesco SP 500	Pair Corr
0.78	FXG	First Trust Consumer	Pair Corr
0.83	PBJ	Invesco Dynamic Food	Pair Corr

Moving against First Etf

0.42	TSXU	Direxion Shares ETF	Pair Corr
0.42	GE	GE Aerospace	Pair Corr
0.34	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	FTXH	SHRY	TOKE	DFVE	FLN	RNEM	LST	LTL	MEDX	JCHI
FTXH		-0.13	-0.18	0.51	0.91	0.72	0.55	0.17	0.96	-0.62	FTXH
SHRY	-0.13		0.74	0.58	-0.22	-0.14	0.51	0.84	-0.04	0.29	SHRY
TOKE	-0.18	0.74		0.4	-0.28	-0.32	0.38	0.55	-0.12	0.23	TOKE
DFVE	0.51	0.58	0.4		0.5	0.41	0.96	0.71	0.51	-0.21	DFVE
FLN	0.91	-0.22	-0.28	0.5		0.81	0.54	0.09	0.83	-0.5	FLN
RNEM	0.72	-0.14	-0.32	0.41	0.81		0.46	0.15	0.65	-0.41	RNEM
LST	0.55	0.51	0.38	0.96	0.54	0.46		0.68	0.52	-0.21	LST
LTL	0.17	0.84	0.55	0.71	0.09	0.15	0.68		0.2	0.09	LTL
MEDX	0.96	-0.04	-0.12	0.51	0.83	0.65	0.52	0.2		-0.62	MEDX
JCHI	-0.62	0.29	0.23	-0.21	-0.5	-0.41	-0.21	0.09	-0.62		JCHI
	FTXH	SHRY	TOKE	DFVE	FLN	RNEM	LST	LTL	MEDX	JCHI

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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

MEDX	+ 0.96	FTXH
LST	+ 0.96	DFVE
FLN	+ 0.91	FTXH
LTL	+ 0.84	SHRY
MEDX	+ 0.83	FLN
RNEM	+ 0.81	FLN

High negative correlations

JCHI	- 0.62	MEDX
JCHI	- 0.62	FTXH
JCHI	- 0.5	FLN
JCHI	- 0.41	RNEM
RNEM	- 0.32	TOKE
FLN	- 0.28	TOKE

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
FTXH	0.71	0.16	0.17	1.19	0.44	(0.91)	1.81	(1.17)	4.73
SHRY	0.58	(0.05)	0.00	(1.80)	0.00	0.00	0.94	(1.33)	3.03
TOKE	2.19	(0.05)	(0.02)	0.00	2.55	(2.76)	5.71	(4.45)	29.19
DFVE	0.61	(0.02)	(0.02)	0.03	0.78	(0.63)	1.32	(1.32)	3.21
FLN	0.91	0.12	0.07	0.43	1.13	(0.99)	2.14	(2.11)	6.27
RNEM	0.48	0.04	(0.01)	(0.53)	0.54	(0.51)	0.88	(0.82)	2.61
LST	0.64	(0.02)	(0.03)	0.03	0.80	(0.68)	1.31	(1.26)	3.66
LTL	1.23	0.02	(0.02)	0.27	1.53	(1.28)	2.29	(2.52)	6.11
MEDX	0.68	0.08	0.05	0.94	0.59	(0.81)	1.56	(0.99)	4.13
JCHI	0.76	(0.13)	0.00	(0.12)	0.00	0.00	1.21	(1.38)	6.29

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