First Trust Correlations

FTXN Etf

USD 27.24 0.92 3.27%

The current 90-days correlation between First Trust Nasdaq and First Trust Multi is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Nasdaq moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Modest diversification

The correlation between First Trust Nasdaq and DJI is 0.26 (i.e., Modest 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 signals in income.

Moving together with First Etf

0.93	XLE	Energy Select Sector	Pair Corr
0.93	VDE	Vanguard Energy Index	Pair Corr
0.97	XOP	SPDR SP Oil	Pair Corr
0.94	IYE	iShares Energy ETF	Pair Corr
0.83	IXC	iShares Global Energy	Pair Corr
0.94	FXN	First Trust Energy	Pair Corr
0.93	FENY	Fidelity MSCI Energy	Pair Corr
0.98	IEO	iShares Oil Gas	Pair Corr
0.62	KIE	SPDR SP Insurance	Pair Corr
0.61	XOM	Exxon Mobil Corp	Pair Corr

Moving against First Etf

0.6	SWIN	Alps Symbol Change	Pair Corr
0.33	PRME	Prime Medicine, Common	Pair Corr
0.48	GE	GE Aerospace	Pair Corr
0.36	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	FAB	LEGR	DALI	FID	EMXF	EWO	TRTY	ECNS	ECOW	DEW
FAB		0.41	0.71	0.6	0.15	0.78	0.7	-0.08	0.32	0.83	FAB
LEGR	0.41		0.69	0.61	0.9	0.57	0.83	-0.5	0.76	0.6	LEGR
DALI	0.71	0.69		0.31	0.42	0.5	0.67	0.0	0.27	0.51	DALI
FID	0.6	0.61	0.31		0.59	0.83	0.85	-0.67	0.79	0.91	FID
EMXF	0.15	0.9	0.42	0.59		0.39	0.67	-0.54	0.84	0.45	EMXF
EWO	0.78	0.57	0.5	0.83	0.39		0.85	-0.53	0.66	0.87	EWO
TRTY	0.7	0.83	0.67	0.85	0.67	0.85		-0.54	0.74	0.89	TRTY
ECNS	-0.08	-0.5	0.0	-0.67	-0.54	-0.53	-0.54		-0.62	-0.46	ECNS
ECOW	0.32	0.76	0.27	0.79	0.84	0.66	0.74	-0.62		0.67	ECOW
DEW	0.83	0.6	0.51	0.91	0.45	0.87	0.89	-0.46	0.67		DEW
	FAB	LEGR	DALI	FID	EMXF	EWO	TRTY	ECNS	ECOW	DEW

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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

DEW	+ 0.91	FID
EMXF	+ 0.9	LEGR
DEW	+ 0.89	TRTY
DEW	+ 0.87	EWO
TRTY	+ 0.85	FID
TRTY	+ 0.85	EWO

High negative correlations

ECNS	- 0.67	FID
ECOW	- 0.62	ECNS
ECNS	- 0.54	TRTY
ECNS	- 0.54	EMXF
ECNS	- 0.53	EWO
ECNS	- 0.5	LEGR

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
FAB	0.67	(0.02)	(0.02)	0.06	0.81	(0.70)	1.38	(1.30)	3.81
LEGR	0.59	0.01	0.00	0.09	0.79	(0.58)	1.09	(1.41)	3.22
DALI	0.74	(0.05)	(0.04)	0.03	1.06	(0.67)	1.39	(1.61)	3.79
FID	0.42	0.01	(0.05)	0.10	0.48	(0.45)	0.86	(0.76)	3.66
EMXF	0.59	0.00	(0.03)	0.07	0.87	(0.56)	1.11	(1.26)	4.03
EWO	0.70	0.10	0.10	0.21	0.66	(0.77)	1.38	(1.26)	4.59
TRTY	0.39	0.01	(0.05)	0.10	0.43	(0.41)	0.90	(0.83)	2.34
ECNS	0.94	(0.28)	0.00	(0.22)	0.00	0.00	2.05	(2.11)	8.53
ECOW	0.58	0.01	(0.01)	0.09	0.90	(0.55)	1.12	(1.53)	4.40
DEW	0.45	0.00	(0.05)	0.08	0.43	(0.51)	1.03	(0.80)	2.37

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