First Trust Correlations

FVC Etf

USD 36.09 0.06 0.17%

The current 90-days correlation between First Trust Dorsey and First Trust Dorsey is 0.57 (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

Poor diversification

The correlation between First Trust Dorsey and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Dorsey 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 Dorsey. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Etf

0.96	TDSC	Cabana Target Drawdown	Pair Corr
0.94	YYY	Amplify High Income	Pair Corr
0.93	TDSB	Cabana Target Drawdown	Pair Corr
0.92	GMOM	Cambria Global Momentum	Pair Corr
0.92	AGOX	Adaptive Alpha Oppor	Pair Corr
0.98	TACK	Fairlead Tactical Sector	Pair Corr
0.99	DALI	First Trust Dorsey	Pair Corr
0.63	BITX	Volatility Shares Trust	Pair Corr
0.64	BITU	ProShares Trust	Pair Corr
0.62	BTCL	T Rex 2X	Pair Corr
0.67	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.88	TARK	AXS 2X Innovation	Pair Corr
0.91	SPRX	Spear Alpha ETF	Pair Corr
0.95	MDLV	EA Series Trust	Pair Corr
0.63	XXRP	Teucrium 2x Long	Pair Corr
0.68	PLTG	Leverage Shares 2X	Pair Corr
0.88	GSFP	Goldman Sachs Future	Pair Corr
0.98	SIXD	AIM ETF Products	Pair Corr
0.93	TNA	Direxion Daily Small	Pair Corr
0.93	DRSK	Aptus Defined Risk	Pair Corr

Moving against First Etf

0.54

WTID

UBS ETRACS

Pair Corr

Related Correlations Analysis

	IFV	FNK	FYT	FV	FCVT
IFV		0.9	0.92	0.95	0.93	IFV
FNK	0.9		0.99	0.91	0.89	FNK
FYT	0.92	0.99		0.91	0.89	FYT
FV	0.95	0.91	0.91		0.97	FV
FCVT	0.93	0.89	0.89	0.97		FCVT
	IFV	FNK	FYT	FV	FCVT

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
IFV	0.63	0.06	0.03	0.19	0.55	(0.74)	1.52	(1.09)	3.42
FNK	0.85	0.03	0.07	0.13	0.68	(1.02)	2.46	(1.41)	5.05
FYT	1.08	0.04	0.11	0.13	0.87	(1.30)	3.00	(1.85)	5.64
FV	0.53	0.00	(0.01)	0.11	0.48	(0.61)	1.31	(0.99)	2.91
FCVT	0.41	0.09	0.05	0.29	0.20	(0.43)	1.01	(0.83)	2.42

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