First Trust Correlations

FXL Etf

USD 162.24 1.96 1.22%

The current 90-days correlation between First Trust Technology and First Trust Health is 0.55 (i.e., Weak diversification).The correlation coefficient ranges from -1 to +1 and quantifies how closely the stock co-moves with paired assets.

Market Correlation Signal - First Trust

Weak diversification

Across the chosen horizon, First Trust and Dow Jones show a correlation of 0.49 and fall into the Weak diversification bucket. The overlap area shows the portion of risk that can be diversified away by holding both instruments together.

Build portfolio with First Etf

Use Investing Opportunities to explore diversified allocation structure. The construction of a diversified portfolio involves managing position exposure. Tracking First Trust Technology in a portfolio helps measure its contribution to overall performance. Portfolio views show how individual holdings contribute to aggregate returns. Broader economic conditions can influence First Trust Technology's etf valuation — related indicators include signals in services.

Moving together with First Etf

0.81	VGT	Vanguard Information	Pair Corr
0.84	XLK	Technology Select Sector	Pair Corr
0.84	IYW	iShares Technology ETF	Pair Corr
0.76	CIBR	First Trust NASDAQ	Pair Corr
0.81	FTEC	Fidelity MSCI Information	Pair Corr
0.66	IGV	iShares Expanded Tech	Pair Corr
0.74	FDN	First Trust Dow	Pair Corr
0.85	IGM	iShares Expanded Tech	Pair Corr
0.71	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.74	MSFT	Microsoft	Pair Corr
0.72	AXP	American Express	Pair Corr

Moving against First Etf

0.72	DIG	ProShares Ultra Oil	Pair Corr
0.71	MLPR	ETRACS Quarterly Pay	Pair Corr
0.61	SCHD	Schwab Dividend Equity	Pair Corr
0.82	TRV	The Travelers Companies	Pair Corr
0.78	T	ATT Inc Aggressive Push	Pair Corr
0.67	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.67	KO	Coca Cola	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.66	MCD	McDonalds Sell-off Trend	Pair Corr
0.62	PFE	Pfizer Inc	Pair Corr
0.57	WMT	Walmart Common Stock	Pair Corr
0.42	DD	Dupont De Nemours	Pair Corr
0.38	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	FXU	FEX	FXR	FTC	USPX	BUFD	QVML	KLMT	PKW	FXH
FXU		0.65	0.45	-0.31	-0.49	0.09	-0.39	0.23	-0.14	-0.49	FXU
FEX	0.65		0.95	0.39	0.22	0.58	0.33	0.76	0.59	0.16	FEX
FXR	0.45	0.95		0.52	0.4	0.66	0.49	0.82	0.75	0.38	FXR
FTC	-0.31	0.39	0.52		0.91	0.62	0.91	0.61	0.8	0.82	FTC
USPX	-0.49	0.22	0.4	0.91		0.64	0.99	0.58	0.79	0.86	USPX
BUFD	0.09	0.58	0.66	0.62	0.64		0.69	0.94	0.63	0.63	BUFD
QVML	-0.39	0.33	0.49	0.91	0.99	0.69		0.66	0.83	0.84	QVML
KLMT	0.23	0.76	0.82	0.61	0.58	0.94	0.66		0.71	0.58	KLMT
PKW	-0.14	0.59	0.75	0.8	0.79	0.63	0.83	0.71		0.76	PKW
FXH	-0.49	0.16	0.38	0.82	0.86	0.63	0.84	0.58	0.76		FXH
	FXU	FEX	FXR	FTC	USPX	BUFD	QVML	KLMT	PKW	FXH

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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

QVML	+ 0.99	USPX
FXR	+ 0.95	FEX
KLMT	+ 0.94	BUFD
USPX	+ 0.91	FTC
QVML	+ 0.91	FTC
FXH	+ 0.86	USPX

High negative correlations

FXH	- 0.49	FXU
USPX	- 0.49	FXU
QVML	- 0.39	FXU
FTC	- 0.31	FXU
PKW	- 0.14	FXU

First Trust Constituents Risk-Adjusted Indicators

Strong recent returns in First Etf do not always mean First Trust ETF is outperforming peers on business quality. Risk-adjusted metrics help compare First Trust's efficiency and downside exposure against peers on a like-for-like basis. These indicators are quantitative in nature and help investors evaluate volatility and risk-adjusted expected returns across different positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FXU	0.67	0.13	0.18	0.62	0.86	-0.68	1.42	-1.21	5.69
FEX	0.60	0.09	0.12	0.04	0.81	-0.57	1.18	-1.29	3.96
FXR	0.96	0.11	0.07	0.02	1.25	-0.96	2.13	-2.26	5.87
FTC	0.94	0.04	0.00	-0.03	0.00	0.00	1.66	-1.95	5.73
USPX	0.63	0.00	0.00	-0.07	0.00	0.00	1.03	-1.44	3.64
BUFD	0.26	-0.03	0.00	0.23	0.00	0.00	0.50	-0.64	1.66
QVML	0.61	0.00	0.00	-0.07	0.00	0.00	0.90	-1.36	3.68
KLMT	0.65	-0.06	0.00	0.19	0.00	0.00	0.96	-1.77	3.87
PKW	0.68	0.02	0.00	-0.05	0.00	0.00	1.40	-1.52	4.07
FXH	0.73	-0.14	0.00	17.70	0.00	0.00	1.54	-1.67	3.98

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