First Trust Correlations

FXU Etf

USD 45.02 0.04 0.09%

The current 90-days correlation between First Trust Utilities and First Trust IndustrialsProducer is 0.29 (i.e., Modest 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

Weak diversification

The correlation between First Trust Utilities and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Utilities 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 Utilities. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in median.

Moving together with First Etf

0.91	XLU	Utilities Select Sector Sell-off Trend	Pair Corr
0.9	VPU	Vanguard Utilities Index	Pair Corr
0.9	FUTY	Fidelity MSCI Utilities	Pair Corr
0.89	IDU	iShares Utilities ETF	Pair Corr
0.89	JXI	iShares Global Utilities	Pair Corr
0.63	PUI	Invesco DWA Utilities	Pair Corr
0.63	UTES	Virtus Reaves Utilities	Pair Corr

Moving against First Etf

0.35	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.51	SIXS	6 Meridian Small	Pair Corr
0.42	SAWS	AAM Sawgrass Small	Pair Corr
0.39	QQJG	Invesco ESG NASDAQ	Pair Corr
0.37	APRT	AllianzIM Large Cap	Pair Corr
0.59	EQRR	ProShares Equities for	Pair Corr
0.58	AVUV	Avantis Small Cap	Pair Corr
0.44	SCJ	iShares MSCI Japan	Pair Corr
0.41	SIL	Global X Silver	Pair Corr
0.36	AJUL	Innovator Equity Defined	Pair Corr
0.36	PLTM	GraniteShares Platinum Buyout Trend	Pair Corr

Related Correlations Analysis

	FXR	FXL	FEX	SMMD	FXO	FLQM	EWA	FXH	IDU	FSMD
FXR		0.71	0.91	0.95	0.68	0.83	0.6	0.44	-0.26	0.89	FXR
FXL	0.71		0.71	0.69	0.29	0.38	0.75	0.07	-0.09	0.51	FXL
FEX	0.91	0.71		0.97	0.81	0.83	0.42	0.58	-0.42	0.94	FEX
SMMD	0.95	0.69	0.97		0.76	0.84	0.44	0.58	-0.34	0.94	SMMD
FXO	0.68	0.29	0.81	0.76		0.85	0.06	0.47	-0.7	0.89	FXO
FLQM	0.83	0.38	0.83	0.84	0.85		0.35	0.51	-0.35	0.93	FLQM
EWA	0.6	0.75	0.42	0.44	0.06	0.35		-0.2	0.28	0.31	EWA
FXH	0.44	0.07	0.58	0.58	0.47	0.51	-0.2		-0.18	0.58	FXH
IDU	-0.26	-0.09	-0.42	-0.34	-0.7	-0.35	0.28	-0.18		-0.5	IDU
FSMD	0.89	0.51	0.94	0.94	0.89	0.93	0.31	0.58	-0.5		FSMD
	FXR	FXL	FEX	SMMD	FXO	FLQM	EWA	FXH	IDU	FSMD

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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

SMMD	+ 0.97	FEX
SMMD	+ 0.95	FXR
FSMD	+ 0.94	FEX
FSMD	+ 0.94	SMMD
FSMD	+ 0.93	FLQM
FEX	+ 0.91	FXR

High negative correlations

IDU	- 0.7	FXO
FSMD	- 0.5	IDU
IDU	- 0.42	FEX
IDU	- 0.35	FLQM
IDU	- 0.34	SMMD
IDU	- 0.26	FXR

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
FXR	0.82	(0.02)	0.00	0.06	1.03	(0.79)	1.69	(1.85)	4.31
FXL	1.14	(0.08)	(0.03)	0.02	1.66	(1.05)	2.00	(2.96)	6.36
FEX	0.68	(0.03)	(0.02)	0.05	0.96	(0.64)	1.25	(1.37)	3.61
SMMD	0.85	(0.04)	(0.01)	0.05	1.09	(0.83)	1.57	(1.73)	4.55
FXO	0.75	(0.03)	(0.01)	0.05	1.12	(0.78)	1.58	(1.61)	5.25
FLQM	0.58	(0.04)	(0.07)	0.03	0.74	(0.58)	1.34	(1.19)	3.24
EWA	0.66	(0.03)	(0.05)	0.04	0.88	(0.66)	1.25	(1.59)	3.80
FXH	0.73	0.03	0.02	0.10	0.82	(0.79)	1.88	(1.53)	4.18
IDU	0.58	(0.04)	0.00	(0.03)	0.00	0.00	1.11	(1.25)	3.68
FSMD	0.67	(0.04)	(0.04)	0.04	0.86	(0.68)	1.52	(1.28)	3.62

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