First Trust Correlations

HISF Etf

USD 44.53 -0.10 -0.22%

The current 90-days correlation between First Trust High and Yieldmax XOM Option is -0.12 (i.e., Good diversification).The statistical correlation between First Trust and related instruments captures the linear component of their co-movement; nonlinear tail dependence may require additional analysis.

Market Correlation Context: First Trust

Very weak diversification

The correlation between HISF and DJI is 0.59, which Macroaxis classifies as Very weak diversification for the selected horizon. Used correctly, the chart helps investors judge whether adding the second position genuinely diversifies the first.

Build AI portfolio with First Etf

Risk vs Return Analysis provides context for diversified portfolio construction. Refined allocation visibility enhances overall portfolio context. This suggests a position in First Trust High inside the allocation mix. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.78	AXSIX	Axonic Strategic Income	Pair Corr
0.78	AXSAX	Axonic Strategic Income	Pair Corr
0.96	SMCRX	ALPSSmith Credit	Pair Corr
0.96	SMCVX	ALPSSmith Credit	Pair Corr
0.96	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.96	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.88	JPIE	JP Morgan Exchange Sell-off Trend	Pair Corr
0.92	AFIF	Anfield Universal Fixed	Pair Corr
0.97	MUSI	American Century	Pair Corr
0.92	SIO	Touchstone Strategic	Pair Corr
0.68	MUU	Direxion Daily MU Trending	Pair Corr
0.68	MULL	GraniteShares 2x Long Trending	Pair Corr
0.87	KORU	Direxion Daily South	Pair Corr
0.65	GDXU	MicroSectors Gold Miners	Pair Corr
0.73	JNUG	Direxion Daily Junior	Pair Corr
0.76	NUGT	Direxion Daily Gold	Pair Corr
0.64	SHNY	Microsectors Gold	Pair Corr
0.73	GDE	WisdomTree Efficient Gold	Pair Corr
0.63	STPZ	PIMCO 1 5	Pair Corr
0.82	PG	Procter Gamble	Pair Corr
0.86	DD	Dupont De Nemours	Pair Corr
0.64	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.72	GE	GE Aerospace	Pair Corr
0.65	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.69	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.72	JNJ	Johnson Johnson	Pair Corr
0.82	MRK	Merck Company	Pair Corr
0.74	KO	Coca Cola Aggressive Push	Pair Corr

Moving against First Etf

0.75	HPQ	HP Inc Sell-off Trend	Pair Corr
0.69	MSFT	Microsoft	Pair Corr
0.65	IBM	International Business	Pair Corr
0.31	DIS	Walt Disney Sell-off Trend	Pair Corr

Related Correlations Analysis

	FFIU	MAXI	AGGA	FUSI	CGHY	GMUB	XRLX	XFLX	AMUU	XOMO
FFIU		-0.59	0.8	0.57	0.66	0.69	0.36	0.75	-0.38	0.56	FFIU
MAXI	-0.59		-0.78	-0.87	-0.59	-0.84	-0.05	-0.55	0.66	-0.88	MAXI
AGGA	0.8	-0.78		0.85	0.91	0.94	0.49	0.93	-0.42	0.8	AGGA
FUSI	0.57	-0.87	0.85		0.79	0.95	0.23	0.66	-0.4	0.96	FUSI
CGHY	0.66	-0.59	0.91	0.79		0.87	0.64	0.93	-0.14	0.73	CGHY
GMUB	0.69	-0.84	0.94	0.95	0.87		0.36	0.8	-0.43	0.92	GMUB
XRLX	0.36	-0.05	0.49	0.23	0.64	0.36		0.7	0.3	0.2	XRLX
XFLX	0.75	-0.55	0.93	0.66	0.93	0.8	0.7		-0.18	0.61	XFLX
AMUU	-0.38	0.66	-0.42	-0.4	-0.14	-0.43	0.3	-0.18		-0.4	AMUU
XOMO	0.56	-0.88	0.8	0.96	0.73	0.92	0.2	0.61	-0.4		XOMO
	FFIU	MAXI	AGGA	FUSI	CGHY	GMUB	XRLX	XFLX	AMUU	XOMO

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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

XOMO	+ 0.96	FUSI
GMUB	+ 0.95	FUSI
GMUB	+ 0.94	AGGA
XFLX	+ 0.93	AGGA
XFLX	+ 0.93	CGHY
XOMO	+ 0.92	GMUB

High negative correlations

XOMO	- 0.88	MAXI
FUSI	- 0.87	MAXI
GMUB	- 0.84	MAXI
AGGA	- 0.78	MAXI
CGHY	- 0.59	MAXI
MAXI	- 0.59	FFIU

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. A thorough review of First Trust's risk-adjusted indicators provides a clearer picture of whether returns are being earned efficiently. 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
FFIU	0.29	-0.02	0.00	-1.06	0.00	0.00	0.77	-0.63	2.48
MAXI	3.31	-0.44	0.00	-0.21	0.00	0.00	7.76	-7.43	22.67
AGGA	0.08	-0.01	0.28	-0.17	0.09	-0.09	0.16	-0.16	0.56
FUSI	0.04	0.01	0.87	1.78	0.00	-0.05	0.08	-0.06	0.36
CGHY	0.13	0.00	0.17	-0.06	0.18	-0.15	0.24	-0.35	1.39
GMUB	0.11	0.01	0.41	-6.19	0.00	-0.13	0.29	-0.20	0.86
XRLX	0.38	-0.02	0.00	-0.11	0.00	0.00	0.70	-0.90	2.11
XFLX	0.17	-0.01	0.00	-0.12	0.00	0.00	0.40	-0.40	1.07
AMUU	5.06	-0.18	0.00	-0.10	0.00	0.00	12.64	-9.57	49.96
XOMO	1.08	0.34	0.28	3.05	1.02	-1.27	2.58	-1.87	5.94

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