First Trust Correlations

ILDR Etf

USD 33.50 0.96 2.79%

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

Good diversification

The correlation between First Trust Exchange Traded and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange Traded and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Exchange Traded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in world development indicators.

Moving together with First Etf

0.73	VUG	Vanguard Growth Index	Pair Corr
0.87	IWF	iShares Russell 1000	Pair Corr
0.87	IVW	iShares SP 500	Pair Corr
0.87	SPYG	SPDR Portfolio SP	Pair Corr
0.87	IUSG	iShares Core SP	Pair Corr
0.87	VONG	Vanguard Russell 1000 Potential Growth	Pair Corr
0.96	MGK	Vanguard Mega Cap	Pair Corr
0.87	VRGWX	Vanguard Russell 1000	Pair Corr
0.87	QQQM	Invesco NASDAQ 100	Pair Corr
0.88	IWY	iShares Russell Top	Pair Corr
0.68	VTI	Vanguard Total Stock	Pair Corr
0.97	SPY	SPDR SP 500	Pair Corr
0.97	IVV	iShares Core SP	Pair Corr
0.69	BND	Vanguard Total Bond	Pair Corr
0.82	MGOV	First Trust Exchange	Pair Corr
0.86	UMMA	Wahed Dow Jones	Pair Corr
0.63	JUNP	PGIM Large Cap	Pair Corr
0.77	DWAS	Invesco DWA SmallCap	Pair Corr
0.68	INDE	Matthews International	Pair Corr
0.86	HFMF	Unlimited HFMF Managed	Pair Corr
0.68	NVDY	YieldMax NVDA Option	Pair Corr
0.82	QMOM	Alpha Architect Quan	Pair Corr
0.67	IXJ	iShares Global Healthcare	Pair Corr
0.87	FLGV	Franklin Liberty Treasury	Pair Corr
0.82	AIPO	Defiance AI Power	Pair Corr
0.61	GAEM	Simplify Exchange Traded	Pair Corr
0.89	GLTR	abrdn Physical Precious	Pair Corr
0.83	KARS	KraneShares Electric	Pair Corr
0.84	UDEC	Innovator SP 500	Pair Corr
0.95	XJUN	First Trust Exchange	Pair Corr
0.86	FLSP	Franklin Liberty Sys	Pair Corr
0.72	BME	BlackRock Health Sciences	Pair Corr
0.75	PRF	Invesco FTSE RAFI	Pair Corr
0.89	MKOR	Matthews International	Pair Corr

Related Correlations Analysis

	BCHP	SHDG	OGIG	TMFM	AUGW	HFGO	HERO	GTEK	OCIO	QTOP
BCHP		0.16	0.1	-0.25	0.14	0.28	-0.17	0.24	0.18	0.22	BCHP
SHDG	0.16		0.87	-0.8	0.99	0.85	0.18	0.88	0.99	0.94	SHDG
OGIG	0.1	0.87		-0.67	0.89	0.81	0.46	0.85	0.87	0.79	OGIG
TMFM	-0.25	-0.8	-0.67		-0.79	-0.66	0.1	-0.72	-0.81	-0.85	TMFM
AUGW	0.14	0.99	0.89	-0.79		0.85	0.21	0.9	0.99	0.93	AUGW
HFGO	0.28	0.85	0.81	-0.66	0.85		0.18	0.95	0.85	0.8	HFGO
HERO	-0.17	0.18	0.46	0.1	0.21	0.18		0.19	0.17	0.04	HERO
GTEK	0.24	0.88	0.85	-0.72	0.9	0.95	0.19		0.89	0.79	GTEK
OCIO	0.18	0.99	0.87	-0.81	0.99	0.85	0.17	0.89		0.94	OCIO
QTOP	0.22	0.94	0.79	-0.85	0.93	0.8	0.04	0.79	0.94		QTOP
	BCHP	SHDG	OGIG	TMFM	AUGW	HFGO	HERO	GTEK	OCIO	QTOP

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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

AUGW	+ 0.99	SHDG
OCIO	+ 0.99	SHDG
OCIO	+ 0.99	AUGW
GTEK	+ 0.95	HFGO
QTOP	+ 0.94	SHDG
QTOP	+ 0.94	OCIO

High negative correlations

QTOP	- 0.85	TMFM
OCIO	- 0.81	TMFM
TMFM	- 0.8	SHDG
AUGW	- 0.79	TMFM
GTEK	- 0.72	TMFM
TMFM	- 0.67	OGIG

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
BCHP	2.67	0.02	0.01	0.10	4.68	(3.00)	3.85	(5.53)	41.38
SHDG	0.31	0.09	(0.02)	(0.78)	0.27	(0.33)	0.82	(0.49)	2.87
OGIG	0.83	0.09	(0.01)	(0.52)	0.98	(0.87)	1.62	(1.41)	5.31
TMFM	0.71	(0.14)	0.00	1.66	0.00	0.00	1.34	(1.27)	4.29
AUGW	0.19	0.04	(0.21)	(0.86)	0.04	(0.23)	0.45	(0.25)	1.55
HFGO	0.72	0.02	0.02	0.11	0.93	(0.78)	1.41	(1.60)	5.25
HERO	0.82	0.02	(0.08)	0.01	1.19	(0.79)	1.74	(1.36)	6.05
GTEK	1.04	0.07	0.08	0.14	1.12	(1.17)	2.22	(1.69)	7.05
OCIO	0.36	0.08	(0.02)	(3.51)	0.30	(0.40)	0.93	(0.51)	2.92
QTOP	0.69	0.20	0.09	(1.12)	0.80	(0.77)	1.41	(1.20)	4.98

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