Correlation Between Blockchain Technologies and First Trust
Is diversification improved when Blockchain Technologies ETF and First Trust Canadian appear in the same portfolio? Correlation context here helps quantify the diversifiable risk between Blockchain Technologies ETF and First Trust Canadian.
Cross-correlation between Blockchain Technologies ETF and First Trust Canadian helps estimate portfolio overlap before combining both positions. You can also test a long Blockchain Technologies and short First Trust structure to evaluate relative-value behavior. Review volatility patterns in Blockchain Technologies and First Trust. Go to your portfolio center
Diversification Opportunities for Blockchain Technologies and First Trust
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Blockchain and First is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Blockchain Technologies ETF and First Trust Canadian in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Trust Canadian and Blockchain Technologies is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Blockchain Technologies ETF are associated (or correlated) with First Trust. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Trust Canadian has no effect on the direction of Blockchain Technologies i.e., Blockchain Technologies and First Trust go up and down completely randomly.
Pair Corralation between Blockchain Technologies and First Trust
Assuming the 90-day trading horizon Blockchain Technologies ETF is expected to under-perform the First Trust. In addition to that, Blockchain Technologies is 4.28 times more volatile than First Trust Canadian. It trades about -0.04 of its total potential returns per unit of risk. First Trust Canadian is currently generating about 0.06 per unit of volatility. If you had invested C$ 7,079 in First Trust Canadian on December 12, 2025 and sold it today you would have earned a total of C$ 203.00 from holding First Trust Canadian or generated 2.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blockchain Technologies ETF vs. First Trust Canadian
Performance |
| Timeline |
| Blockchain Technologies |
Risk-Adjusted Performance
Weak
Weak | Strong |
| First Trust Canadian |
Risk-Adjusted Performance
Mild
Weak | Strong |
Blockchain Technologies and First Trust Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blockchain Technologies and First Trust
Pair trading between Blockchain Technologies and First Trust can reduce some unsystematic risk by balancing one position against another. The objective is to profit from relative movement while reducing dependence on the market's overall direction.| Blockchain Technologies vs. BetaPro SAMPP 500 | Blockchain Technologies vs. Evolve Future Leadership | Blockchain Technologies vs. Purpose Best Ideas | Blockchain Technologies vs. iShares MSCI USA |
| First Trust vs. iShares ESG Equity | First Trust vs. iShares MSCI Min | First Trust vs. Invesco RAFI Canadian | First Trust vs. Desjardins RI Developed |
Go to your portfolio centerThe information on this page should be treated as a complementary input when building or adjusting a diversified portfolio. The stronger workflow is to validate these signals with other models before acting. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
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