Correlation Between First Asset and First Trust
Can company-specific risk be reduced by holding First Asset Tech and First Trust Dow together? Use this page to interpret how First Asset Tech and First Trust Dow interact and how much diversifiable risk remains.
Cross-correlation between First Asset Tech and First Trust Dow helps estimate portfolio overlap before combining both positions. You can also test a long First Asset and short First Trust structure to evaluate relative-value behavior. Review volatility patterns in First Asset and First Trust. Go to your portfolio center
Diversification Opportunities for First Asset and First Trust
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between First and First is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding First Asset Tech and First Trust Dow in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Trust Dow and First Asset 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 First Asset Tech 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 Dow has no effect on the direction of First Asset i.e., First Asset and First Trust go up and down completely randomly.
Pair Corralation between First Asset and First Trust
Assuming the 90-day trading horizon First Asset Tech is expected to generate 1.13 times more return on investment than First Trust. However, First Asset is 1.13 times more volatile than First Trust Dow. It trades about -0.04 of its potential returns per unit of risk. First Trust Dow is currently generating about -0.14 per unit of risk. If you had invested C$ 2,292 in First Asset Tech on December 14, 2025 and sold it today you would have lost C$ 89.00 from holding First Asset Tech or given up 3.88% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
First Asset Tech vs. First Trust Dow
Performance |
| Timeline |
| First Asset Tech |
Risk-Adjusted Performance
Weak
Weak | Strong |
| First Trust Dow |
Risk-Adjusted Performance
Weak
Weak | Strong |
First Asset and First Trust Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with First Asset and First Trust
Pair trading between First Asset 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.| First Asset vs. Hamilton Technology Yield | First Asset vs. iShares SAMPPTSX Capped | First Asset vs. First Asset Morningstar | First Asset vs. CI Canada Quality |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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