First Trust Correlations

BNGE Etf

USD 27.96 0.08 0.29%

The current 90-days correlation between First Trust S and Vanguard Industrials Index is 0.49 (i.e., Very weak 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.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust S Network and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust S Network and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in First Trust S Network. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with First Etf

0.92	XLC	Communication Services Sell-off Trend	Pair Corr
0.91	VOX	Vanguard Communication	Pair Corr
0.91	FCOM	Fidelity MSCI Commun	Pair Corr
0.88	IYZ	IShares Telecommunicatio	Pair Corr
0.98	ESPO	VanEck Video Gaming	Pair Corr
0.91	IXP	iShares Global Comm	Pair Corr
0.69	HERO	Global X Video	Pair Corr
0.71	SOCL	Global X Social	Pair Corr
0.77	GAMR	Amplify ETF Trust	Pair Corr
0.83	PULS	PGIM Ultra Short	Pair Corr
0.73	MPAY	Akros Monthly Payout	Pair Corr
0.89	BUFF	Innovator Laddered	Pair Corr
0.85	BTC	Grayscale Bitcoin Mini	Pair Corr
0.87	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.83	WMT	Walmart Aggressive Push	Pair Corr
0.76	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.9	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.68	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.79	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.81	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.77	HD	Home Depot	Pair Corr
0.65	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Moving against First Etf

0.87	BITI	ProShares Trust	Pair Corr
0.53	GREI	Goldman Sachs Future	Pair Corr
0.89	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.79	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.73	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	VIS	VAW	VCR	VDC	VPU
VIS		0.76	0.92	-0.26	0.66	VIS
VAW	0.76		0.55	-0.1	0.76	VAW
VCR	0.92	0.55		-0.19	0.55	VCR
VDC	-0.26	-0.1	-0.19		0.08	VDC
VPU	0.66	0.76	0.55	0.08		VPU
	VIS	VAW	VCR	VDC	VPU

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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

VCR	+ 0.92	VIS
VAW	+ 0.76	VIS
VPU	+ 0.76	VAW
VPU	+ 0.66	VIS
VCR	+ 0.55	VAW
VPU	+ 0.55	VCR

High negative correlations

VDC	- 0.26	VIS
VDC	- 0.19	VCR
VDC	- 0.1	VAW

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
VIS	0.71	0.04	0.07	0.15	0.61	(0.84)	1.76	(1.14)	5.86
VAW	0.71	(0.03)	(0.05)	0.08	0.76	(0.77)	1.56	(1.18)	4.13
VCR	0.89	0.10	0.11	0.22	0.77	(1.03)	2.10	(1.57)	4.79
VDC	0.47	0.01	(0.16)	0.22	0.50	(0.50)	0.83	(0.91)	2.09
VPU	0.75	0.10	0.00	0.58	0.78	(0.86)	1.70	(1.40)	4.65

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