First Trust Correlations

CARZ Etf

USD 86.78 0.61 0.70%

The current 90-days correlation between First Trust S and US Diversified Real is 0.1 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust S Network and DJI is 0.71 (i.e., Poor 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.

Build AI portfolio with First Etf

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 real.

Moving together with First Etf

0.99	SMH	VanEck Semiconductor ETF	Pair Corr
0.98	SOXX	iShares Semiconductor ETF	Pair Corr
0.71	MUU	Direxion Daily MU	Pair Corr
0.63	GDXU	MicroSectors Gold Miners	Pair Corr
0.71	MULL	GraniteShares 2x Long	Pair Corr
0.66	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.62	JNUG	Direxion Daily Junior	Pair Corr
0.76	KORU	Direxion Daily South	Pair Corr
0.61	NUGT	Direxion Daily Gold	Pair Corr
0.61	SHNY	Microsectors Gold Trending	Pair Corr
0.65	SLVR	Sprott Silver Miners	Pair Corr
0.71	CVX	Chevron Corp Earnings Call Tomorrow	Pair Corr
0.73	INTC	Intel	Pair Corr

Moving against First Etf

0.5	IGV	iShares Expanded Tech	Pair Corr
0.42	CIBR	First Trust NASDAQ	Pair Corr
0.58	T	ATT Inc Earnings Call This Week	Pair Corr
0.55	VZ	Verizon Communications Earnings Call Tomorrow	Pair Corr
0.51	TRV	The Travelers Companies	Pair Corr
0.34	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	FDRV	MARB	PSTR	EAOA	FRNW	FDAT	TXS	IMAR	DVLU	PPTY
FDRV		0.15	0.55	0.7	0.77	0.74	0.67	0.56	0.45	0.34	FDRV
MARB	0.15		0.78	0.66	0.24	0.6	0.59	0.79	0.74	0.59	MARB
PSTR	0.55	0.78		0.96	0.51	0.92	0.85	0.98	0.95	0.62	PSTR
EAOA	0.7	0.66	0.96		0.7	0.98	0.9	0.95	0.85	0.62	EAOA
FRNW	0.77	0.24	0.51	0.7		0.77	0.73	0.54	0.29	0.39	FRNW
FDAT	0.74	0.6	0.92	0.98	0.77		0.92	0.91	0.81	0.63	FDAT
TXS	0.67	0.59	0.85	0.9	0.73	0.92		0.81	0.72	0.63	TXS
IMAR	0.56	0.79	0.98	0.95	0.54	0.91	0.81		0.93	0.62	IMAR
DVLU	0.45	0.74	0.95	0.85	0.29	0.81	0.72	0.93		0.56	DVLU
PPTY	0.34	0.59	0.62	0.62	0.39	0.63	0.63	0.62	0.56		PPTY
	FDRV	MARB	PSTR	EAOA	FRNW	FDAT	TXS	IMAR	DVLU	PPTY

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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
FDRV	1.13	(0.10)	0.00	(0.02)	0.00	0.00	2.26	(2.07)	6.65
MARB	0.14	0.02	(0.12)	1.76	0.00	(0.21)	0.34	(0.19)	1.47
PSTR	0.37	0.03	0.01	0.10	0.39	(0.39)	0.75	(0.72)	2.06
EAOA	0.44	0.02	0.00	0.08	0.58	(0.43)	0.87	(1.02)	2.91
FRNW	1.27	0.09	0.06	0.13	1.52	(1.41)	2.17	(2.61)	8.93
FDAT	0.58	0.01	0.00	0.07	0.73	(0.59)	1.07	(1.19)	2.96
TXS	0.61	0.01	0.00	0.06	0.74	(0.62)	1.16	(1.15)	3.15
IMAR	0.22	0.03	(0.01)	0.16	0.16	(0.25)	0.54	(0.52)	1.35
DVLU	0.84	0.05	0.05	0.09	0.95	(0.89)	1.65	(1.55)	4.71
PPTY	0.58	0.01	(0.02)	0.08	0.62	(0.59)	1.42	(0.94)	3.40

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