First Trust Correlations

CIBR Etf

USD 69.56 1.95 2.73%

The current 90-days correlation between First Trust NASDAQ and Vanguard FTSE Pacific is 0.16 (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

Very good diversification

The correlation between First Trust NASDAQ and DJI is -0.38 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NASDAQ 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 NASDAQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Etf

0.69	VGT	Vanguard Information	Pair Corr
0.64	IYW	iShares Technology ETF	Pair Corr
0.87	IGV	iShares Expanded Tech	Pair Corr
0.82	FDN	First Trust Dow	Pair Corr
0.85	HPQ	HP Inc	Pair Corr
0.85	MSFT	Microsoft	Pair Corr
0.61	IBM	International Business	Pair Corr

Moving against First Etf

0.7	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.69	NUGT	Direxion Daily Gold	Pair Corr
0.68	JNUG	Direxion Daily Junior	Pair Corr
0.67	GDXU	MicroSectors Gold Miners	Pair Corr
0.67	SLVR	Sprott Silver Miners	Pair Corr
0.66	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.63	SHNY	Microsectors Gold Trending	Pair Corr
0.59	MUU	Direxion Daily MU	Pair Corr
0.59	MULL	GraniteShares 2x Long	Pair Corr
0.48	KORU	Direxion Daily South	Pair Corr
0.36	SMH	VanEck Semiconductor ETF	Pair Corr
0.36	SOXX	iShares Semiconductor ETF	Pair Corr
0.8	MRK	Merck Company Earnings Call This Week	Pair Corr
0.69	DD	Dupont De Nemours Sell-off Trend	Pair Corr
0.6	WMT	Walmart Common Stock	Pair Corr
0.54	CAT	Caterpillar	Pair Corr
0.52	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.48	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.47	KO	Coca Cola Aggressive Push	Pair Corr
0.43	CVX	Chevron Corp Earnings Call Today	Pair Corr
0.4	TRV	The Travelers Companies	Pair Corr
0.35	MCD	McDonalds	Pair Corr
0.32	INTC	Intel	Pair Corr
0.31	VZ	Verizon Communications Earnings Call Today	Pair Corr

Related Correlations Analysis

	XLG	SCHE	VTMFX	NOBL	HDV	ESGV	DFAS	SPTM	VPADX	VPL
XLG		0.12	0.41	-0.04	-0.15	0.59	0.19	0.46	0.13	0.18	XLG
SCHE	0.12		0.79	0.72	0.75	0.61	0.71	0.72	0.93	0.92	SCHE
VTMFX	0.41	0.79		0.79	0.68	0.93	0.87	0.99	0.87	0.83	VTMFX
NOBL	-0.04	0.72	0.79		0.94	0.55	0.92	0.75	0.87	0.85	NOBL
HDV	-0.15	0.75	0.68	0.94		0.41	0.82	0.61	0.86	0.84	HDV
ESGV	0.59	0.61	0.93	0.55	0.41		0.72	0.97	0.67	0.62	ESGV
DFAS	0.19	0.71	0.87	0.92	0.82	0.72		0.86	0.88	0.88	DFAS
SPTM	0.46	0.72	0.99	0.75	0.61	0.97	0.86		0.82	0.77	SPTM
VPADX	0.13	0.93	0.87	0.87	0.86	0.67	0.88	0.82		0.98	VPADX
VPL	0.18	0.92	0.83	0.85	0.84	0.62	0.88	0.77	0.98		VPL
	XLG	SCHE	VTMFX	NOBL	HDV	ESGV	DFAS	SPTM	VPADX	VPL

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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

SPTM	+ 0.99	VTMFX
VPL	+ 0.98	VPADX
SPTM	+ 0.97	ESGV
HDV	+ 0.94	NOBL
VPADX	+ 0.93	SCHE
ESGV	+ 0.93	VTMFX

High negative correlations

HDV	- 0.15	XLG
NOBL	- 0.04	XLG

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
XLG	0.61	0.02	(0.03)	0.31	0.89	(0.58)	1.11	(1.40)	4.45
SCHE	0.56	0.06	0.05	0.16	0.54	(0.64)	1.33	(1.12)	3.11
VTMFX	0.26	0.00	(0.07)	0.05	0.34	(0.27)	0.55	(0.57)	1.83
NOBL	0.56	0.06	0.05	0.15	0.55	(0.62)	1.24	(0.91)	3.16
HDV	0.49	0.10	0.10	0.35	0.39	(0.54)	1.38	(0.82)	2.75
ESGV	0.59	(0.02)	(0.03)	0.02	0.86	(0.56)	1.14	(1.35)	3.75
DFAS	0.78	0.09	0.05	0.33	0.81	(0.82)	1.96	(1.44)	4.40
SPTM	0.54	0.00	(0.02)	0.05	0.77	(0.53)	1.16	(1.20)	3.47
VPADX	0.64	0.14	0.13	0.25	0.63	(0.65)	1.55	(1.41)	3.33
VPL	0.65	0.17	0.13	1.02	0.71	(0.69)	1.58	(1.42)	3.24

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