First Trust Correlations

CIBR Etf

USD 62.91 0.96 1.50%

The current 90-days correlation between First Trust NASDAQ and Vanguard FTSE Pacific is 0.36 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Excellent diversification

The correlation between First Trust NASDAQ and DJI is -0.52 (i.e., Excellent 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

0.71	VGT	Vanguard Information	Pair Corr
0.66	XLK	Technology Select Sector	Pair Corr
0.79	IYW	iShares Technology ETF	Pair Corr
0.7	FTEC	Fidelity MSCI Information	Pair Corr
0.95	IGV	iShares Expanded Tech	Pair Corr
0.94	FDN	First Trust Dow	Pair Corr
0.82	IGM	iShares Expanded Tech	Pair Corr
0.66	MPAY	Exchange Traded Concepts	Pair Corr

Moving against First Etf

0.88	BSMS	Invesco BulletShares 2028	Pair Corr
0.81	AMPD	Tidal ETF Services	Pair Corr
0.7	SOXX	iShares Semiconductor ETF	Pair Corr
0.68	SMH	VanEck Semiconductor ETF	Pair Corr
0.61	CPST	Calamos ETF Trust	Pair Corr
0.51	ITWO	Proshares Russell 2000	Pair Corr
0.46	UAUG	Innovator Equity Ultra	Pair Corr
0.44	ELON	Battleshares TSLA	Pair Corr
0.89	TAXT	Northern Trust Tax	Pair Corr
0.87	DXJ	WisdomTree Japan Hedged	Pair Corr
0.86	NDIV	Amplify ETF Trust	Pair Corr
0.86	SPDV	AAM SP 500	Pair Corr
0.85	PID	Invesco International	Pair Corr
0.85	DFIC	Dimensional International	Pair Corr
0.8	UEVM	VictoryShares Emerging	Pair Corr
0.78	LALT	Invesco Multi Strategy	Pair Corr
0.77	FNK	First Trust Mid	Pair Corr
0.74	AUMI	Themes Gold Miners	Pair Corr
0.73	FNDA	Schwab Fundamental Small	Pair Corr
0.72	KNGZ	First Trust Exchange	Pair Corr
0.7	PSMR	Pacer Swan SOS	Pair Corr
0.66	ETHO	Amplify Etho Climate	Pair Corr
0.64	NAPR	Innovator Nasdaq 100	Pair Corr
0.52	IDRV	iShares Self Driving	Pair Corr
0.91	ERET	iShares Environmentally	Pair Corr
0.91	GCAL	Goldman Sachs ETF	Pair Corr
0.88	EMIF	iShares Emerging Markets	Pair Corr
0.88	VYMI	Vanguard International	Pair Corr
0.84	DVYE	iShares Emerging Markets	Pair Corr
0.84	IGEB	iShares Edge Investment	Pair Corr

Related Correlations Analysis

	XLG	SCHE	VTMFX	NOBL	HDV	ESGV	DFAS	SPTM	VPADX	VPL
XLG		-0.51	-0.17	-0.67	-0.72	0.8	-0.49	0.15	-0.64	-0.65	XLG
SCHE	-0.51		0.91	0.93	0.9	0.01	0.92	0.73	0.96	0.96	SCHE
VTMFX	-0.17	0.91		0.81	0.74	0.37	0.89	0.93	0.85	0.84	VTMFX
NOBL	-0.67	0.93	0.81		0.98	-0.2	0.94	0.59	0.97	0.97	NOBL
HDV	-0.72	0.9	0.74	0.98		-0.33	0.86	0.49	0.97	0.97	HDV
ESGV	0.8	0.01	0.37	-0.2	-0.33		0.07	0.66	-0.17	-0.18	ESGV
DFAS	-0.49	0.92	0.89	0.94	0.86	0.07		0.77	0.91	0.91	DFAS
SPTM	0.15	0.73	0.93	0.59	0.49	0.66	0.77		0.62	0.61	SPTM
VPADX	-0.64	0.96	0.85	0.97	0.97	-0.17	0.91	0.62		1.0	VPADX
VPL	-0.65	0.96	0.84	0.97	0.97	-0.18	0.91	0.61	1.0		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

VPL	+ 1.0	VPADX
HDV	+ 0.98	NOBL
VPADX	+ 0.97	NOBL
VPL	+ 0.97	NOBL
VPADX	+ 0.97	HDV
VPL	+ 0.97	HDV

High negative correlations

HDV	- 0.72	XLG
NOBL	- 0.67	XLG
VPL	- 0.65	XLG
VPADX	- 0.64	XLG
SCHE	- 0.51	XLG
DFAS	- 0.49	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	0.58	(0.06)	0.00	(0.02)	0.00	0.00	1.08	(1.40)	4.44
SCHE	0.63	0.10	0.09	0.24	0.60	(0.70)	1.62	(1.13)	4.51
VTMFX	0.26	0.02	(0.10)	0.12	0.22	(0.29)	0.49	(0.55)	1.83
NOBL	0.55	0.11	0.12	0.29	0.40	(0.64)	1.34	(0.91)	2.69
HDV	0.51	0.20	0.24	1.18	0.00	(0.60)	1.34	(0.71)	2.37
ESGV	0.58	(0.03)	(0.06)	0.04	0.75	(0.61)	1.13	(1.32)	3.75
DFAS	0.75	0.08	0.11	0.15	0.64	(0.84)	1.96	(1.44)	5.15
SPTM	0.53	0.01	(0.02)	0.09	0.61	(0.57)	1.05	(1.12)	3.52
VPADX	0.63	0.31	0.35	0.60	0.00	(0.74)	1.68	(1.02)	3.92
VPL	0.64	0.30	0.32	0.55	0.20	(0.78)	1.72	(1.14)	4.31

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