First Trust Correlations

DEED Etf

USD 21.86 0.07 0.32%

The current 90-days correlation between First Trust TCW and Simplify Exchange Traded is 0.01 (i.e., Significant 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

Poor diversification

The correlation between First Trust TCW and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust TCW and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

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

Moving together with First Etf

0.95	JHMB	John Hancock Exchange	Pair Corr
0.94	MTGP	WisdomTree Mortgage Plus	Pair Corr
0.89	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.95	FSEC	Fidelity Investment Grade	Pair Corr
0.69	MUU	Direxion Daily MU	Pair Corr
0.69	MULL	GraniteShares 2x Long	Pair Corr
0.76	KORU	Direxion Daily South	Pair Corr
0.62	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.68	JNUG	Direxion Daily Junior	Pair Corr
0.73	FNGD	MicroSectors FANG Index	Pair Corr
0.7	NUGT	Direxion Daily Gold	Pair Corr
0.67	BWET	ETF Managers Group	Pair Corr
0.63	SHNY	Microsectors Gold	Pair Corr
0.79	FIDU	Fidelity MSCI Industrials	Pair Corr
0.72	SIL	Global X Silver	Pair Corr
0.75	PFFA	Virtus InfraCap Preferred	Pair Corr
0.86	TAXT	Northern Trust Tax	Pair Corr
0.79	UDI	USCF ETF Trust	Pair Corr
0.81	FNDC	Schwab Fundamental	Pair Corr
0.87	BSMS	Invesco BulletShares 2028	Pair Corr
0.69	LSEQ	Harbor ETF Trust	Pair Corr
0.78	ESML	iShares ESG Aware	Pair Corr
0.69	WLTG	ETF Opportunities Trust	Pair Corr
0.71	IAUM	iShares Gold Trust	Pair Corr
0.82	SCZ	iShares MSCI EAFE	Pair Corr
0.76	EWT	iShares MSCI Taiwan	Pair Corr
0.72	EMES	Harbor ETF Trust	Pair Corr
0.88	JPIE	JP Morgan Exchange	Pair Corr
0.81	RNMC	First Trust Mid	Pair Corr
0.74	JANW	AIM ETF Products	Pair Corr
0.78	PMAY	Innovator SP 500	Pair Corr
0.77	CCNR	CoreCommodity Natural	Pair Corr
0.78	VIG	Vanguard Dividend	Pair Corr
0.83	PMIO	PGIM ETF Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

First Trust Competition 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
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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