First Trust Correlations

DMAR Etf

USD 38.85 0.01 0.03%

The current 90-days correlation between First Trust Exchange and FT Cboe Vest is 0.22 (i.e., Modest 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

Good diversification

The correlation between First Trust Exchange Traded and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange Traded and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Etf

0.93	BUFR	First Trust Cboe	Pair Corr
0.91	BUFD	FT Cboe Vest	Pair Corr
0.91	PSEP	Innovator SP 500	Pair Corr
0.86	PJAN	Innovator SP 500	Pair Corr
0.91	PJUL	Innovator SP 500	Pair Corr
0.92	PAUG	Innovator Equity Power	Pair Corr
0.84	DNOV	FT Cboe Vest	Pair Corr
0.94	PMAY	Innovator SP 500	Pair Corr
0.94	PJUN	Innovator SP 500	Pair Corr
0.81	VTI	Vanguard Total Stock	Pair Corr
0.83	SPY	SPDR SP 500	Pair Corr
0.83	IVV	iShares Core SP	Pair Corr
0.86	VUG	Vanguard Growth Index	Pair Corr
0.77	BAC	Bank of America Sell-off Trend	Pair Corr
0.81	JPM	JPMorgan Chase	Pair Corr
0.89	AXP	American Express	Pair Corr
0.68	MMM	3M Company	Pair Corr
0.73	IBM	International Business Upward Rally	Pair Corr
0.87	WMT	Walmart Aggressive Push	Pair Corr
0.87	CSCO	Cisco Systems	Pair Corr
0.61	MSFT	Microsoft Downward Rally	Pair Corr

Moving against First Etf

0.43	VWO	Vanguard FTSE Emerging	Pair Corr
0.52	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.48	HPQ	HP Inc	Pair Corr
0.48	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.45	INTC	Intel	Pair Corr
0.42	MRK	Merck Company Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DFEB	DAPR	DJAN	DNOV	DMAY
DFEB		0.4	0.97	0.84	0.94	DFEB
DAPR	0.4		0.4	0.4	0.39	DAPR
DJAN	0.97	0.4		0.75	0.85	DJAN
DNOV	0.84	0.4	0.75		0.92	DNOV
DMAY	0.94	0.39	0.85	0.92		DMAY
	DFEB	DAPR	DJAN	DNOV	DMAY

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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
DFEB	0.17	0.03	(0.16)	0.39	0.07	(0.17)	0.47	(0.38)	1.81
DAPR	0.17	0.03	(0.15)	0.26	0.00	(0.19)	0.47	(0.38)	1.62
DJAN	0.12	0.03	(0.20)	0.88	0.00	(0.14)	0.36	(0.18)	1.26
DNOV	0.24	0.02	(0.13)	0.22	0.32	(0.25)	0.51	(0.65)	1.71
DMAY	0.30	0.02	(0.10)	0.21	0.37	(0.31)	0.65	(0.72)	2.58

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