First Trust Correlations

DOGG Etf

20.85 0.06 0.29%

The current 90-days correlation between First Trust Exchange and FT Vest Equity is 0.11 (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.

First Trust Correlation With Market

Average diversification

The correlation between First Trust Exchange Traded and DJI is 0.17 (i.e., Average 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 price.

Moving together with First Etf

0.68	JEPI	JPMorgan Equity Premium	Pair Corr
0.71	DIVO	Amplify CWP Enhanced	Pair Corr
0.91	SIXH	ETC 6 Meridian	Pair Corr
0.74	BUYW	Main Buywrite ETF	Pair Corr
0.74	IDME	International Drawdown	Pair Corr
0.69	AMPD	Tidal Trust II	Pair Corr
0.79	KO	Coca Cola	Pair Corr
0.82	MMM	3M Company	Pair Corr
0.68	CVX	Chevron Corp	Pair Corr
0.82	T	ATT Inc Aggressive Push	Pair Corr
0.86	GE	GE Aerospace	Pair Corr

Moving against First Etf

0.54	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.66	MRK	Merck Company Aggressive Push	Pair Corr
0.57	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV
DHDG		0.88	0.76	0.55	0.56	0.95	0.96	-0.84	0.96	DHDG
MBCC	0.88		0.83	0.33	0.79	0.8	0.81	-0.77	0.85	MBCC
DIHP	0.76	0.83		0.58	0.76	0.78	0.78	-0.41	0.66	DIHP
DJAN	0.55	0.33	0.58		0.12	0.75	0.74	-0.22	0.55	DJAN
MDLV	0.56	0.79	0.76	0.12		0.5	0.5	-0.4	0.46	MDLV
DJUL	0.95	0.8	0.78	0.75	0.5		1.0	-0.74	0.94	DJUL
DJUN	0.96	0.81	0.78	0.74	0.5	1.0		-0.75	0.94	DJUN
SH	-0.84	-0.77	-0.41	-0.22	-0.4	-0.74	-0.75		-0.92	SH
VV	0.96	0.85	0.66	0.55	0.46	0.94	0.94	-0.92		VV
	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV

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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

DJUN	+ 1.0	DJUL
DJUN	+ 0.96	DHDG
VV	+ 0.96	DHDG
DJUL	+ 0.95	DHDG
VV	+ 0.94	DJUL
VV	+ 0.94	DJUN

High negative correlations

VV	- 0.92	SH
SH	- 0.84	DHDG
SH	- 0.77	MBCC
SH	- 0.75	DJUN
SH	- 0.74	DJUL
SH	- 0.41	DIHP

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
DHDG	0.37	0.01	0.05	0.01	0.53	(0.38)	0.71	(0.81)	2.56
MBCC	0.60	0.03	0.04	0.02	0.85	(0.59)	1.15	(1.26)	3.80
DIHP	0.53	0.09	0.13	0.18	0.63	(0.55)	1.26	(1.06)	3.68
DJAN	0.18	0.01	0.08	0.05	0.26	(0.18)	0.36	(0.49)	1.45
MDLV	0.50	0.04	0.06	0.08	0.75	(0.44)	0.95	(1.13)	2.62
DJUL	0.32	0.01	0.06	0.02	0.46	(0.31)	0.69	(0.79)	1.97
DJUN	0.33	0.01	0.06	0.02	0.49	(0.32)	0.62	(0.92)	2.30
SH	0.62	0.00	0.05	(0.02)	0.67	(0.73)	1.56	(1.11)	4.81
VV	0.64	0.01	0.02	0.00	0.99	(0.58)	1.16	(1.65)	4.02

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