First Trust Correlations

Etfs . USA . 
Etf . First Trust Multi
FAD Etf  USD 165.34  0.63  0.38%   
The current 90-days correlation between First Trust Multi and First Trust Europe is 0.65 (i.e., Poor 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 Multi and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Multi 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 Multi. 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

  0.61VOT Vanguard Mid CapPairCorr
  0.68IWP iShares Russell MidPairCorr
  0.87IJK iShares SP MidPairCorr
  0.7JKH iShares Morningstar MidPairCorr
  0.74KOMP SPDR Kensho NewPairCorr
  0.87MDYG SPDR SP 400PairCorr
  0.72IMCG iShares Morningstar MidPairCorr
  0.8ARKQ ARK Autonomous Technology Low VolatilityPairCorr
  0.8VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.74SPY SPDR SP 500 Sell-off TrendPairCorr
  0.74IVV iShares Core SP Sell-off TrendPairCorr
  0.73VUG Vanguard Growth IndexPairCorr
  0.88VO Vanguard Mid CapPairCorr
  0.66VEA Vanguard FTSE DevelopedPairCorr
  0.88VB Vanguard Small CapPairCorr
  0.84SAWS AAM Sawgrass SmallPairCorr
  0.67BATT Amplify Lithium BatteryPairCorr
  0.92GTR WisdomTree Target RangePairCorr
  0.74VOO Vanguard SP 500PairCorr
  0.64DFAX Dimensional WorldPairCorr
  0.64CSD Invesco SP SpinPairCorr
  0.74VONG Vanguard Russell 1000PairCorr
  0.71TJUL Innovator Etfs TrustPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FEP  0.61  0.05  0.03  0.14  0.70 
(0.63)
 1.39 
(1.41)
 2.93 
FNY  1.06 (0.06)(0.02) 0.03  1.40 
(1.00)
 1.94 
(2.29)
 6.47 
CDL  0.49 (0.03)(0.10) 0.02  0.58 
(0.51)
 1.02 
(1.05)
 2.60 
DAUG  0.24  0.00 (0.14) 0.07  0.27 
(0.24)
 0.51 
(0.48)
 1.38 
DDEC  0.23  0.02 (0.07) 0.14  0.21 
(0.24)
 0.60 
(0.47)
 1.47 
PKB  1.05  0.02 (0.04)(0.48) 1.37 
(1.05)
 2.18 
(2.34)
 6.30 
GJAN  0.22  0.01 (0.11) 0.11  0.20 
(0.24)
 0.48 
(0.50)
 1.49 
QMOM  1.02  0.06 (0.01)(0.40) 1.50 
(0.94)
 1.79 
(2.68)
 6.46 
DJAN  0.22  0.02 (0.08) 0.12  0.21 
(0.22)
 0.57 
(0.51)
 1.44 
FXD  0.89 (0.07)(0.04) 0.02  1.06 
(0.92)
 2.04 
(1.73)
 4.45 

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