First Trust Correlations

FAD Etf

USD 170.54 0.11 0.06%

The current 90-days correlation between First Trust Multi and First Trust Europe is 0.67 (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

Significant diversification

The correlation between First Trust Multi and DJI is 0.03 (i.e., Significant 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

0.65	VOT	Vanguard Mid Cap	Pair Corr
0.79	IWP	iShares Russell Mid	Pair Corr
0.93	IJK	iShares SP Mid	Pair Corr
0.74	JKH	iShares Morningstar Mid	Pair Corr
0.75	KOMP	SPDR Kensho New	Pair Corr
0.93	MDYG	SPDR SP 400	Pair Corr
0.88	IMCG	iShares Morningstar Mid	Pair Corr
0.91	ARKQ	ARK Autonomous Technology Low Volatility	Pair Corr
0.7	GDXU	MicroSectors Gold Miners	Pair Corr
0.73	MUU	Direxion Daily MU Upward Rally	Pair Corr
0.73	MULL	GraniteShares 2x Long Upward Rally	Pair Corr
0.74	KORU	Direxion Daily South	Pair Corr
0.7	JNUG	Direxion Daily Junior	Pair Corr
0.7	AGQ	ProShares Ultra Silver Downward Rally	Pair Corr
0.68	NUGT	Direxion Daily Gold	Pair Corr
0.65	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.84	SPUT	Innovator ETFs Trust	Pair Corr
0.9	XLI	Industrial Select Sector Aggressive Push	Pair Corr
0.79	QTUM	Defiance Quantum ETF	Pair Corr
0.68	DXUV	Dimensional ETF Trust	Pair Corr
0.79	USHY	iShares Broad USD	Pair Corr
0.72	XLF	Financial Select Sector	Pair Corr
0.64	SCYB	Schwab Strategic Trust	Pair Corr
0.82	AVUV	Avantis Small Cap	Pair Corr
0.98	IWO	iShares Russell 2000	Pair Corr
0.69	PAPI	Morgan Stanley ETF	Pair Corr
0.81	DIHP	Dimensional International	Pair Corr
0.71	ESN	Essential 40 Stock	Pair Corr
0.73	FALN	iShares Fallen Angels	Pair Corr
0.93	VT	Vanguard Total World	Pair Corr
0.83	HEGD	Swan Hedged Equity	Pair Corr
0.9	SMH	VanEck Semiconductor ETF	Pair Corr

Related Correlations Analysis

	FEP	FNY	CDL	DAUG	DDEC	PKB	GJAN	QMOM	DJAN	FXD
FEP		0.73	0.8	0.94	0.96	0.51	0.73	0.66	0.96	0.81	FEP
FNY	0.73		0.61	0.81	0.69	0.91	0.67	0.89	0.72	0.83	FNY
CDL	0.8	0.61		0.75	0.78	0.5	0.47	0.43	0.78	0.66	CDL
DAUG	0.94	0.81	0.75		0.96	0.6	0.72	0.7	0.97	0.81	DAUG
DDEC	0.96	0.69	0.78	0.96		0.46	0.77	0.61	0.99	0.82	DDEC
PKB	0.51	0.91	0.5	0.6	0.46		0.49	0.82	0.49	0.69	PKB
GJAN	0.73	0.67	0.47	0.72	0.77	0.49		0.77	0.75	0.89	GJAN
QMOM	0.66	0.89	0.43	0.7	0.61	0.82	0.77		0.63	0.76	QMOM
DJAN	0.96	0.72	0.78	0.97	0.99	0.49	0.75	0.63		0.81	DJAN
FXD	0.81	0.83	0.66	0.81	0.82	0.69	0.89	0.76	0.81		FXD
	FEP	FNY	CDL	DAUG	DDEC	PKB	GJAN	QMOM	DJAN	FXD

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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
FEP	0.52	0.14	0.08	0.93	0.45	(0.56)	1.40	(1.16)	2.87
FNY	1.02	(0.05)	(0.02)	0.05	1.26	(1.01)	1.92	(2.05)	5.37
CDL	0.46	0.06	(0.07)	(0.63)	0.49	(0.51)	1.18	(1.01)	2.58
DAUG	0.21	0.02	(0.22)	0.39	0.21	(0.21)	0.46	(0.39)	1.31
DDEC	0.20	0.04	(0.16)	0.80	0.07	(0.22)	0.45	(0.36)	1.41
PKB	1.10	(0.05)	0.00	0.06	1.28	(1.10)	2.49	(2.34)	6.30
GJAN	0.18	0.02	(0.17)	0.17	0.04	(0.20)	0.43	(0.36)	1.32
QMOM	1.05	0.02	0.03	0.11	1.37	(1.02)	1.84	(2.51)	5.94
DJAN	0.19	0.04	(0.16)	0.82	0.06	(0.20)	0.47	(0.40)	1.44
FXD	0.86	(0.01)	0.01	0.09	0.91	(0.92)	2.04	(1.65)	4.45

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First Trust Correlations

First Trust Correlation With Market

Significant diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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