First Trust Correlations

FAD Etf

USD 169.20 0.24 0.14%

The current 90-days correlation between First Trust Multi and First Trust Consumer is 0.63 (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

Almost no diversification

The correlation between First Trust Multi and DJI is 0.93 (i.e., Almost no 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.

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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

0.92	IJK	iShares SP Mid	Pair Corr
0.97	JKH	iShares Morningstar Mid	Pair Corr
0.93	KOMP	SPDR Kensho New	Pair Corr
0.92	MDYG	SPDR SP 400	Pair Corr
0.97	IMCG	iShares Morningstar Mid	Pair Corr
0.94	ARKQ	ARK Autonomous Technology Low Volatility	Pair Corr
0.95	VTI	Vanguard Total Stock	Pair Corr
0.92	SPY	SPDR SP 500	Pair Corr
0.92	IVV	iShares Core SP	Pair Corr
0.95	TOT	Advisor Managed Port	Pair Corr
0.79	VTV	Vanguard Value Index	Pair Corr
0.96	VO	Vanguard Mid Cap	Pair Corr
0.92	TLCI	Touchstone ETF Trust	Pair Corr
0.71	SCDV	ETF Series Solutions	Pair Corr
0.95	VTHR	Vanguard Russell 3000	Pair Corr
0.91	SFLO	VictoryShares Small Cap	Pair Corr
0.91	CTEX	ProShares SP Kensho	Pair Corr
0.91	TOCT	Innovator Equity Defined	Pair Corr
0.71	QLV	FlexShares Quality Low	Pair Corr
0.69	XTWO	Bondbloxx ETF Trust	Pair Corr
0.61	LSEQ	Harbor ETF Trust	Pair Corr
0.9	PFFA	Virtus InfraCap Preferred	Pair Corr
0.77	FNDC	Schwab Fundamental	Pair Corr
0.82	SCZ	iShares MSCI EAFE	Pair Corr
0.8	FIDU	Fidelity MSCI Industrials	Pair Corr
0.77	EWT	iShares MSCI Taiwan	Pair Corr
0.78	JPIE	JP Morgan Exchange	Pair Corr
0.9	HCOW	Amplify Cash Flow	Pair Corr
0.92	WDNA	WisdomTree BioRevolution	Pair Corr
0.87	SIL	Global X Silver	Pair Corr

Related Correlations Analysis

	FEP	FNY	CDL	DAUG	DDEC	PKB	GJAN	QMOM	DJAN	FXD
FEP		0.86	0.88	0.88	0.84	0.88	0.89	0.93	0.89	0.78	FEP
FNY	0.86		0.68	0.92	0.9	0.79	0.92	0.95	0.91	0.91	FNY
CDL	0.88	0.68		0.63	0.55	0.96	0.62	0.8	0.62	0.57	CDL
DAUG	0.88	0.92	0.63		0.98	0.7	0.99	0.87	0.99	0.9	DAUG
DDEC	0.84	0.9	0.55	0.98		0.63	0.99	0.83	0.99	0.92	DDEC
PKB	0.88	0.79	0.96	0.7	0.63		0.69	0.87	0.68	0.69	PKB
GJAN	0.89	0.92	0.62	0.99	0.99	0.69		0.87	1.0	0.91	GJAN
QMOM	0.93	0.95	0.8	0.87	0.83	0.87	0.87		0.87	0.8	QMOM
DJAN	0.89	0.91	0.62	0.99	0.99	0.68	1.0	0.87		0.9	DJAN
FXD	0.78	0.91	0.57	0.9	0.92	0.69	0.91	0.8	0.9		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	0.67	0.16	0.15	0.27	0.63	(0.73)	1.66	(1.42)	3.84
FNY	0.96	0.06	0.07	0.12	0.96	(1.02)	1.94	(1.87)	6.10
CDL	0.50	0.14	0.17	0.42	0.23	(0.58)	1.21	(0.89)	2.59
DAUG	0.23	0.00	(0.13)	0.07	0.28	(0.24)	0.46	(0.61)	1.70
DDEC	0.25	0.01	(0.10)	0.10	0.29	(0.25)	0.60	(0.47)	2.13
PKB	1.11	0.17	0.15	0.20	1.02	(1.18)	2.49	(2.11)	5.33
GJAN	0.22	0.01	(0.10)	0.09	0.29	(0.22)	0.51	(0.61)	1.74
QMOM	1.13	0.13	0.08	0.19	1.39	(1.11)	1.99	(2.51)	6.70
DJAN	0.22	0.01	(0.09)	0.11	0.26	(0.22)	0.53	(0.51)	2.07
FXD	0.91	0.04	0.05	0.10	0.89	(1.04)	2.05	(1.67)	5.66

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First Trust Correlations

First Trust Correlation With Market

Almost no diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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