First Trust Correlations

Etfs . USA . 
Etf . First Trust Global
FAN Etf  USD 15.66  0.09  0.58%   
The current 90-days correlation between First Trust Global and Invesco Global Clean is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Global and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Global 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 Global. 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

  0.88ICLN iShares Global CleanPairCorr
  0.82TAN Invesco Solar ETFPairCorr
  0.64QCLN First Trust NASDAQPairCorr
  0.78ACES ALPS Clean EnergyPairCorr
  0.83MSOS AdvisorShares PurePairCorr
  0.81MJ Amplify ETF TrustPairCorr
  0.83GREI Goldman Sachs FuturePairCorr
  0.84PFE Pfizer Inc Aggressive PushPairCorr
  0.65VZ Verizon Communications Aggressive PushPairCorr
  0.82KO Coca Cola Aggressive PushPairCorr

Moving against First Etf

  0.72IPAY Amplify ETF TrustPairCorr
  0.67FNTC DirexionPairCorr
  0.66PXMV Invesco SP MidCapPairCorr
  0.56MAGS Roundhill MagnificentPairCorr
  0.56IGA Voya Global AdvantagePairCorr
  0.43BOTZ Global X RoboticsPairCorr
  0.87JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.65DIS Walt DisneyPairCorr
  0.57WMT Walmart Aggressive PushPairCorr
  0.53TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.49AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.36T ATT Inc Aggressive PushPairCorr
  0.35INTC Intel Fiscal Year End 23rd of January 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
TAN
+ 0.91
PBD
ICLN
+ 0.91
TAN
ICLN
+ 0.88
PBD
QCLN
+ 0.73
PBD
QCLN
+ 0.71
TAN
ICLN
+ 0.63
QCLN
  
High negative correlations   
ICLN
- 0.32
PBW
PBW
- 0.09
TAN

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY