First Trust Correlations

FAN Etf

USD 22.83 0.21 0.91%

The current 90-days correlation between First Trust Global and SPDR SP Oil is -0.04 (i.e., Good 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

Poor diversification

The correlation between First Trust Global and DJI is 0.79 (i.e., Poor 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.

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 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

0.84	ICLN	iShares Global Clean	Pair Corr
0.82	XT	iShares Exponential	Pair Corr
0.9	TAN	Invesco Solar ETF	Pair Corr
0.92	QCLN	First Trust NASDAQ	Pair Corr
0.74	BOTZ	Global X Robotics	Pair Corr
0.93	DRIV	Global X Autonomous	Pair Corr
0.85	ACES	ALPS Clean Energy Downward Rally	Pair Corr
0.8	AGQ	ProShares Ultra Silver	Pair Corr
0.84	DFEN	Direxion Daily Aerospace	Pair Corr
0.89	DGP	DB Gold Double	Pair Corr
0.86	UGL	ProShares Ultra Gold Downward Rally	Pair Corr
0.81	NUGT	Direxion Daily Gold	Pair Corr
0.87	DIG	ProShares Ultra Oil	Pair Corr
0.9	URNM	Sprott Uranium Miners	Pair Corr
0.91	IBMR	iShares Trust	Pair Corr
0.71	OASC	OneAscent Small Cap	Pair Corr
0.85	SPMD	SPDR Russell Small	Pair Corr
0.63	SEIX	Virtus ETF Trust	Pair Corr
0.81	VBK	Vanguard Small Cap	Pair Corr
0.82	RDIV	Invesco SP Ultra	Pair Corr
0.91	BBEU	JPMorgan BetaBuilders	Pair Corr
0.74	AHYB	American Century ETF	Pair Corr
0.78	MART	Allianzim Large Cap	Pair Corr
0.76	GSIG	Goldman Sachs Access	Pair Corr
0.85	BINC	BlackRock ETF Trust	Pair Corr
0.82	GAPR	First Trust Exchange	Pair Corr
0.89	IAUM	iShares Gold Trust	Pair Corr

Moving against First Etf

0.75	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.4	IPAY	Amplify Digital Payments	Pair Corr

Related Correlations Analysis

	LFGY	MOTI	ROE	SIXL	NFTY	CZA	SRET	BFOR	BVAL	XES
LFGY		-0.03	-0.17	-0.59	0.0	-0.43	-0.33	-0.31	-0.36	-0.28	LFGY
MOTI	-0.03		0.91	0.71	-0.49	0.83	0.89	0.86	0.88	0.84	MOTI
ROE	-0.17	0.91		0.77	-0.46	0.94	0.85	0.97	0.97	0.85	ROE
SIXL	-0.59	0.71	0.77		-0.42	0.9	0.89	0.83	0.87	0.8	SIXL
NFTY	0.0	-0.49	-0.46	-0.42		-0.42	-0.47	-0.47	-0.4	-0.52	NFTY
CZA	-0.43	0.83	0.94	0.9	-0.42		0.87	0.98	0.98	0.83	CZA
SRET	-0.33	0.89	0.85	0.89	-0.47	0.87		0.86	0.89	0.87	SRET
BFOR	-0.31	0.86	0.97	0.83	-0.47	0.98	0.86		0.97	0.82	BFOR
BVAL	-0.36	0.88	0.97	0.87	-0.4	0.98	0.89	0.97		0.88	BVAL
XES	-0.28	0.84	0.85	0.8	-0.52	0.83	0.87	0.82	0.88		XES
	LFGY	MOTI	ROE	SIXL	NFTY	CZA	SRET	BFOR	BVAL	XES

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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

BFOR	+ 0.98	CZA
BVAL	+ 0.98	CZA
BFOR	+ 0.97	ROE
BVAL	+ 0.97	ROE
BVAL	+ 0.97	BFOR
CZA	+ 0.94	ROE

High negative correlations

SIXL	- 0.59	LFGY
XES	- 0.52	NFTY
NFTY	- 0.49	MOTI
BFOR	- 0.47	NFTY
SRET	- 0.47	NFTY
NFTY	- 0.46	ROE

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
LFGY	1.92	(0.64)	0.00	(0.46)	0.00	0.00	2.94	(5.59)	10.29
MOTI	0.61	0.00	(0.01)	0.04	0.68	(0.66)	1.11	(1.08)	2.93
ROE	0.73	0.02	0.02	0.06	0.92	(0.75)	1.34	(1.66)	3.56
SIXL	0.45	0.10	0.12	0.28	0.38	(0.54)	1.13	(0.69)	3.41
NFTY	0.62	(0.03)	0.00	(0.03)	0.00	0.00	1.16	(0.99)	4.61
CZA	0.59	0.07	0.10	0.12	0.53	(0.67)	1.47	(1.09)	3.58
SRET	0.44	0.09	0.11	0.35	0.40	(0.49)	0.90	(0.65)	3.04
BFOR	0.70	0.06	0.08	0.10	0.73	(0.76)	1.69	(1.45)	3.56
BVAL	0.50	0.05	0.07	0.11	0.49	(0.56)	1.12	(1.06)	2.92
XES	1.43	0.29	0.15	0.31	1.67	(1.49)	3.29	(3.31)	9.80

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