First Trust Correlations

FBT Etf

USD 207.73 1.21 0.59%

The current 90-days correlation between First Trust NYSE and First Trust NASDAQ 100 is 0.02 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust NYSE and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NYSE 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 NYSE. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Etf

0.94	XLV	Health Care Select	Pair Corr
0.97	VHT	Vanguard Health Care	Pair Corr
0.98	IBB	iShares Biotechnology ETF	Pair Corr
0.96	XBI	SPDR SP Biotech	Pair Corr
0.85	IHI	iShares Medical Devices	Pair Corr
0.92	IXJ	iShares Global Healthcare	Pair Corr
0.97	IYH	iShares Healthcare ETF	Pair Corr
0.97	FHLC	Fidelity MSCI Health	Pair Corr
0.72	VTV	Vanguard Value Index	Pair Corr
0.65	VEA	Vanguard FTSE Developed	Pair Corr
0.62	DDFO	Innovator Equity Dual	Pair Corr
0.9	JNJ	Johnson Johnson	Pair Corr
0.69	MCD	McDonalds	Pair Corr
0.81	CAT	Caterpillar	Pair Corr
0.78	TRV	The Travelers Companies	Pair Corr
0.77	AXP	American Express	Pair Corr
0.92	MRK	Merck Company	Pair Corr
0.91	CSCO	Cisco Systems	Pair Corr
0.78	KO	Coca Cola	Pair Corr
0.91	DD	Dupont De Nemours	Pair Corr
0.72	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.78	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against First Etf

0.66	IHF	iShares Healthcare	Pair Corr
0.85	HD	Home Depot	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.52	T	ATT Inc	Pair Corr
0.35	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	QQXT	ILCV	CGIE	LGLV	FVAL	GPIX	OIH	FTA	FNX	HFXI
QQXT		0.56	0.7	0.62	0.67	0.69	0.28	0.72	0.78	0.64	QQXT
ILCV	0.56		0.7	0.38	0.94	0.81	0.84	0.91	0.57	0.82	ILCV
CGIE	0.7	0.7		0.52	0.85	0.76	0.47	0.76	0.74	0.8	CGIE
LGLV	0.62	0.38	0.52		0.39	0.2	-0.03	0.67	0.7	0.25	LGLV
FVAL	0.67	0.94	0.85	0.39		0.89	0.76	0.89	0.67	0.9	FVAL
GPIX	0.69	0.81	0.76	0.2	0.89		0.73	0.72	0.53	0.92	GPIX
OIH	0.28	0.84	0.47	-0.03	0.76	0.73		0.64	0.25	0.68	OIH
FTA	0.72	0.91	0.76	0.67	0.89	0.72	0.64		0.75	0.76	FTA
FNX	0.78	0.57	0.74	0.7	0.67	0.53	0.25	0.75		0.46	FNX
HFXI	0.64	0.82	0.8	0.25	0.9	0.92	0.68	0.76	0.46		HFXI
	QQXT	ILCV	CGIE	LGLV	FVAL	GPIX	OIH	FTA	FNX	HFXI

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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

FVAL	+ 0.94	ILCV
HFXI	+ 0.92	GPIX
FTA	+ 0.91	ILCV
HFXI	+ 0.9	FVAL
GPIX	+ 0.89	FVAL
FTA	+ 0.89	FVAL

High negative correlations

OIH

- 0.03

LGLV

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
QQXT	0.50	0.00	(0.07)	0.07	0.65	(0.52)	0.98	(1.02)	2.82
ILCV	0.51	0.03	0.03	0.09	0.51	(0.54)	1.18	(0.83)	2.52
CGIE	0.63	0.02	0.01	0.08	0.77	(0.62)	1.22	(1.20)	3.25
LGLV	0.45	(0.05)	0.00	(0.04)	0.00	0.00	0.94	(0.91)	2.36
FVAL	0.57	0.03	0.03	0.08	0.76	(0.56)	1.27	(1.16)	3.20
GPIX	0.49	0.04	(0.01)	0.38	0.69	(0.46)	1.02	(0.94)	2.82
OIH	1.40	0.16	0.08	0.19	1.85	(1.41)	3.00	(2.93)	9.53
FTA	0.59	0.02	0.01	0.08	0.66	(0.63)	1.16	(1.07)	3.31
FNX	0.84	(0.04)	(0.02)	0.02	1.04	(0.85)	1.79	(1.69)	4.13
HFXI	0.52	0.10	0.06	0.73	0.63	(0.56)	1.16	(1.14)	3.16

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