First Trust Correlations

FBZ Etf

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The current 90-days correlation between First Trust and KraneShares is -0.05 (i.e., Good 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

Good diversification

The correlation between First Trust and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust 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. 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

0.75	EWZ	iShares MSCI Brazil	Pair Corr
0.79	ILF	iShares Latin America	Pair Corr
0.71	FLBR	Franklin FTSE Brazil	Pair Corr
0.78	FLLA	Franklin FTSE Latin	Pair Corr
0.68	BRF	VanEck Brazil Small Potential Growth	Pair Corr
0.78	PXMV	Invesco SP MidCap	Pair Corr
0.69	TBXU	Direxion Shares ETF	Pair Corr
0.72	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.84	FGD	First Trust Dow	Pair Corr
0.65	INOV	Innovator ETFs Trust	Pair Corr
0.67	PFE	Pfizer Inc	Pair Corr
0.68	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.63	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.82	MRK	Merck Company	Pair Corr
0.66	CAT	Caterpillar Sell-off Trend	Pair Corr
0.61	JPM	JPMorgan Chase	Pair Corr
0.83	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.82	DD	Dupont De Nemours	Pair Corr

Moving against First Etf

0.6	ENTR	EntrepreneurShares	Pair Corr
0.45	DHF	BNY Mellon High	Pair Corr
0.34	PLT	Defiance Leveraged Long	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.7	MSFT	Microsoft	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.57	T	ATT Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.5	0.32	-0.45	0.3	-0.24	0.34	-0.22	-0.32	-0.43	META
MSFT	0.5		0.81	-0.55	0.46	0.03	0.09	-0.46	-0.83	-0.66	MSFT
UBER	0.32	0.81		-0.49	0.47	0.32	-0.16	-0.47	-0.78	-0.54	UBER
F	-0.45	-0.55	-0.49		-0.7	0.02	0.26	0.64	0.71	0.74	F
T	0.3	0.46	0.47	-0.7		0.32	-0.52	-0.61	-0.5	-0.65	T
A	-0.24	0.03	0.32	0.02	0.32		-0.56	-0.29	-0.09	-0.09	A
CRM	0.34	0.09	-0.16	0.26	-0.52	-0.56		0.54	0.16	0.14	CRM
JPM	-0.22	-0.46	-0.47	0.64	-0.61	-0.29	0.54		0.64	0.53	JPM
MRK	-0.32	-0.83	-0.78	0.71	-0.5	-0.09	0.16	0.64		0.78	MRK
XOM	-0.43	-0.66	-0.54	0.74	-0.65	-0.09	0.14	0.53	0.78		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.81	MSFT
XOM	+ 0.78	MRK
XOM	+ 0.74	F
MRK	+ 0.71	F
JPM	+ 0.64	F
MRK	+ 0.64	JPM

High negative correlations

MRK	- 0.83	MSFT
MRK	- 0.78	UBER
T	- 0.7	F
XOM	- 0.66	MSFT
XOM	- 0.65	T
JPM	- 0.61	T

First Trust Competition 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
META	1.32	(0.28)	0.00	(0.20)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.93	(0.17)	0.00	1.61	0.00	0.00	1.65	(2.50)	4.90
UBER	1.46	(0.23)	0.00	(0.17)	0.00	0.00	2.60	(3.82)	10.23
F	1.41	0.28	0.14	1.45	1.25	(1.70)	3.38	(2.35)	16.30
T	0.90	(0.10)	0.00	3.59	0.00	0.00	1.63	(1.85)	5.78
A	1.14	(0.09)	(0.05)	0.02	1.39	(1.20)	2.34	(2.22)	6.50
CRM	1.58	(0.08)	0.00	(4.41)	0.00	0.00	3.66	(3.61)	12.37
JPM	1.14	0.00	(0.04)	0.09	1.66	(1.13)	2.00	(2.34)	7.38
MRK	1.22	0.36	0.25	0.78	0.97	(1.55)	3.59	(1.98)	8.09
XOM	1.07	0.23	0.12	2.92	0.98	(1.24)	2.37	(1.51)	5.82

First Trust Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with First Trust etf to make a market-neutral strategy. Peer analysis of First Trust could also be used in its relative valuation, which is a method of valuing First Trust by comparing valuation metrics with similar companies.

KraneShares NEOS Investment Management Nuveen Syntax Impact Shares Tuttle Capital Management Arrow Investment Advisors Amplify IShares JPMorgan American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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