First Trust Correlations

FBZ Etf

USD 11.52 0.00 0.00%

The current 90-days correlation between First Trust and JPMorgan is -0.06 (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

Poor diversification

The correlation between First Trust and DJI is 0.78 (i.e., Poor 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

0.66	ILF	iShares Latin America	Pair Corr
0.66	FLLA	Franklin FTSE Latin	Pair Corr
0.65	OIH	VanEck Oil Services	Pair Corr
0.83	WTMF	WisdomTree Managed	Pair Corr
0.89	EWC	iShares MSCI Canada	Pair Corr
0.68	TOT	Advisor Managed Port	Pair Corr
0.9	SEIX	Virtus ETF Trust	Pair Corr
0.8	ABI	VictoryShares Pioneer	Pair Corr
0.81	SPMD	SPDR Russell Small	Pair Corr
0.82	BBEU	JPMorgan BetaBuilders	Pair Corr
0.8	IBMR	iShares Trust	Pair Corr
0.86	VUSB	Vanguard Ultra Short Sell-off Trend	Pair Corr
0.78	YLD	Principal Active High	Pair Corr
0.77	SYLD	Cambria Shareholder Yield Low Volatility	Pair Corr
0.84	OASC	OneAscent Small Cap	Pair Corr
0.74	DBJP	Xtrackers MSCI Japan	Pair Corr
0.82	BINC	BlackRock ETF Trust	Pair Corr
0.87	EDEN	iShares MSCI Denmark	Pair Corr
0.76	VBK	Vanguard Small Cap	Pair Corr
0.64	RDIV	Invesco SP Ultra	Pair Corr
0.88	AHYB	American Century ETF	Pair Corr
0.84	GSIG	Goldman Sachs Access	Pair Corr
0.82	DDLS	WisdomTree Dynamic	Pair Corr
0.75	IAUM	iShares Gold Trust	Pair Corr
0.82	MART	Allianzim Large Cap	Pair Corr
0.86	GAPR	First Trust Exchange	Pair Corr

Moving against First Etf

0.47

ARKW

ARK Next Generation

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.45	-0.5	0.47	0.14	-0.57	-0.04	0.32	0.49	0.47	META
MSFT	-0.45		0.73	-0.53	-0.42	0.59	0.71	0.01	-0.8	-0.87	MSFT
UBER	-0.5	0.73		-0.48	-0.15	0.66	0.32	-0.16	-0.8	-0.63	UBER
F	0.47	-0.53	-0.48		-0.17	-0.35	-0.13	0.38	0.7	0.63	F
T	0.14	-0.42	-0.15	-0.17		-0.05	-0.6	-0.11	0.14	0.28	T
A	-0.57	0.59	0.66	-0.35	-0.05		0.26	-0.08	-0.49	-0.68	A
CRM	-0.04	0.71	0.32	-0.13	-0.6	0.26		0.5	-0.38	-0.7	CRM
JPM	0.32	0.01	-0.16	0.38	-0.11	-0.08	0.5		0.25	-0.07	JPM
MRK	0.49	-0.8	-0.8	0.7	0.14	-0.49	-0.38	0.25		0.76	MRK
XOM	0.47	-0.87	-0.63	0.63	0.28	-0.68	-0.7	-0.07	0.76		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

XOM	+ 0.76	MRK
UBER	+ 0.73	MSFT
CRM	+ 0.71	MSFT
MRK	+ 0.7	F
A	+ 0.66	UBER
XOM	+ 0.63	F

High negative correlations

XOM	- 0.87	MSFT
MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.7	CRM
XOM	- 0.68	A
XOM	- 0.63	UBER

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	1.51	0.02	(0.01)	0.11	1.55	(1.74)	3.43	(2.67)	13.69
MSFT	1.32	(0.41)	0.00	(0.89)	0.00	0.00	1.85	(2.74)	13.28
UBER	1.55	(0.47)	0.00	(0.70)	0.00	0.00	2.41	(5.06)	11.09
F	1.22	0.03	0.02	0.11	1.20	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.09	1.52	0.83	(1.06)	2.02	(1.54)	4.32
A	1.21	(0.26)	0.00	(0.14)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.71	(0.54)	0.00	(0.39)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.20	(0.04)	0.00	0.05	1.67	(1.24)	2.34	(3.11)	7.38
MRK	1.26	0.56	0.43	0.97	0.69	(1.62)	3.59	(1.93)	8.09
XOM	1.17	0.41	0.26	3.45	0.94	(1.39)	2.69	(2.11)	5.85

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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