First Trust Correlations

FBZ Etf

USD 11.52 0.00 0.00%

The current 90-days correlation between First Trust and AdvisorShares Vice ETF 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

Very poor diversification

The correlation between First Trust and DJI is 0.88 (i.e., Very 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

0.76	EWZ	iShares MSCI Brazil	Pair Corr
0.83	ILF	iShares Latin America	Pair Corr
0.75	FLBR	Franklin FTSE Brazil	Pair Corr
0.66	EWZS	iShares MSCI Brazil	Pair Corr
0.82	FLLA	Franklin FTSE Latin	Pair Corr
0.73	BRF	VanEck Brazil Small	Pair Corr
0.68	TOT	Advisor Managed Port	Pair Corr
0.8	SHLD	Global X Defense	Pair Corr
0.74	LUX	Tema Global	Pair Corr
0.77	FB	ProShares Trust ProShares	Pair Corr
0.83	SWP	SWP Growth Income	Pair Corr
0.71	FNGD	MicroSectors FANG Index	Pair Corr
0.74	CALY	Callaway Golf Symbol Change	Pair Corr
0.88	ETHO	Amplify Etho Climate	Pair Corr
0.84	RNMC	First Trust Mid	Pair Corr
0.85	EDGI	Advisors Inner	Pair Corr
0.86	FNDA	Schwab Fundamental Small	Pair Corr
0.87	FNX	First Trust Mid	Pair Corr
0.84	NTSI	WisdomTree International	Pair Corr
0.83	FTCS	First Trust Capital	Pair Corr
0.86	HFMF	Unlimited HFMF Managed	Pair Corr
0.81	IJK	iShares SP Mid	Pair Corr
0.9	KNGZ	First Trust Exchange	Pair Corr
0.8	GEND	Spinnaker ETF Series	Pair Corr
0.79	WEEI	Westwood Salient Enhanced	Pair Corr
0.85	IYM	iShares Basic Materials	Pair Corr
0.76	HYP	Golden Eagle Dynamic	Pair Corr
0.88	VLU	SPDR SP 1500	Pair Corr
0.85	YDEC	First Trust Exchange	Pair Corr
0.85	VWO	Vanguard FTSE Emerging	Pair Corr
0.71	LALT	Invesco Multi Strategy	Pair Corr
0.66	ENFR	Alerian Energy Infra	Pair Corr
0.81	CNAV	Mohr Company	Pair Corr
0.72	MNZL	Manzil Russell Halal	Pair Corr

Moving against First Etf

0.52	HUM	Humana Inc	Pair Corr
0.35	IND	Xtrackers Nifty 500	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.1	-0.12	0.05	0.13	-0.26	-0.04	0.18	0.02	0.18	META
MSFT	-0.1		0.84	-0.64	-0.86	0.81	0.93	0.37	-0.92	-0.94	MSFT
UBER	-0.12	0.84		-0.57	-0.77	0.85	0.76	0.22	-0.82	-0.83	UBER
F	0.05	-0.64	-0.57		0.42	-0.55	-0.51	-0.1	0.72	0.67	F
T	0.13	-0.86	-0.77	0.42		-0.68	-0.85	-0.32	0.77	0.77	T
A	-0.26	0.81	0.85	-0.55	-0.68		0.69	0.28	-0.76	-0.85	A
CRM	-0.04	0.93	0.76	-0.51	-0.85	0.69		0.55	-0.84	-0.91	CRM
JPM	0.18	0.37	0.22	-0.1	-0.32	0.28	0.55		-0.2	-0.37	JPM
MRK	0.02	-0.92	-0.82	0.72	0.77	-0.76	-0.84	-0.2		0.92	MRK
XOM	0.18	-0.94	-0.83	0.67	0.77	-0.85	-0.91	-0.37	0.92		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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.81	MSFT
MRK	+ 0.77	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.92	MSFT
XOM	- 0.91	CRM
T	- 0.86	MSFT
XOM	- 0.85	A
CRM	- 0.85	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	1.50	0.05	0.02	0.13	1.55	(1.67)	3.43	(2.81)	13.69
MSFT	1.34	(0.29)	0.00	(0.49)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.57	(0.17)	0.00	(0.27)	0.00	0.00	2.70	(3.82)	11.09
F	1.27	0.00	0.00	0.07	1.37	(1.52)	3.61	(2.30)	7.50
T	1.03	0.17	0.07	(0.78)	0.94	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.46)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.82	(0.31)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.28	(0.11)	(0.03)	0.01	1.84	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.27	0.16	0.59	1.18	(1.39)	2.81	(2.06)	8.74
XOM	1.31	0.44	0.25	10.44	1.07	(1.56)	2.90	(2.44)	6.83

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.

Macquarie ETF Trust iShares Emerging Markets ProShares MSCI Emerging ProShares Ultra MSCI ProShares Ultra Consumer JPMorgan Fundamental Data Invesco Exchange Traded Grayscale Funds Trust AdvisorShares Vice ETF American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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