First Trust Correlations

Etfs . USA . 
Etf . First Trust Brazil
FBZ Etf  USD 9.20  0.09  0.99%   
The current 90-days correlation between First Trust Brazil and First Trust Latin is 0.83 (i.e., Very poor 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

Average diversification

The correlation between First Trust Brazil and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Brazil and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Brazil. 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

  0.81EWZ iShares MSCI Brazil Aggressive PushPairCorr
  0.81ILF iShares Latin AmericaPairCorr
  0.99FLBR Franklin FTSE BrazilPairCorr
  0.79EWZS iShares MSCI BrazilPairCorr
  0.75FLLA Franklin FTSE LatinPairCorr
  0.81BRF VanEck Brazil SmallPairCorr
  0.88JNJ Johnson Johnson Earnings Call TomorrowPairCorr
  0.65VZ Verizon Communications Earnings Call TodayPairCorr
  0.78INTC Intel Earnings Call This WeekPairCorr
  0.9XOM Exxon Mobil Corp Aggressive PushPairCorr
  0.64KO Coca Cola Aggressive PushPairCorr

Moving against First Etf

  0.94ICSH iShares Ultra ShortPairCorr
  0.72PULS PGIM Ultra ShortPairCorr
  0.68SPAQ Horizon Kinetics SPACPairCorr
  0.64QQQ Invesco QQQ Trust Aggressive PushPairCorr
  0.62HFGO Hartford Large CapPairCorr
  0.56XLY Consumer DiscretionaryPairCorr
  0.45CPST Calamos ETF TrustPairCorr
  0.38MPAY Akros Monthly PayoutPairCorr
  0.75WMT WalmartPairCorr
  0.7CSCO Cisco Systems Aggressive PushPairCorr
  0.68AXP American Express Earnings Call This WeekPairCorr
  0.58DIS Walt DisneyPairCorr
  0.45BETE ProShares TrustPairCorr
  0.34MSFT Microsoft Earnings Call This WeekPairCorr

Related Correlations Analysis

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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   
FPA
+ 0.9
FLN
FSZ
+ 0.71
FLN
FSZ
+ 0.7
FPA
FJP
+ 0.38
FGM
FPA
+ 0.18
FGM
FSZ
+ 0.16
FGM
  
High negative correlations   
FSZ
- 0.12
FJP

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.

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