First Trust Correlations

FCA Etf

USD 19.55 0.18 0.93%

The current 90-days correlation between First Trust China and First Trust Japan is 0.16 (i.e., Average 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.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust China and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust China 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 China. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.97	KWEB	KraneShares CSI China	Pair Corr
0.98	FXI	iShares China Large	Pair Corr
0.64	EWT	iShares MSCI Taiwan Sell-off Trend	Pair Corr
0.96	ASHR	Xtrackers Harvest CSI	Pair Corr
0.98	GXC	SPDR SP China	Pair Corr
0.95	CQQQ	Invesco China Technology	Pair Corr
0.97	CXSE	WisdomTree China	Pair Corr
0.96	EWH	iShares MSCI Hong	Pair Corr
0.98	KBA	KraneShares Bosera MSCI	Pair Corr
0.96	CNYA	iShares MSCI China	Pair Corr
0.62	EWC	iShares MSCI Canada Sell-off Trend	Pair Corr
0.65	BST	BlackRock Science Tech	Pair Corr
0.77	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.76	HD	Home Depot	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.63	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.71	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.85	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.73	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Moving against First Etf

0.81	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.31	IRET	Tidal Trust II	Pair Corr
0.43	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	FJP	FPA	FBZ	FLN	FEM
FJP		0.41	0.55	0.6	0.58	FJP
FPA	0.41		0.08	0.23	0.78	FPA
FBZ	0.55	0.08		0.94	0.32	FBZ
FLN	0.6	0.23	0.94		0.44	FLN
FEM	0.58	0.78	0.32	0.44		FEM
	FJP	FPA	FBZ	FLN	FEM

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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
FJP	1.18	(0.07)	(0.07)	0.02	1.59	(1.13)	2.15	(2.48)	7.07
FPA	1.04	(0.03)	(0.06)	0.07	1.19	(1.09)	2.57	(2.04)	5.93
FBZ	0.99	(0.15)	0.00	(0.29)	0.00	0.00	2.16	(2.16)	5.54
FLN	0.85	(0.18)	0.00	(0.28)	0.00	0.00	2.06	(1.81)	4.88
FEM	0.93	(0.08)	0.00	(0.09)	0.00	0.00	2.37	(2.31)	6.50

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