First Trust Correlations

FCT Etf

USD 10.00 0.03 0.30%

The current 90-days correlation between First Trust Senior and Franklin Templeton Limited is 0.27 (i.e., Modest 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

Modest diversification

The correlation between First Trust Senior and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Senior 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, which includes a position in First Trust Senior. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Etf

0.8	AGQ	ProShares Ultra Silver	Pair Corr
0.7	FGD	First Trust Dow	Pair Corr
0.7	JEPI	JPMorgan Equity Premium	Pair Corr
0.65	IXUS	iShares Core MSCI	Pair Corr
0.72	SPDW	SPDR SP World	Pair Corr
0.71	RSSE	First Trust Exchange	Pair Corr
0.72	TJAN	Innovator Equity Defined	Pair Corr
0.7	HAP	VanEck Natural Resources	Pair Corr
0.72	FNDF	Schwab Fundamental	Pair Corr
0.66	FTBI	First Trust Exchange	Pair Corr
0.73	INOV	Innovator ETFs Trust	Pair Corr

Moving against First Etf

0.62	FNGO	MicroSectors FANG Index	Pair Corr
0.62	FNGG	Direxion Daily Select	Pair Corr
0.45	GBTC	Grayscale Bitcoin Trust Sell-off Trend	Pair Corr
0.45	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.39	DAPP	VanEck Digital Trans	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.64	0.4	-0.49	0.27	-0.33	0.3	-0.23	-0.38	-0.51	META
MSFT	0.64		0.85	-0.55	0.42	-0.03	-0.03	-0.49	-0.82	-0.65	MSFT
UBER	0.4	0.85		-0.54	0.47	0.19	-0.23	-0.51	-0.83	-0.64	UBER
F	-0.49	-0.55	-0.54		-0.67	0.23	0.35	0.63	0.67	0.74	F
T	0.27	0.42	0.47	-0.67		0.28	-0.67	-0.65	-0.43	-0.54	T
A	-0.33	-0.03	0.19	0.23	0.28		-0.49	-0.23	-0.01	0.0	A
CRM	0.3	-0.03	-0.23	0.35	-0.67	-0.49		0.54	0.25	0.29	CRM
JPM	-0.23	-0.49	-0.51	0.63	-0.65	-0.23	0.54		0.67	0.68	JPM
MRK	-0.38	-0.82	-0.83	0.67	-0.43	-0.01	0.25	0.67		0.79	MRK
XOM	-0.51	-0.65	-0.64	0.74	-0.54	0.0	0.29	0.68	0.79		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	+ 0.85	MSFT
XOM	+ 0.79	MRK
XOM	+ 0.74	F
XOM	+ 0.68	JPM
MRK	+ 0.67	F
MRK	+ 0.67	JPM

High negative correlations

MRK	- 0.83	UBER
MRK	- 0.82	MSFT
CRM	- 0.67	T
T	- 0.67	F
JPM	- 0.65	T
XOM	- 0.65	MSFT

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	1.34	(0.21)	0.00	(0.15)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.19)	0.00	(0.30)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.53	(0.27)	0.00	(0.18)	0.00	0.00	2.60	(3.82)	10.23
F	1.51	0.12	0.08	0.16	1.68	(1.68)	3.38	(2.63)	16.30
T	0.89	(0.11)	0.00	(0.40)	0.00	0.00	1.61	(1.83)	5.75
A	1.14	(0.04)	(0.02)	0.04	1.34	(1.20)	2.34	(2.22)	6.50
CRM	1.55	0.04	0.01	0.12	2.01	(1.53)	3.66	(2.92)	9.91
JPM	1.12	0.01	0.02	0.08	1.44	(1.17)	2.34	(2.28)	7.02
MRK	1.23	0.29	0.21	0.42	1.08	(1.52)	3.59	(1.98)	8.09
XOM	0.97	0.04	0.00	0.15	1.09	(1.03)	2.10	(1.93)	5.82

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