First Trust Correlations

FCT Etf

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The current 90-days correlation between First Trust Senior and Franklin Templeton Limited is 0.17 (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. 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 Senior and DJI is 0.86 (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 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 services.

Moving together with First Etf

0.83	JPST	JPMorgan Ultra Short	Pair Corr
0.61	FNGD	MicroSectors FANG Index	Pair Corr
0.89	FB	ProShares Trust ProShares	Pair Corr
0.76	TOT	Advisor Managed Port	Pair Corr
0.89	GSX	Tradr 2X Long	Pair Corr
0.7	FLKR	Franklin FTSE South	Pair Corr
0.78	ACES	ALPS Clean Energy	Pair Corr
0.74	BBP	Virtus LifeSci Biotech	Pair Corr
0.75	EWW	iShares MSCI Mexico	Pair Corr
0.82	QAI	IQ Hedge Multi	Pair Corr
0.9	FVAL	Fidelity Value Factor	Pair Corr
0.79	SFIG	WisdomTree Short Term	Pair Corr
0.83	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.64	INDS	Pacer Benchmark Indu	Pair Corr
0.74	TPOR	Direxion Daily Trans	Pair Corr
0.8	SUSB	iShares ESG 1	Pair Corr
0.72	ICVT	iShares Convertible Bond	Pair Corr
0.66	VNQI	Vanguard Global ex	Pair Corr
0.81	TRCFX	Popular Total Return	Pair Corr
0.71	SPIB	SPDR Barclays Interm	Pair Corr
0.86	PXMV	Invesco SP MidCap	Pair Corr
0.7	VWO	Vanguard FTSE Emerging	Pair Corr
0.84	EUHY	iShares Euro High Symbol Change	Pair Corr
0.74	FTXH	First Trust Nasdaq	Pair Corr
0.79	GDE	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.72	BCD	abrdn Bloomberg All	Pair Corr
0.73	CIL	VictoryShares International	Pair Corr
0.96	ALCBX	ALPSSmith Balanced	Pair Corr
0.79	TDI	Touchstone Dynamic	Pair Corr
0.87	ZJUL	Innovator Equity Defined	Pair Corr

Moving against First Etf

0.88	VXX	iPath Series B	Pair Corr
0.49	TBJL	Innovator 20 Year	Pair Corr
0.43	GAST	Gabelli ETFs Trust Symbol Change	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.29	-0.34	0.39	0.14	-0.42	-0.06	0.36	0.36	0.35	META
MSFT	-0.29		0.82	-0.6	-0.77	0.76	0.87	0.08	-0.88	-0.93	MSFT
UBER	-0.34	0.82		-0.55	-0.65	0.82	0.65	-0.07	-0.8	-0.8	UBER
F	0.39	-0.6	-0.55		0.23	-0.5	-0.35	0.26	0.75	0.65	F
T	0.14	-0.77	-0.65	0.23		-0.55	-0.81	-0.16	0.59	0.68	T
A	-0.42	0.76	0.82	-0.5	-0.55		0.59	-0.01	-0.68	-0.81	A
CRM	-0.06	0.87	0.65	-0.35	-0.81	0.59		0.43	-0.69	-0.85	CRM
JPM	0.36	0.08	-0.07	0.26	-0.16	-0.01	0.43		0.2	-0.11	JPM
MRK	0.36	-0.88	-0.8	0.75	0.59	-0.68	-0.69	0.2		0.88	MRK
XOM	0.35	-0.93	-0.8	0.65	0.68	-0.81	-0.85	-0.11	0.88		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	+ 0.88	MRK
CRM	+ 0.87	MSFT
UBER	+ 0.82	MSFT
A	+ 0.82	UBER
A	+ 0.76	MSFT
MRK	+ 0.75	F

High negative correlations

XOM	- 0.93	MSFT
MRK	- 0.88	MSFT
XOM	- 0.85	CRM
XOM	- 0.81	A
CRM	- 0.81	T
XOM	- 0.8	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	1.50	0.07	0.03	0.16	1.44	(1.78)	3.43	(2.60)	13.69
MSFT	1.29	(0.39)	0.00	(1.03)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.56	(0.35)	0.00	(0.63)	0.00	0.00	2.46	(3.82)	11.09
F	1.22	0.05	0.03	0.13	1.21	(1.46)	3.34	(2.30)	7.16
T	1.00	0.15	0.07	(19.14)	0.94	(1.16)	3.87	(1.76)	7.44
A	1.26	(0.35)	0.00	(0.21)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.69	(0.47)	0.00	(0.39)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.20	(0.06)	(0.02)	0.03	1.61	(1.29)	2.34	(2.63)	7.38
MRK	1.27	0.38	0.26	0.64	0.97	(1.50)	2.93	(1.98)	8.74
XOM	1.29	0.31	0.18	1.25	1.17	(1.46)	2.90	(2.44)	6.83

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