First Trust Correlations

FCT Etf

USD 10.10 0.01 0.1%

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 state and metro area employment, hours, and earnings.

Moving together with First Etf

0.9	JPST	JPMorgan Ultra Short	Pair Corr
0.76	FNGD	MicroSectors FANG Index	Pair Corr
0.92	FB	ProShares Trust ProShares	Pair Corr
0.73	TOT	Advisor Managed Port	Pair Corr
0.92	GSX	Tradr 2X Long	Pair Corr
0.8	IAU	iShares Gold Trust	Pair Corr
0.88	LJAN	Innovator ETFs Trust	Pair Corr
0.81	RFV	Invesco SP MidCap	Pair Corr
0.94	CFMDX	Clarkston Founders	Pair Corr
0.88	HYFI	AB Active ETFs	Pair Corr
0.87	QSML	WisdomTree SmallCap Potential Growth	Pair Corr
0.67	HIDE	Alpha Architect High	Pair Corr
0.88	PICK	iShares MSCI Global	Pair Corr
0.87	NUDV	Nushares ETF Trust Low Volatility	Pair Corr
0.88	VEA	Vanguard FTSE Developed	Pair Corr
0.81	TGLR	LAFFERTENGLER Equity	Pair Corr
0.87	DYFI	IDX Dynamic Fixed	Pair Corr
0.86	ETHO	Amplify Etho Climate	Pair Corr
0.71	VOO	Vanguard SP 500	Pair Corr
0.79	XPH	SPDR SP Pharmaceuticals	Pair Corr
0.9	XJUL	FT Cboe Vest	Pair Corr
0.85	DXJS	WisdomTree Japan Hedged Symbol Change	Pair Corr
0.64	SPCT	Liberty One Spectrum	Pair Corr
0.84	SCHD	Schwab Dividend Equity Aggressive Push	Pair Corr
0.88	IBMQ	iShares Trust	Pair Corr
0.85	AUGT	AIM ETF Products	Pair Corr
0.84	IXUS	iShares Core MSCI	Pair Corr
0.88	BVAL	Exchange Traded Concepts	Pair Corr
0.85	SLV	iShares Silver Trust	Pair Corr
0.89	JOYT	JPMorgan Equity And	Pair Corr
0.84	VXUS	Vanguard Total Inter	Pair Corr
0.73	DEM	WisdomTree Emerging	Pair Corr
0.87	IBHK	IBHK	Pair Corr
0.8	MJSC	RBB Fund	Pair Corr
0.79	CCEF	Calamos ETF Trust	Pair Corr

Moving against First Etf

0.91	VXX	iPath Series B Low Volatility	Pair Corr
0.47	IRE	Tidal Trust II	Pair Corr
0.49	UGA	United States Gasoline	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.16	-0.03	0.2	0.05	-0.35	0.25	0.14	0.04	0.16	META
MSFT	0.16		0.74	-0.55	0.28	0.35	0.44	-0.02	-0.8	-0.72	MSFT
UBER	-0.03	0.74		-0.48	0.33	0.52	0.1	-0.2	-0.8	-0.53	UBER
F	0.2	-0.55	-0.48		-0.52	-0.28	0.0	0.4	0.7	0.66	F
T	0.05	0.28	0.33	-0.52		0.46	-0.25	-0.27	-0.37	-0.38	T
A	-0.35	0.35	0.52	-0.28	0.46		-0.07	-0.06	-0.33	-0.56	A
CRM	0.25	0.44	0.1	0.0	-0.25	-0.07		0.69	-0.15	-0.5	CRM
JPM	0.14	-0.02	-0.2	0.4	-0.27	-0.06	0.69		0.29	-0.13	JPM
MRK	0.04	-0.8	-0.8	0.7	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.16	-0.72	-0.53	0.66	-0.38	-0.56	-0.5	-0.13	0.68		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	+ 0.74	MSFT
MRK	+ 0.7	F
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
XOM	+ 0.66	F
A	+ 0.52	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.56	A
F	- 0.55	MSFT
XOM	- 0.53	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	1.61	(0.08)	0.00	(0.04)	0.00	0.00	3.43	(2.72)	11.42
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.24	0.05	0.04	0.08	1.23	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.18)	0.00	(0.10)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

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