First Trust Correlations

Etfs . USA . 
Etf . First Trust Dow
FDM Etf  USD 84.02  0.23  0.27%   
The current 90-days correlation between First Trust Dow and Avantis Emerging Markets is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Dow moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Dow and DJI is 0.85 (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 Dow 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 Dow. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with First Etf

  0.94VBR Vanguard Small CapPairCorr
  0.94IWN iShares Russell 2000PairCorr
  0.94DFAT Dimensional TargetedPairCorr
  0.9IJS iShares SP SmallPairCorr
  0.94SLYV SPDR SP 600PairCorr
  0.97AVUV Avantis Small CapPairCorr
  0.91DES WisdomTree SmallCapPairCorr
  0.95MDYV SPDR SP 400PairCorr
  0.95CALF Pacer Small CapPairCorr
  0.91REGL ProShares SP MidCapPairCorr
  0.88QTJA Innovator ETFs TrustPairCorr
  0.7QTOC Innovator ETFs TrustPairCorr
  0.83XTOC Innovator ETFs TrustPairCorr
  0.92QTAP Innovator Growth 100PairCorr
  0.91XTJA Innovator ETFs TrustPairCorr
  0.93XTAP Innovator Equity AccPairCorr
  0.88FLXR TCW ETF TrustPairCorr
  0.67FMF First Trust ManagedPairCorr
  0.95WMT Walmart Common Stock Aggressive PushPairCorr
  0.82DD Dupont De NemoursPairCorr
  0.63MCD McDonalds Sell-off TrendPairCorr
  0.86JNJ Johnson Johnson Sell-off TrendPairCorr
  0.86AA Alcoa CorpPairCorr
  0.84MRK Merck Company Earnings Call This WeekPairCorr

Moving against First Etf

  0.76MSFT MicrosoftPairCorr
  0.58T ATT Inc Earnings Call This WeekPairCorr
  0.34MMM 3M CompanyPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FJP  0.68  0.11  0.11  0.20  0.77 
(0.73)
 1.85 
(1.37)
 4.38 
FNK  0.72  0.06  0.09  0.10  0.64 
(0.92)
 2.17 
(1.20)
 4.13 
DBP  1.55  0.40  0.11  0.57  2.85 
(1.59)
 3.10 
(1.92)
 8.93 
GVLU  0.64  0.08  0.08  0.39  0.59 
(0.71)
 1.60 
(1.02)
 3.46 
EWZS  1.32  0.14  0.06  0.18  1.99 
(1.36)
 2.88 
(2.71)
 11.14 
FXZ  1.08  0.17  0.13  0.17  1.11 
(1.15)
 2.43 
(2.51)
 4.43 
DBAW  0.49  0.11  0.11  1.22  0.52 
(0.53)
 1.10 
(1.16)
 3.25 
GHYG  0.17  0.01 (0.07) 0.13  0.09 
(0.18)
 0.39 
(0.33)
 1.26 
QVMS  0.80  0.03  0.04  0.06  0.85 
(0.94)
 2.11 
(1.57)
 4.91 
AVXC  0.66  0.15  0.15  0.28  0.62 
(0.71)
 1.40 
(1.22)
 3.08 

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