First Trust Correlations

FDM Etf

USD 81.82 0.06 0.07%

The current 90-days correlation between First Trust Dow and First Trust Japan is 0.49 (i.e., Very weak 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

Poor diversification

The correlation between First Trust Dow and DJI is 0.67 (i.e., 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 american community survey.

Moving together with First Etf

0.9	VBR	Vanguard Small Cap	Pair Corr
0.85	IWN	iShares Russell 2000	Pair Corr
0.95	DFAT	Dimensional Targeted	Pair Corr
0.92	IJS	iShares SP Small	Pair Corr
0.92	SLYV	SPDR SP 600	Pair Corr
0.95	AVUV	Avantis Small Cap	Pair Corr
0.83	DES	WisdomTree SmallCap	Pair Corr
0.91	MDYV	SPDR SP 400	Pair Corr
0.95	CALF	Pacer Small Cap	Pair Corr
0.82	REGL	ProShares SP MidCap	Pair Corr
0.85	QTJA	Innovator ETFs Trust	Pair Corr
0.62	QTOC	Innovator ETFs Trust	Pair Corr
0.81	XTOC	Innovator ETFs Trust	Pair Corr
0.87	QTAP	Innovator Growth 100	Pair Corr
0.9	XTJA	Innovator ETFs Trust	Pair Corr
0.88	XTAP	Innovator Equity Acc	Pair Corr
0.82	INOV	Innovator ETFs Trust	Pair Corr
0.92	JEPI	JPMorgan Equity Premium	Pair Corr
0.65	TRV	The Travelers Companies	Pair Corr
0.67	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.79	AXP	American Express	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.9	WMT	Walmart Common Stock	Pair Corr
0.74	MCD	McDonalds	Pair Corr
0.78	DD	Dupont De Nemours	Pair Corr
0.69	XOM	Exxon Mobil Corp	Pair Corr
0.83	BAC	Bank of America Earnings Call This Week	Pair Corr
0.73	CAT	Caterpillar	Pair Corr

Moving against First Etf

0.71	MSFT	Microsoft	Pair Corr
0.55	HPQ	HP Inc	Pair Corr
0.52	HD	Home Depot	Pair Corr

Related Correlations Analysis

	FJP	FNK	DBP	GVLU	EWZS	FXZ	DBAW	GHYG	QVMS	AVXC
FJP		0.76	0.76	0.77	0.33	0.69	0.87	0.83	0.8	0.84	FJP
FNK	0.76		0.85	0.93	-0.05	0.9	0.68	0.92	0.96	0.69	FNK
DBP	0.76	0.85		0.87	-0.13	0.86	0.74	0.9	0.79	0.76	DBP
GVLU	0.77	0.93	0.87		-0.05	0.95	0.77	0.92	0.89	0.7	GVLU
EWZS	0.33	-0.05	-0.13	-0.05		-0.11	0.28	0.03	0.08	0.27	EWZS
FXZ	0.69	0.9	0.86	0.95	-0.11		0.78	0.89	0.83	0.74	FXZ
DBAW	0.87	0.68	0.74	0.77	0.28	0.78		0.79	0.71	0.92	DBAW
GHYG	0.83	0.92	0.9	0.92	0.03	0.89	0.79		0.89	0.81	GHYG
QVMS	0.8	0.96	0.79	0.89	0.08	0.83	0.71	0.89		0.72	QVMS
AVXC	0.84	0.69	0.76	0.7	0.27	0.74	0.92	0.81	0.72		AVXC
	FJP	FNK	DBP	GVLU	EWZS	FXZ	DBAW	GHYG	QVMS	AVXC

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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

QVMS	+ 0.96	FNK
FXZ	+ 0.95	GVLU
GVLU	+ 0.93	FNK
GHYG	+ 0.92	FNK
GHYG	+ 0.92	GVLU
AVXC	+ 0.92	DBAW

High negative correlations

EWZS	- 0.13	DBP
FXZ	- 0.11	EWZS
EWZS	- 0.05	GVLU
EWZS	- 0.05	FNK

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	0.68	0.08	0.05	0.19	0.93	(0.71)	1.53	(1.37)	3.89
FNK	0.75	0.00	0.01	0.09	0.83	(0.88)	1.85	(1.35)	3.88
DBP	1.36	0.26	0.10	0.45	1.85	(1.39)	3.10	(2.66)	9.97
GVLU	0.68	0.06	(0.01)	0.39	0.75	(0.72)	1.47	(1.20)	3.46
EWZS	1.22	(0.02)	0.00	0.07	1.97	(1.21)	2.36	(2.71)	11.14
FXZ	1.19	0.12	0.05	0.42	1.21	(1.31)	2.68	(2.51)	5.85
DBAW	0.53	0.09	0.02	0.82	0.70	(0.56)	1.07	(1.16)	3.09
GHYG	0.19	0.00	(0.27)	0.09	0.14	(0.20)	0.44	(0.33)	1.27
QVMS	0.87	0.00	0.01	0.08	0.99	(0.95)	1.98	(1.57)	4.33
AVXC	0.69	0.09	0.06	0.21	0.79	(0.71)	1.71	(1.22)	4.65

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