First Trust Correlations

FDN Etf

USD 268.28 1.79 0.67%

The current 90-days correlation between First Trust Dow and iShares Expanded Tech is 0.83 (i.e., Very poor 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

Good diversification

The correlation between First Trust Dow and DJI is -0.15 (i.e., Good 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

0.83	VGT	Vanguard Information	Pair Corr
0.74	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.82	IYW	iShares Technology ETF	Pair Corr
0.89	CIBR	First Trust NASDAQ Sell-off Trend	Pair Corr
0.83	FTEC	Fidelity MSCI Information	Pair Corr
0.93	IGV	iShares Expanded Tech	Pair Corr
0.7	IGM	iShares Expanded Tech	Pair Corr
0.79	MSFT	Microsoft Earnings Call Today	Pair Corr
0.78	HPQ	HP Inc	Pair Corr

Moving against First Etf

0.72	JNJ	Johnson Johnson	Pair Corr
0.59	KO	Coca Cola	Pair Corr
0.57	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.55	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.49	WMT	Walmart Common Stock	Pair Corr
0.48	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.44	CAT	Caterpillar Earnings Call Tomorrow	Pair Corr
0.34	CVX	Chevron Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	KWEB	SPLV	CGUS	XLRE	SSO	JGRO	BUFR	SCHH	IJJ	IGM
KWEB		-0.09	0.21	0.48	0.21	0.58	-0.19	0.33	-0.21	0.47	KWEB
SPLV	-0.09		0.32	0.69	0.16	-0.46	0.38	0.79	0.52	-0.29	SPLV
CGUS	0.21	0.32		0.33	0.97	0.37	0.9	0.39	0.81	0.67	CGUS
XLRE	0.48	0.69	0.33		0.22	0.05	0.15	0.96	0.28	0.11	XLRE
SSO	0.21	0.16	0.97	0.22		0.54	0.86	0.26	0.73	0.79	SSO
JGRO	0.58	-0.46	0.37	0.05	0.54		0.06	-0.09	-0.14	0.9	JGRO
BUFR	-0.19	0.38	0.9	0.15	0.86	0.06		0.27	0.94	0.41	BUFR
SCHH	0.33	0.79	0.39	0.96	0.26	-0.09	0.27		0.43	0.04	SCHH
IJJ	-0.21	0.52	0.81	0.28	0.73	-0.14	0.94	0.43		0.24	IJJ
IGM	0.47	-0.29	0.67	0.11	0.79	0.9	0.41	0.04	0.24		IGM
	KWEB	SPLV	CGUS	XLRE	SSO	JGRO	BUFR	SCHH	IJJ	IGM

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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

SSO	+ 0.97	CGUS
SCHH	+ 0.96	XLRE
IJJ	+ 0.94	BUFR
BUFR	+ 0.9	CGUS
IGM	+ 0.9	JGRO
BUFR	+ 0.86	SSO

High negative correlations

JGRO	- 0.46	SPLV
IGM	- 0.29	SPLV
IJJ	- 0.21	KWEB
BUFR	- 0.19	KWEB
IJJ	- 0.14	JGRO
SCHH	- 0.09	JGRO

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
KWEB	1.10	(0.11)	0.00	(0.06)	0.00	0.00	2.30	(2.26)	7.18
SPLV	0.48	(0.02)	(0.10)	0.02	0.62	(0.49)	1.06	(0.96)	2.40
CGUS	0.57	0.01	(0.01)	0.08	0.83	(0.53)	1.22	(1.33)	3.90
XLRE	0.58	(0.07)	0.00	(0.08)	0.00	0.00	1.13	(1.38)	3.25
SSO	1.08	0.00	0.02	0.07	1.59	(1.01)	2.26	(2.36)	7.20
JGRO	0.75	(0.06)	(0.06)	(0.01)	1.27	(0.62)	1.49	(1.90)	4.96
BUFR	0.26	0.01	(0.06)	0.11	0.33	(0.25)	0.61	(0.65)	1.85
SCHH	0.55	(0.05)	0.00	(0.06)	0.00	0.00	1.09	(1.21)	3.28
IJJ	0.72	0.03	0.04	0.10	0.72	(0.83)	1.92	(1.27)	4.42
IGM	0.94	(0.02)	(0.01)	0.05	1.48	(0.78)	1.87	(2.64)	6.36

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