First Trust Correlations

FDN Etf

USD 235.83 0.86 0.36%

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

Very good diversification

The correlation between First Trust Dow and DJI is -0.38 (i.e., Very 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

0.71	VGT	Vanguard Information	Pair Corr
0.63	XLK	Technology Select Sector Sell-off Trend	Pair Corr
0.79	IYW	iShares Technology ETF	Pair Corr
0.91	CIBR	First Trust NASDAQ	Pair Corr
0.7	FTEC	Fidelity MSCI Information	Pair Corr
0.93	IGV	iShares Expanded Tech	Pair Corr
0.74	IGM	iShares Expanded Tech	Pair Corr

Moving against First Etf

0.69	AMPD	Tidal ETF Services	Pair Corr
0.63	ELON	Battleshares TSLA	Pair Corr
0.49	SOXX	iShares Semiconductor ETF	Pair Corr
0.45	SMH	VanEck Semiconductor ETF Sell-off Trend	Pair Corr
0.36	CPST	Calamos ETF Trust	Pair Corr
0.35	ITWO	Proshares Russell 2000	Pair Corr
0.33	FB	ProShares Trust ProShares	Pair Corr
0.87	DOGG	First Trust Exchange Low Volatility	Pair Corr
0.74	UDI	USCF ETF Trust	Pair Corr
0.71	BSMS	Invesco BulletShares 2028	Pair Corr
0.68	STXE	EA Series Trust	Pair Corr
0.68	TAXT	Northern Trust Tax	Pair Corr
0.67	FNDC	Schwab Fundamental	Pair Corr
0.65	CCNR	CoreCommodity Natural	Pair Corr
0.63	XFIX	Fm Investments Symbol Change	Pair Corr
0.58	IAUM	iShares Gold Trust	Pair Corr
0.54	EURL	Direxion Daily FTSE	Pair Corr
0.5	IRTR	iShares Trust	Pair Corr
0.44	TERG	Leverage Shares 2X	Pair Corr
0.43	IQSZ	Invesco Actively Managed	Pair Corr
0.43	FPXE	First Trust IPOX	Pair Corr
0.42	PFFA	Virtus InfraCap Preferred	Pair Corr
0.4	FXC	Invesco CurrencyShares	Pair Corr
0.37	WDNA	WisdomTree BioRevolution	Pair Corr
1.0	WEBS	Direxion Daily Dow	Pair Corr
0.78	LVHI	Franklin International Low Volatility	Pair Corr
0.76	SCDV	ETF Series Solutions	Pair Corr
0.69	BMVP	Invesco Bloomberg MVP	Pair Corr
0.65	NCPB	Nuveen Core Plus	Pair Corr
0.62	EWT	iShares MSCI Taiwan	Pair Corr

Related Correlations Analysis

	KWEB	SPLV	CGUS	XLRE	SSO	JGRO	BUFR	SCHH	IJJ	IGM
KWEB		-0.35	0.26	-0.19	0.27	0.56	-0.01	-0.28	-0.23	0.57	KWEB
SPLV	-0.35		0.42	0.9	0.23	-0.73	0.48	0.91	0.73	-0.48	SPLV
CGUS	0.26	0.42		0.48	0.96	0.16	0.94	0.43	0.79	0.51	CGUS
XLRE	-0.19	0.9	0.48		0.3	-0.53	0.48	0.99	0.7	-0.27	XLRE
SSO	0.27	0.23	0.96	0.3		0.37	0.9	0.25	0.69	0.67	SSO
JGRO	0.56	-0.73	0.16	-0.53	0.37		-0.02	-0.6	-0.37	0.89	JGRO
BUFR	-0.01	0.48	0.94	0.48	0.9	-0.02		0.46	0.9	0.35	BUFR
SCHH	-0.28	0.91	0.43	0.99	0.25	-0.6	0.46		0.72	-0.36	SCHH
IJJ	-0.23	0.73	0.79	0.7	0.69	-0.37	0.9	0.72		0.0	IJJ
IGM	0.57	-0.48	0.51	-0.27	0.67	0.89	0.35	-0.36	0.0		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

SCHH	+ 0.99	XLRE
SSO	+ 0.96	CGUS
BUFR	+ 0.94	CGUS
SCHH	+ 0.91	SPLV
XLRE	+ 0.9	SPLV
BUFR	+ 0.9	SSO

High negative correlations

JGRO	- 0.73	SPLV
SCHH	- 0.6	JGRO
JGRO	- 0.53	XLRE
IGM	- 0.48	SPLV
IJJ	- 0.37	JGRO
IGM	- 0.36	SCHH

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	1.09	(0.26)	0.00	(0.23)	0.00	0.00	2.82	(2.51)	8.95
SPLV	0.44	0.07	0.05	0.32	0.36	(0.49)	0.98	(0.89)	2.37
CGUS	0.58	(0.05)	(0.07)	0.00	0.85	(0.56)	1.22	(1.36)	3.68
XLRE	0.61	0.06	0.04	0.19	0.73	(0.62)	1.40	(1.30)	3.25
SSO	1.09	(0.11)	0.00	(0.01)	0.00	0.00	1.96	(3.07)	7.04
JGRO	0.75	(0.17)	0.00	(0.16)	0.00	0.00	1.00	(1.92)	4.96
BUFR	0.28	(0.01)	(0.10)	0.04	0.40	(0.26)	0.61	(0.74)	1.85
SCHH	0.56	0.09	0.07	0.29	0.57	(0.58)	1.45	(1.08)	3.05
IJJ	0.76	0.09	0.12	0.15	0.64	(0.95)	2.16	(1.39)	4.42
IGM	1.03	(0.16)	0.00	(0.10)	0.00	0.00	1.68	(2.73)	6.36

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