FT Vest Correlations

FDND Etf

23.83 0.20 0.85%

The current 90-days correlation between FT Vest Dow and Global X Dow is 0.55 (i.e., Very weak diversification). The correlation of FT Vest 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.

FT Vest Correlation With Market

Average diversification

The correlation between FT Vest Dow and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FT Vest Dow and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FT Vest 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 board of governors.

Moving together with FDND Etf

0.83	XYLD	Global X SP	Pair Corr
0.88	RYLD	Global X Russell	Pair Corr
0.96	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.95	NUSI	NEOS ETF Trust	Pair Corr
0.83	BUYW	Main Buywrite ETF	Pair Corr
0.81	DSJA	DSJA	Pair Corr
0.73	RSPY	Tuttle Capital Management	Pair Corr
0.63	MEME	Roundhill Investments	Pair Corr
0.64	BA	Boeing	Pair Corr
0.74	IBM	International Business Upward Rally	Pair Corr
0.7	MSFT	Microsoft Downward Rally	Pair Corr
0.75	JPM	JPMorgan Chase	Pair Corr
0.91	AXP	American Express	Pair Corr
0.77	DIS	Walt Disney Earnings Call This Week	Pair Corr

Moving against FDND Etf

0.66	KO	Coca Cola Earnings Call This Week	Pair Corr
0.62	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.58	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.54	HPQ	HP Inc	Pair Corr
0.45	MRK	Merck Company Earnings Call This Week	Pair Corr
0.38	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	DJIA	VEGA	DYLG	FDND	GQI	XYLG	PAPI	GLDI	GPIQ
DJIA		0.67	0.85	0.92	0.89	0.97	0.12	0.19	0.86	DJIA
VEGA	0.67		0.83	0.7	0.72	0.69	0.48	0.07	0.71	VEGA
DYLG	0.85	0.83		0.8	0.87	0.82	0.41	0.02	0.73	DYLG
FDND	0.92	0.7	0.8		0.94	0.93	-0.04	0.12	0.94	FDND
GQI	0.89	0.72	0.87	0.94		0.91	0.0	0.06	0.91	GQI
XYLG	0.97	0.69	0.82	0.93	0.91		0.02	0.2	0.94	XYLG
PAPI	0.12	0.48	0.41	-0.04	0.0	0.02		-0.17	-0.11	PAPI
GLDI	0.19	0.07	0.02	0.12	0.06	0.2	-0.17		0.11	GLDI
GPIQ	0.86	0.71	0.73	0.94	0.91	0.94	-0.11	0.11		GPIQ
	DJIA	VEGA	DYLG	FDND	GQI	XYLG	PAPI	GLDI	GPIQ

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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

XYLG	+ 0.97	DJIA
GQI	+ 0.94	FDND
GPIQ	+ 0.94	FDND
GPIQ	+ 0.94	XYLG
XYLG	+ 0.93	FDND
FDND	+ 0.92	DJIA

High negative correlations

GLDI	- 0.17	PAPI
GPIQ	- 0.11	PAPI
PAPI	- 0.04	FDND
PAPI	- 0.0	GQI

FT Vest Constituents Risk-Adjusted Indicators

There is a big difference between FDND Etf performing well and FT Vest 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 FT Vest'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
DJIA	0.35	0.08	0.03	0.43	0.21	(0.41)	0.99	(0.52)	4.22
VEGA	0.43	0.01	(0.07)	0.13	0.58	(0.44)	0.79	(1.09)	2.41
DYLG	0.48	0.07	0.00	2.50	0.47	(0.62)	1.25	(0.73)	5.30
FDND	0.86	0.25	0.16	1.04	0.84	(0.91)	1.88	(1.32)	6.63
GQI	0.56	0.08	0.01	4.62	0.69	(0.59)	1.11	(1.06)	4.75
XYLG	0.47	0.06	0.01	0.27	0.55	(0.48)	1.16	(1.15)	3.75
PAPI	0.52	(0.04)	0.00	(0.04)	0.00	0.00	1.16	(0.95)	4.09
GLDI	0.57	0.03	(0.04)	1.20	0.80	(0.59)	1.11	(1.29)	5.00
GPIQ	0.72	0.07	0.02	0.32	0.88	(0.74)	1.45	(1.87)	4.80

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