First Trust Correlations

FDNE Etf

27.90 0.42 1.53%

The current 90-days correlation between First Trust Dow and iShares Core Corp is 0.02 (i.e., Significant diversification). The correlation of First Trust 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Excellent diversification

The correlation between First Trust Dow and DJI is -0.54 (i.e., Excellent 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.

The ability to find closely correlated positions to First Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Trust when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Trust - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Trust Dow to buy it.

Moving together with First Etf

0.82	ISPY	LG Cyber Security	Pair Corr
0.87	WTCH	SPDR MSCI World	Pair Corr
0.73	WITS	iShares MSCI World	Pair Corr

Moving against First Etf

0.92	SXLP	SSgA SPDR ETFs	Pair Corr
0.83	ICOW	Pacer Developed Markets	Pair Corr
0.81	VECP	Vanguard EUR Corporate	Pair Corr
0.81	LTAM	iShares MSCI EM	Pair Corr
0.8	IKRA	iShares Public	Pair Corr
0.75	ERNE	iShares Euro Ultrashort	Pair Corr
0.74	IEGA	iShares III Public	Pair Corr
0.72	ISFA	iShares Core FTSE	Pair Corr
0.69	SEMI	iShares MSCI Global	Pair Corr
0.68	FXEU	First Trust FactorFX	Pair Corr
0.67	COPM	iShares Copper Miners	Pair Corr
0.63	IDVA	iShares EURO STOXX	Pair Corr
0.62	AUCO	LG Gold Mining	Pair Corr
0.6	JPXY	Amundi Index Solutions	Pair Corr
0.59	PHAU	WisdomTree Physical Gold	Pair Corr
0.59	V20D	Vanguard LifeStrategy	Pair Corr
0.58	ROBO	Legal General UCITS	Pair Corr
0.52	GLDU	Amundi Index Solutions	Pair Corr
0.49	BATT	Legal General UCITS	Pair Corr
0.47	SUOU	iShares Corp Bond	Pair Corr
0.43	PHPT	WisdomTree Physical	Pair Corr
0.42	RTWO	LG Russell 2000	Pair Corr
0.41	ISED	iShares MSCI Europe	Pair Corr
0.94	WCSS	iShares MSCI World	Pair Corr
0.9	SXLE	SSgA SPDR ETFs	Pair Corr
0.87	SJPD	iShares Core MSCI	Pair Corr
0.84	IBGX	iShares Euro Government	Pair Corr
0.83	TI5A	iShares TIPS 0	Pair Corr
0.83	IBCX	iShares Euro Corporate	Pair Corr
0.83	CBE7	iShares VII Public	Pair Corr
0.82	IJPE	iShares MSCI Japan	Pair Corr
0.82	SXLB	SSgA SPDR ETFs	Pair Corr
0.81	VAPX	Vanguard FTSE Developed	Pair Corr
0.81	SXLI	SPDR SP Industrials	Pair Corr

Related Correlations Analysis

	WQDA	IPRA	MUSD	BNKT	ESPX	UPAB	SLXU
WQDA		0.13	0.57	0.92	0.87	0.14	0.89	WQDA
IPRA	0.13		0.5	0.29	0.46	0.84	0.38	IPRA
MUSD	0.57	0.5		0.55	0.71	0.58	0.56	MUSD
BNKT	0.92	0.29	0.55		0.85	0.27	0.85	BNKT
ESPX	0.87	0.46	0.71	0.85		0.56	0.85	ESPX
UPAB	0.14	0.84	0.58	0.27	0.56		0.3	UPAB
SLXU	0.89	0.38	0.56	0.85	0.85	0.3		SLXU
	WQDA	IPRA	MUSD	BNKT	ESPX	UPAB	SLXU

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
WQDA	0.51	0.13	0.14	2.34	0.45	(0.61)	1.20	(0.86)	3.03
IPRA	0.91	(0.05)	0.00	(0.05)	0.00	0.00	1.68	(1.76)	6.33
MUSD	0.44	0.06	0.03	(0.52)	0.45	(0.54)	0.99	(1.05)	3.13
BNKT	0.93	0.16	0.11	0.26	0.97	(1.13)	2.67	(1.79)	7.40
ESPX	0.48	0.01	(0.02)	0.05	0.56	(0.58)	1.03	(1.11)	3.11
UPAB	0.51	(0.05)	0.00	(0.08)	0.00	0.00	0.84	(1.28)	3.20
SLXU	0.11	0.01	(0.05)	0.12	0.09	(0.35)	0.35	(0.17)	1.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Trust without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Backtesting Now

Portfolio Backtesting

Avoid under-diversification and over-optimization by backtesting your portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC