First Trust Correlations

FDNI Etf

USD 28.13 0.86 2.97%

The current 90-days correlation between First Trust Dow and American Beacon Select is 0.57 (i.e., Very weak 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.

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 inflation.

Moving together with First Etf

0.86

HUM

Humana Inc

Pair Corr

Moving against First Etf

0.85	FNGD	MicroSectors FANG Index	Pair Corr
0.76	SFGRX	Seafarer Overseas	Pair Corr
0.76	DGS	WisdomTree Emerging	Pair Corr
0.73	FNDE	Schwab Fundamental	Pair Corr
0.69	LUX	Tema Global	Pair Corr
0.67	IEMG	iShares Core MSCI	Pair Corr
0.66	EEM	iShares MSCI Emerging Downward Rally	Pair Corr
0.66	ESGE	iShares ESG Aware	Pair Corr
0.66	XSOE	WisdomTree Emerging	Pair Corr
0.62	EMC	Global X Funds	Pair Corr
0.59	VWO	Vanguard FTSE Emerging	Pair Corr
0.58	SPEM	SPDR Portfolio Emerging	Pair Corr
0.57	SWP	SWP Growth Income	Pair Corr
0.36	SHLD	Global X Defense	Pair Corr
0.34	FB	ProShares Trust ProShares	Pair Corr
0.87	ERET	iShares Environmentally	Pair Corr
0.82	SPDV	AAM SP 500	Pair Corr
0.81	GCAL	Goldman Sachs ETF	Pair Corr
0.8	DXJ	WisdomTree Japan Hedged	Pair Corr
0.78	JEPI	JPMorgan Equity Premium	Pair Corr
0.75	FTCS	First Trust Capital	Pair Corr
0.74	CCNR	CoreCommodity Natural	Pair Corr
0.7	DFE	WisdomTree Europe	Pair Corr
0.7	ESGD	iShares ESG Aware	Pair Corr
0.69	KNGZ	First Trust Exchange	Pair Corr
0.68	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.62	UEVM	VictoryShares Emerging	Pair Corr
0.61	AUMI	Themes Gold Miners	Pair Corr
0.61	ETHO	Amplify Etho Climate	Pair Corr
0.32	CALY	Callaway Golf Symbol Change	Pair Corr
0.82	QLV	FlexShares Quality Low	Pair Corr
0.8	IGEB	iShares Edge Investment	Pair Corr
0.78	TAXT	Northern Trust Tax	Pair Corr
0.78	DWM	WisdomTree International	Pair Corr

Related Correlations Analysis

	VMAX	SURE	AFSM	FLGR	DEEF	ARP	DVYA	AADR	HQGO	AHLT
VMAX		0.94	0.93	0.89	0.91	0.92	0.92	0.89	-0.24	0.92	VMAX
SURE	0.94		0.93	0.91	0.81	0.84	0.82	0.86	-0.1	0.91	SURE
AFSM	0.93	0.93		0.86	0.81	0.88	0.84	0.92	-0.12	0.92	AFSM
FLGR	0.89	0.91	0.86		0.78	0.83	0.78	0.89	-0.03	0.89	FLGR
DEEF	0.91	0.81	0.81	0.78		0.93	0.99	0.83	-0.52	0.84	DEEF
ARP	0.92	0.84	0.88	0.83	0.93		0.96	0.93	-0.29	0.94	ARP
DVYA	0.92	0.82	0.84	0.78	0.99	0.96		0.87	-0.46	0.88	DVYA
AADR	0.89	0.86	0.92	0.89	0.83	0.93	0.87		-0.12	0.96	AADR
HQGO	-0.24	-0.1	-0.12	-0.03	-0.52	-0.29	-0.46	-0.12		-0.1	HQGO
AHLT	0.92	0.91	0.92	0.89	0.84	0.94	0.88	0.96	-0.1		AHLT
	VMAX	SURE	AFSM	FLGR	DEEF	ARP	DVYA	AADR	HQGO	AHLT

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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

DVYA	+ 0.99	DEEF
DVYA	+ 0.96	ARP
AHLT	+ 0.96	AADR
SURE	+ 0.94	VMAX
AHLT	+ 0.94	ARP
AFSM	+ 0.93	VMAX

High negative correlations

HQGO	- 0.52	DEEF
HQGO	- 0.46	DVYA
HQGO	- 0.29	ARP
HQGO	- 0.24	VMAX
HQGO	- 0.12	AADR
HQGO	- 0.12	AFSM

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
VMAX	0.66	0.07	0.08	0.11	0.70	(0.70)	1.20	(1.51)	4.47
SURE	0.62	0.08	0.10	0.12	0.57	(0.71)	1.57	(1.10)	3.84
AFSM	0.74	0.03	0.03	0.06	0.83	(0.77)	1.60	(1.83)	5.09
FLGR	0.67	0.02	0.01	0.07	1.08	(0.64)	1.10	(1.47)	5.23
DEEF	0.55	0.25	0.31	(1.74)	0.22	(0.65)	1.38	(1.06)	2.62
ARP	0.71	0.12	0.07	0.24	1.15	(0.68)	1.51	(1.68)	6.19
DVYA	0.58	0.26	0.26	(2.14)	0.35	(0.68)	1.29	(0.96)	4.23
AADR	0.96	0.04	0.02	0.08	1.50	(0.96)	1.94	(2.20)	6.43
HQGO	0.61	(0.06)	0.00	(0.03)	0.00	0.00	1.07	(1.50)	3.88
AHLT	0.99	0.16	0.10	0.20	1.42	(1.00)	1.87	(2.74)	7.05

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