First Trust Correlations

FDNI Etf

USD 31.33 0.32 1.03%

The current 90-days correlation between First Trust Dow and American Beacon Select is 0.59 (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 -0.25 (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 state.

Moving together with First Etf

0.78

MSFT

Microsoft

Pair Corr

Moving against First Etf

0.58	RDIV	Invesco SP Ultra	Pair Corr
0.46	BINC	BlackRock ETF Trust	Pair Corr
0.45	AHYB	American Century ETF	Pair Corr
0.43	SFGRX	Seafarer Overseas	Pair Corr
0.4	DGS	WisdomTree Emerging	Pair Corr
0.33	CPST	Calamos ETF Trust	Pair Corr
0.31	FNDE	Schwab Fundamental	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.76	KO	Coca Cola	Pair Corr
0.76	MCD	McDonalds Earnings Call This Week	Pair Corr
0.7	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.66	MRK	Merck Company Aggressive Push	Pair Corr
0.64	PFE	Pfizer Inc	Pair Corr
0.59	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.55	TRV	The Travelers Companies	Pair Corr
0.54	PG	Procter Gamble	Pair Corr
0.52	T	ATT Inc Sell-off Trend	Pair Corr
0.34	INTC	Intel	Pair Corr

Related Correlations Analysis

	VMAX	SURE	AFSM	FLGR	DEEF	ARP	DVYA	AADR	HQGO	AHLT
VMAX		0.97	0.96	0.96	0.95	0.9	0.9	0.89	0.71	0.94	VMAX
SURE	0.97		0.96	0.96	0.89	0.85	0.83	0.85	0.71	0.91	SURE
AFSM	0.96	0.96		0.92	0.9	0.88	0.86	0.89	0.73	0.91	AFSM
FLGR	0.96	0.96	0.92		0.9	0.88	0.85	0.89	0.75	0.93	FLGR
DEEF	0.95	0.89	0.9	0.9		0.95	0.98	0.94	0.53	0.96	DEEF
ARP	0.9	0.85	0.88	0.88	0.95		0.97	0.97	0.6	0.97	ARP
DVYA	0.9	0.83	0.86	0.85	0.98	0.97		0.95	0.48	0.95	DVYA
AADR	0.89	0.85	0.89	0.89	0.94	0.97	0.95		0.6	0.98	AADR
HQGO	0.71	0.71	0.73	0.75	0.53	0.6	0.48	0.6		0.6	HQGO
AHLT	0.94	0.91	0.91	0.93	0.96	0.97	0.95	0.98	0.6		AHLT
	VMAX	SURE	AFSM	FLGR	DEEF	ARP	DVYA	AADR	HQGO	AHLT

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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	0.70	0.05	0.05	0.13	0.69	(0.73)	1.40	(1.52)	3.01
SURE	0.67	0.06	0.08	0.15	0.58	(0.79)	1.83	(1.25)	4.06
AFSM	0.82	0.05	0.06	0.12	0.78	(0.86)	1.99	(1.57)	4.41
FLGR	0.70	0.03	0.01	0.12	0.86	(0.71)	1.35	(1.49)	3.57
DEEF	0.55	0.13	0.15	0.31	0.37	(0.62)	1.38	(1.00)	2.82
ARP	0.68	0.08	0.04	0.20	1.01	(0.68)	1.56	(1.35)	6.66
DVYA	0.61	0.16	0.14	0.36	0.50	(0.68)	1.29	(1.01)	4.23
AADR	0.96	0.07	0.05	0.16	1.23	(1.06)	2.40	(2.43)	6.43
HQGO	0.70	(0.08)	0.00	(0.02)	0.00	0.00	1.34	(1.50)	4.24
AHLT	1.04	0.14	0.09	0.21	1.35	(1.05)	2.21	(2.23)	7.15

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