First Trust Correlations

FDT Etf

USD 92.40 0.35 0.38%

The current 90-days correlation between First Trust Developed and BlackRock ETF Trust is 0.84 (i.e., Very poor 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

Very poor diversification

The correlation between First Trust Developed and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Developed 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 Developed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Etf

0.97	EFV	iShares MSCI EAFE	Pair Corr
0.99	FNDF	Schwab Fundamental	Pair Corr
0.98	VYMI	Vanguard International	Pair Corr
0.98	IDV	iShares International Sell-off Trend	Pair Corr
0.96	DFIV	Dimensional International	Pair Corr
0.96	IVLU	iShares Edge MSCI	Pair Corr
0.97	RODM	Hartford Multifactor	Pair Corr
0.99	PXF	Invesco FTSE RAFI	Pair Corr
0.92	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.98	PID	Invesco International	Pair Corr
0.84	SIXD	AIM ETF Products	Pair Corr
0.93	SPMD	SPDR Russell Small Sell-off Trend	Pair Corr
0.89	GSIG	Goldman Sachs Access	Pair Corr
0.89	GAPR	First Trust Exchange	Pair Corr
0.96	BBEU	JPMorgan BetaBuilders	Pair Corr
0.94	BINC	BlackRock ETF Trust	Pair Corr
0.82	VBK	Vanguard Small Cap	Pair Corr
0.89	MART	Allianzim Large Cap	Pair Corr
0.66	BND	Vanguard Total Bond	Pair Corr
0.88	AHYB	American Century ETF	Pair Corr
0.72	SEIX	Virtus ETF Trust	Pair Corr
0.89	RDIV	Invesco SP Ultra	Pair Corr
0.97	IBMR	iShares Trust	Pair Corr
0.85	OASC	OneAscent Small Cap	Pair Corr
0.96	IAUM	iShares Gold Trust	Pair Corr

Moving against First Etf

0.75	VXX	iPath Series B	Pair Corr
0.75	VIXY	ProShares VIX Short	Pair Corr
0.73	VIXM	ProShares VIX Mid	Pair Corr
0.45	PLTI	REX ETF Trust	Pair Corr
0.35	YCL	ProShares Ultra Yen	Pair Corr
0.73	VXZ	iPath Series B	Pair Corr

Related Correlations Analysis

	FEM	FDD	FYC	JHEM	IAT	GSSC	OSCV	DOL	IAK	BIDD
FEM		0.9	0.79	0.99	0.78	0.8	0.87	0.95	-0.01	0.97	FEM
FDD	0.9		0.86	0.9	0.94	0.88	0.87	0.98	0.33	0.97	FDD
FYC	0.79	0.86		0.77	0.86	0.99	0.8	0.84	0.19	0.86	FYC
JHEM	0.99	0.9	0.77		0.78	0.79	0.87	0.96	-0.01	0.97	JHEM
IAT	0.78	0.94	0.86	0.78		0.9	0.89	0.91	0.43	0.89	IAT
GSSC	0.8	0.88	0.99	0.79	0.9		0.87	0.86	0.2	0.88	GSSC
OSCV	0.87	0.87	0.8	0.87	0.89	0.87		0.92	0.11	0.91	OSCV
DOL	0.95	0.98	0.84	0.96	0.91	0.86	0.92		0.21	0.99	DOL
IAK	-0.01	0.33	0.19	-0.01	0.43	0.2	0.11	0.21		0.15	IAK
BIDD	0.97	0.97	0.86	0.97	0.89	0.88	0.91	0.99	0.15		BIDD
	FEM	FDD	FYC	JHEM	IAT	GSSC	OSCV	DOL	IAK	BIDD

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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

JHEM	+ 0.99	FEM
GSSC	+ 0.99	FYC
BIDD	+ 0.99	DOL
DOL	+ 0.98	FDD
BIDD	+ 0.97	FEM
BIDD	+ 0.97	FDD

High negative correlations

IAK	- 0.01	JHEM
IAK	- 0.01	FEM

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
FEM	0.76	0.15	0.11	0.35	0.78	(0.80)	1.57	(1.26)	5.07
FDD	0.67	0.19	0.16	0.37	0.56	(0.72)	1.71	(1.35)	4.29
FYC	1.11	0.02	0.04	0.10	1.22	(1.22)	2.21	(2.10)	5.20
JHEM	0.65	0.12	0.11	0.29	0.50	(0.71)	1.80	(1.04)	4.06
IAT	0.94	0.29	0.26	0.40	0.64	(1.10)	2.42	(1.19)	5.68
GSSC	0.87	0.04	0.05	0.12	0.90	(0.99)	2.01	(1.64)	4.39
OSCV	0.60	0.10	0.12	0.23	0.35	(0.70)	1.76	(0.94)	3.35
DOL	0.62	0.17	0.19	0.33	0.42	(0.70)	1.35	(1.18)	3.30
IAK	0.64	0.11	0.05	0.94	0.60	(0.73)	1.68	(0.84)	5.19
BIDD	0.57	0.11	0.11	0.25	0.49	(0.62)	1.32	(1.02)	2.86

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