First Trust Correlations

FDTS Etf

USD 61.95 0.19 0.31%

The current 90-days correlation between First Trust Developed and MicroSectors Travel 3X is 0.18 (i.e., Average 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 weak diversification

The correlation between First Trust Developed and DJI is 0.58 (i.e., Very weak 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 persons.

Moving together with First Etf

0.99	FNDC	Schwab Fundamental	Pair Corr
0.99	AVDV	Avantis International	Pair Corr
0.97	DLS	WisdomTree International	Pair Corr
0.97	PDN	Invesco FTSE RAFI	Pair Corr
0.98	DISV	Dimensional ETF Trust	Pair Corr
0.98	ISVL	iShares International	Pair Corr
0.98	DIM	WisdomTree International	Pair Corr
0.97	DDLS	WisdomTree Dynamic	Pair Corr
0.95	FYLD	Cambria Foreign Shar	Pair Corr
0.98	CGV	Two Roads Shared	Pair Corr
0.81	OIH	VanEck Oil Services	Pair Corr
0.97	WTMF	WisdomTree Managed	Pair Corr
0.95	EWC	iShares MSCI Canada	Pair Corr
0.85	TOT	Advisor Managed Port	Pair Corr
0.98	SPDW	SPDR SP World	Pair Corr
0.99	FNDF	Schwab Fundamental Sell-off Trend	Pair Corr
0.79	MBB	iShares MBS ETF	Pair Corr
0.78	IEMG	iShares Core MSCI	Pair Corr
0.77	SSO	ProShares Ultra SP500	Pair Corr
0.94	RSSE	First Trust Exchange	Pair Corr
0.95	INOV	Innovator ETFs Trust	Pair Corr
0.95	JEPI	JPMorgan Equity Premium	Pair Corr
0.79	LABU	Direxion Daily SP Downward Rally	Pair Corr
0.93	TJAN	Innovator Equity Defined	Pair Corr
0.76	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.93	FGD	First Trust Dow	Pair Corr
0.84	SPY	SPDR SP 500	Pair Corr
0.88	DJD	Invesco Dow Jones	Pair Corr
0.96	IXUS	iShares Core MSCI	Pair Corr
0.93	FTBI	First Trust Exchange	Pair Corr
0.78	EEMX	SPDR MSCI Emerging	Pair Corr

Moving against First Etf

0.4

ARKW

ARK Next Generation

Pair Corr

Related Correlations Analysis

	FLYU	EMIF	JHDV	BDVG	NBCE	CLIX	HAUS	RFEU	EAOK	EUDV
FLYU		0.42	0.79	0.85	0.65	0.55	0.45	0.82	0.77	0.67	FLYU
EMIF	0.42		0.55	0.69	0.58	0.6	0.8	0.78	0.62	-0.13	EMIF
JHDV	0.79	0.55		0.81	0.76	0.83	0.47	0.81	0.95	0.59	JHDV
BDVG	0.85	0.69	0.81		0.69	0.63	0.68	0.92	0.81	0.39	BDVG
NBCE	0.65	0.58	0.76	0.69		0.79	0.41	0.84	0.75	0.32	NBCE
CLIX	0.55	0.6	0.83	0.63	0.79		0.43	0.71	0.83	0.27	CLIX
HAUS	0.45	0.8	0.47	0.68	0.41	0.43		0.72	0.62	0.14	HAUS
RFEU	0.82	0.78	0.81	0.92	0.84	0.71	0.72		0.85	0.37	RFEU
EAOK	0.77	0.62	0.95	0.81	0.75	0.83	0.62	0.85		0.58	EAOK
EUDV	0.67	-0.13	0.59	0.39	0.32	0.27	0.14	0.37	0.58		EUDV
	FLYU	EMIF	JHDV	BDVG	NBCE	CLIX	HAUS	RFEU	EAOK	EUDV

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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

EAOK	+ 0.95	JHDV
RFEU	+ 0.92	BDVG
BDVG	+ 0.85	FLYU
EAOK	+ 0.85	RFEU
RFEU	+ 0.84	NBCE
CLIX	+ 0.83	JHDV

High negative correlations

EUDV

- 0.13

EMIF

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
FLYU	3.14	0.27	0.04	1.19	4.30	(2.94)	6.21	(8.15)	17.35
EMIF	0.55	0.09	0.05	0.30	0.49	(0.61)	1.46	(0.90)	3.81
JHDV	0.50	(0.01)	(0.05)	0.08	0.70	(0.47)	0.98	(1.19)	2.69
BDVG	0.46	0.06	(0.06)	0.51	0.40	(0.52)	1.04	(0.85)	2.30
NBCE	0.87	0.14	0.04	(4.52)	0.93	(0.93)	1.71	(1.45)	5.05
CLIX	0.88	0.02	(0.01)	0.13	1.11	(0.90)	1.89	(1.92)	5.62
HAUS	0.60	0.08	(0.01)	0.71	0.65	(0.65)	1.48	(1.03)	3.22
RFEU	0.44	0.11	0.04	0.82	0.29	(0.54)	0.95	(0.86)	2.44
EAOK	0.19	0.00	(0.24)	0.09	0.18	(0.21)	0.44	(0.40)	1.09
EUDV	0.52	(0.05)	(0.12)	0.02	0.70	(0.48)	1.17	(1.00)	2.54

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