First Trust Correlations

FDTS Etf

USD 58.60 0.21 0.36%

The current 90-days correlation between First Trust Developed and MicroSectors Travel 3X is 0.51 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Developed and DJI is 0.63 (i.e., 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 population.

Moving together with First Etf

0.82	FNDC	Schwab Fundamental	Pair Corr
0.74	AVDV	Avantis International	Pair Corr
0.78	DLS	WisdomTree International	Pair Corr
0.8	PDN	Invesco FTSE RAFI	Pair Corr
0.76	DISV	Dimensional ETF Trust	Pair Corr
0.77	ISVL	iShares International	Pair Corr
0.75	DIM	WisdomTree International	Pair Corr
0.78	DDLS	WisdomTree Dynamic	Pair Corr
0.79	FYLD	Cambria Foreign Shar	Pair Corr
0.93	CGV	Two Roads Shared	Pair Corr
0.72	WSML	iShares MSCI World	Pair Corr
0.64	MDBX	Tradr 2X Long	Pair Corr
0.65	CPSR	Calamos SP 500	Pair Corr
0.9	PMSE	PGIM SP 500	Pair Corr
0.65	FJUL	FT Cboe Vest	Pair Corr
0.62	SIL	Global X Silver	Pair Corr
0.76	BATT	Amplify Lithium Battery	Pair Corr
0.69	DFAX	Dimensional World	Pair Corr
0.69	SNPD	DBX ETF Trust	Pair Corr
0.72	CPER	United States Copper	Pair Corr
0.67	APRT	AllianzIM Large Cap	Pair Corr
0.84	SCJ	iShares MSCI Japan	Pair Corr
0.67	QQJG	Invesco ESG NASDAQ	Pair Corr

Moving against First Etf

0.43	SWIN	Alps Earnings Call This Week	Pair Corr
0.32	JEM	707 Cayman Holdings	Pair Corr

Related Correlations Analysis

	FLYU	EMIF	JHDV	BDVG	NBCE	CLIX	HAUS	RFEU	EAOK	EUDV
FLYU		0.0	0.46	0.56	0.25	0.27	0.1	0.21	0.13	0.56	FLYU
EMIF	0.0		0.32	0.57	0.12	0.19	0.74	0.78	0.63	-0.52	EMIF
JHDV	0.46	0.32		0.78	0.59	0.67	0.07	0.64	0.73	0.29	JHDV
BDVG	0.56	0.57	0.78		0.34	0.4	0.49	0.79	0.68	0.14	BDVG
NBCE	0.25	0.12	0.59	0.34		0.77	-0.2	0.24	0.2	0.0	NBCE
CLIX	0.27	0.19	0.67	0.4	0.77		-0.06	0.29	0.35	0.02	CLIX
HAUS	0.1	0.74	0.07	0.49	-0.2	-0.06		0.49	0.36	-0.23	HAUS
RFEU	0.21	0.78	0.64	0.79	0.24	0.29	0.49		0.87	-0.07	RFEU
EAOK	0.13	0.63	0.73	0.68	0.2	0.35	0.36	0.87		0.05	EAOK
EUDV	0.56	-0.52	0.29	0.14	0.0	0.02	-0.23	-0.07	0.05		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	+ 0.87	RFEU
RFEU	+ 0.79	BDVG
RFEU	+ 0.78	EMIF
BDVG	+ 0.78	JHDV
CLIX	+ 0.77	NBCE
HAUS	+ 0.74	EMIF

High negative correlations

EUDV	- 0.52	EMIF
EUDV	- 0.23	HAUS
HAUS	- 0.2	NBCE
EUDV	- 0.07	RFEU
HAUS	- 0.06	CLIX
EUDV	- 0.0	NBCE

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	3.31	(0.15)	0.01	0.03	4.76	(3.03)	6.14	(8.15)	17.35
EMIF	0.58	0.05	0.02	0.15	0.63	(0.61)	1.46	(1.46)	3.81
JHDV	0.62	(0.03)	(0.03)	0.03	1.02	(0.54)	1.04	(1.41)	4.55
BDVG	0.47	(0.02)	(0.06)	0.05	0.52	(0.53)	0.95	(0.94)	2.21
NBCE	0.92	0.02	(0.01)	0.11	1.35	(0.90)	1.71	(1.58)	7.56
CLIX	1.02	(0.04)	(0.04)	0.02	1.48	(0.94)	2.06	(2.08)	6.31
HAUS	0.60	(0.01)	(0.06)	0.05	0.76	(0.62)	1.41	(1.03)	3.57
RFEU	0.51	0.06	0.05	0.16	0.47	(0.56)	1.11	(0.86)	2.66
EAOK	0.21	0.00	(0.15)	0.07	0.22	(0.22)	0.47	(0.44)	1.28
EUDV	0.59	0.01	(0.07)	0.16	0.71	(0.60)	1.20	(1.00)	2.84

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