First Trust Correlations

Etfs . USA . 
Etf . First Trust Capital
FDV Etf   27.94  0.05  0.18%   
The current 90-days correlation between First Trust Capital and First Trust Large is 0.86 (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

FirstDowDiversified AwayFirstDowDiversified Away100%

Very weak diversification

The correlation between First Trust Capital and DJI is 0.53 (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 Capital and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Capital. 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

  0.72VTV Vanguard Value IndexPairCorr
  0.71VYM Vanguard High DividendPairCorr
  0.62IWD iShares Russell 1000PairCorr
  0.74DGRO iShares Core DividendPairCorr
  0.76DVY iShares Select DividendPairCorr
  0.85FVD First Trust ValuePairCorr
  0.72NOBL ProShares SP 500PairCorr
  0.88FIVA Fidelity InternationalPairCorr
  0.86APCB Trust For ProfessionalPairCorr
  0.82FLDB Fidelity Low DurationPairCorr
  0.87HCRB Hartford Core BondPairCorr
  0.77UNL United States 12PairCorr
  0.69AMPS Altus PowerPairCorr
  0.93IXJ iShares Global HealthcarePairCorr
  0.81CAAA First Trust ExchangePairCorr
  0.89GSEU Goldman Sachs ActiveBetaPairCorr
  0.87AVSF American Century ETFPairCorr
  0.84CGUI Capital Group FixedPairCorr
  0.88USTB VictoryShares USAA CorePairCorr
  0.84JCPB JPMorgan Core PlusPairCorr
  0.82BKAG BNY Mellon CorePairCorr
  0.88VHT Vanguard Health CarePairCorr
  0.83AIVI WisdomTree InternationalPairCorr
  0.85INTL Main International ETF Low VolatilityPairCorr
  0.83SPAQ Horizon Kinetics SPACPairCorr
  0.79HAUZ Xtrackers InternationalPairCorr
  0.82SCHO Schwab Short TermPairCorr

Related Correlations Analysis

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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.

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