First Trust Correlations

FDV Etf

28.92 0.03 0.10%

The current 90-days correlation between First Trust Capital and SPDR Global Dow is 0.72 (i.e., 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

Poor diversification

The correlation between First Trust Capital and DJI is 0.68 (i.e., Poor 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.

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 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 small area income & poverty estimates.

Moving together with First Etf

0.76	VTV	Vanguard Value Index	Pair Corr
0.73	VYM	Vanguard High Dividend	Pair Corr
0.72	IWD	iShares Russell 1000	Pair Corr
0.75	DGRO	iShares Core Dividend	Pair Corr
0.77	IVE	iShares SP 500	Pair Corr
0.77	SPYV	SPDR Portfolio SP	Pair Corr
0.79	IUSV	iShares Core SP	Pair Corr
0.82	NOBL	ProShares SP 500	Pair Corr
0.67	FNDX	Schwab Fundamental Large	Pair Corr
0.62	VLUE	iShares MSCI USA	Pair Corr
0.72	GDXU	MicroSectors Gold Miners	Pair Corr
0.75	JNUG	Direxion Daily Junior	Pair Corr
0.77	NUGT	Direxion Daily Gold	Pair Corr
0.73	AGQ	ProShares Ultra Silver Upward Rally	Pair Corr
0.79	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.73	SHNY	Microsectors Gold	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.74	WMT	Walmart Common Stock	Pair Corr

Moving against First Etf

0.43	HPQ	HP Inc	Pair Corr
0.32	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	DGT	GRPM	NTSI	SIXA	BRNY	VFQY	RSPG	QINT	FNY	DBJP
DGT		0.8	0.97	0.9	0.96	0.91	0.47	0.96	0.52	0.85	DGT
GRPM	0.8		0.77	0.79	0.88	0.93	0.39	0.8	0.78	0.54	GRPM
NTSI	0.97	0.77		0.86	0.92	0.88	0.37	0.93	0.59	0.76	NTSI
SIXA	0.9	0.79	0.86		0.9	0.91	0.52	0.92	0.45	0.72	SIXA
BRNY	0.96	0.88	0.92	0.9		0.93	0.49	0.95	0.58	0.82	BRNY
VFQY	0.91	0.93	0.88	0.91	0.93		0.38	0.91	0.67	0.68	VFQY
RSPG	0.47	0.39	0.37	0.52	0.49	0.38		0.52	-0.12	0.61	RSPG
QINT	0.96	0.8	0.93	0.92	0.95	0.91	0.52		0.45	0.82	QINT
FNY	0.52	0.78	0.59	0.45	0.58	0.67	-0.12	0.45		0.18	FNY
DBJP	0.85	0.54	0.76	0.72	0.82	0.68	0.61	0.82	0.18		DBJP
	DGT	GRPM	NTSI	SIXA	BRNY	VFQY	RSPG	QINT	FNY	DBJP

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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

NTSI	+ 0.97	DGT
BRNY	+ 0.96	DGT
QINT	+ 0.96	DGT
QINT	+ 0.95	BRNY
VFQY	+ 0.93	GRPM
QINT	+ 0.93	NTSI

High negative correlations

FNY

- 0.12

RSPG

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
DGT	0.52	0.01	(0.01)	0.10	0.62	(0.54)	1.07	(1.14)	2.71
GRPM	0.83	(0.08)	(0.05)	0.02	1.20	(0.78)	2.07	(1.96)	4.32
NTSI	0.54	0.01	(0.02)	0.11	0.57	(0.60)	1.10	(0.96)	2.43
SIXA	0.45	(0.02)	(0.11)	0.05	0.47	(0.49)	0.87	(0.88)	2.24
BRNY	0.71	0.00	0.00	0.08	1.02	(0.68)	1.36	(1.58)	3.76
VFQY	0.69	(0.03)	(0.02)	0.06	0.88	(0.66)	1.33	(1.35)	3.48
RSPG	1.07	(0.01)	(0.03)	0.08	1.48	(0.95)	1.99	(2.03)	5.76
QINT	0.56	0.03	0.02	0.13	0.68	(0.56)	1.29	(1.28)	2.80
FNY	1.13	(0.07)	(0.02)	0.04	1.40	(1.13)	1.94	(2.29)	6.47
DBJP	0.81	0.13	0.10	0.22	1.05	(0.90)	2.03	(1.39)	8.31

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