First Trust Correlations

FEP Etf

USD 36.60 0.26 0.72%

The current 90-days correlation between First Trust Europe and First Trust Emerging is 0.64 (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

Weak diversification

The correlation between First Trust Europe and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Europe 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 Europe. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with First Etf

0.97	VGK	Vanguard FTSE Europe	Pair Corr
0.9	EZU	iShares MSCI Eurozone	Pair Corr
0.97	BBEU	JPMorgan BetaBuilders	Pair Corr
0.97	IEUR	iShares Core MSCI	Pair Corr
0.74	FEZ	SPDR EURO STOXX	Pair Corr
0.97	IEV	iShares Europe ETF	Pair Corr
0.7	FNGD	MicroSectors FANG Index	Pair Corr

Moving against First Etf

0.49	WINN	Harbor Long Term	Pair Corr
0.77	OLO	Olo Inc	Pair Corr
0.77	MINT	PIMCO Enhanced Short	Pair Corr
0.74	SEIX	Virtus ETF Trust	Pair Corr
0.7	TSLL	Direxion Shares ETF Buyout Trend	Pair Corr
0.69	XONE	Bondbloxx Bloomberg One	Pair Corr
0.68	RNSC	First Trust Small Symbol Change	Pair Corr
0.68	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.64	QYLD	Global X NASDAQ	Pair Corr
0.61	FLDR	Fidelity Low Duration	Pair Corr
0.57	NOVP	PGIM Large Cap	Pair Corr
0.53	VUG	Vanguard Growth Index	Pair Corr
0.52	FETH	Fidelity Advantage Ether Buyout Trend	Pair Corr
0.5	PTNQ	Pacer Trendpilot 100	Pair Corr
0.5	XOUT	GraniteShares XOUT Large	Pair Corr
0.77	JAAA	Janus Detroit Street	Pair Corr
0.76	BILS	SPDR Series Trust	Pair Corr
0.73	GDXD	MicroSectors Gold Miners	Pair Corr
0.73	ICSH	iShares Ultra Short	Pair Corr
0.72	BTC	Grayscale Bitcoin Mini	Pair Corr
0.71	TSLY	Tidal Trust II	Pair Corr

Related Correlations Analysis

	FEM	FDT	FTA	FJP	FEX
FEM		0.72	0.27	0.4	0.15	FEM
FDT	0.72		0.61	0.48	0.34	FDT
FTA	0.27	0.61		0.35	0.89	FTA
FJP	0.4	0.48	0.35		0.48	FJP
FEX	0.15	0.34	0.89	0.48		FEX
	FEM	FDT	FTA	FJP	FEX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FEM	0.82	(0.08)	0.00	(0.24)	0.00	0.00	1.68	(2.28)	6.77
FDT	0.54	(0.07)	0.00	(0.22)	0.00	0.00	1.19	(1.40)	3.33
FTA	0.62	(0.02)	(0.04)	(0.02)	0.76	(0.66)	1.17	(0.95)	6.35
FJP	0.90	(0.07)	0.00	(0.18)	0.00	0.00	1.95	(1.77)	5.93
FEX	0.61	0.03	0.02	0.08	0.78	(0.65)	1.36	(1.00)	6.39

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