First Trust Correlations

FEP Etf

USD 54.39 0.64 1.19%

The current 90-days correlation between First Trust Europe and First Trust Emerging is 0.66 (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

Average diversification

The correlation between First Trust Europe and DJI is 0.16 (i.e., Average 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.

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 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 american community survey.

Moving together with First Etf

0.8	VGK	Vanguard FTSE Europe	Pair Corr
0.81	EZU	iShares MSCI Eurozone	Pair Corr
0.98	BBEU	JPMorgan BetaBuilders	Pair Corr
0.81	IEUR	iShares Core MSCI	Pair Corr
0.7	FEZ	SPDR EURO STOXX	Pair Corr
0.98	IEV	iShares Europe ETF	Pair Corr
0.86	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.8	EUFN	iShares MSCI Europe	Pair Corr
0.95	DBEU	Xtrackers MSCI Europe	Pair Corr
0.71	HEZU	iShares Currency Hedged	Pair Corr
0.63	FB	ProShares Trust ProShares	Pair Corr
0.76	SWP	SWP Growth Income	Pair Corr
0.87	DUKH	Ocean Park High	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.7	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr

Moving against First Etf

0.4	PG	Procter Gamble	Pair Corr
0.37	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	FEMS	FXD	FAD	FCG	FJP	FEM	FXN	DGRS	CDL	SFLO
FEMS		0.6	0.65	0.37	0.16	0.66	0.51	0.55	0.54	0.66	FEMS
FXD	0.6		0.76	0.24	0.43	0.56	0.45	0.85	0.82	0.93	FXD
FAD	0.65	0.76		-0.09	0.05	0.52	0.13	0.75	0.43	0.68	FAD
FCG	0.37	0.24	-0.09		0.52	0.34	0.94	-0.02	0.42	0.54	FCG
FJP	0.16	0.43	0.05	0.52		0.4	0.58	0.33	0.36	0.54	FJP
FEM	0.66	0.56	0.52	0.34	0.4		0.55	0.39	0.41	0.58	FEM
FXN	0.51	0.45	0.13	0.94	0.58	0.55		0.19	0.5	0.71	FXN
DGRS	0.55	0.85	0.75	-0.02	0.33	0.39	0.19		0.62	0.75	DGRS
CDL	0.54	0.82	0.43	0.42	0.36	0.41	0.5	0.62		0.77	CDL
SFLO	0.66	0.93	0.68	0.54	0.54	0.58	0.71	0.75	0.77		SFLO
	FEMS	FXD	FAD	FCG	FJP	FEM	FXN	DGRS	CDL	SFLO

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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

FXN	+ 0.94	FCG
SFLO	+ 0.93	FXD
DGRS	+ 0.85	FXD
CDL	+ 0.82	FXD
SFLO	+ 0.77	CDL
FAD	+ 0.76	FXD

High negative correlations

FCG	- 0.09	FAD
DGRS	- 0.02	FCG

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
FEMS	0.64	(0.01)	(0.07)	0.03	0.91	(0.64)	1.33	(1.53)	3.56
FXD	0.88	0.06	0.00	0.76	0.99	(0.94)	2.04	(1.67)	4.45
FAD	1.05	0.05	(0.01)	(2.69)	1.31	(1.13)	1.74	(2.21)	5.75
FCG	1.28	(0.01)	0.00	0.12	0.00	0.00	2.71	(2.35)	6.65
FJP	0.69	0.07	0.00	0.94	0.99	(0.68)	1.34	(1.37)	4.77
FEM	0.75	0.07	0.00	0.75	1.00	(0.74)	1.62	(1.59)	4.97
FXN	1.13	0.07	(0.01)	(0.35)	1.60	(1.03)	2.31	(1.99)	6.13
DGRS	0.79	(0.06)	(0.05)	0.02	0.95	(0.91)	2.30	(1.68)	4.65
CDL	0.48	0.00	(0.11)	0.04	0.60	(0.50)	0.97	(1.05)	2.60
SFLO	0.78	0.04	(0.02)	0.97	1.02	(0.82)	2.01	(1.62)	4.14

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