First Trust Correlations

FEUZ Etf

USD 65.38 0.59 0.89%

The current 90-days correlation between First Trust Eurozone and iShares MSCI Kuwait is 0.02 (i.e., Significant 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

Almost no diversification

The correlation between First Trust Eurozone and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Eurozone 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 Eurozone. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with First Etf

0.97	VGK	Vanguard FTSE Europe	Pair Corr
0.96	EZU	iShares MSCI Eurozone	Pair Corr
0.99	BBEU	JPMorgan BetaBuilders	Pair Corr
0.99	IEUR	iShares Core MSCI	Pair Corr
0.95	FEZ	SPDR EURO STOXX	Pair Corr
0.97	IEV	iShares Europe ETF	Pair Corr
0.91	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.94	EUFN	iShares MSCI Europe	Pair Corr
0.97	DBEU	Xtrackers MSCI Europe	Pair Corr
0.96	HEZU	iShares Currency Hedged	Pair Corr
0.88	SMH	VanEck Semiconductor ETF	Pair Corr
0.66	UPRO	ProShares UltraPro SP500 Sell-off Trend	Pair Corr
0.66	SPXL	Direxion Daily SP500 Sell-off Trend	Pair Corr
0.86	SOXX	iShares Semiconductor ETF	Pair Corr
0.91	PSI	Invesco Dynamic Semi	Pair Corr
0.94	LIT	Global X Lithium	Pair Corr
0.88	JANH	Innovator Equity Premium	Pair Corr
0.9	LITL	Simplify Exchange Traded Potential Growth	Pair Corr
0.92	DHSB	Strategy Shares	Pair Corr
0.95	MMSD	New York Life	Pair Corr
0.96	MOOD	Relative Sentiment	Pair Corr
0.93	SGOL	abrdn Physical Gold	Pair Corr
0.9	EPEM	Harbor ETF Trust	Pair Corr
0.96	IWD	iShares Russell 1000	Pair Corr
0.84	XOMO	Yieldmax XOM Option	Pair Corr
0.85	EEMX	SPDR MSCI Emerging	Pair Corr
0.93	GLDX	USCF Gold Strategy	Pair Corr
0.95	HYUP	Xtrackers High Beta	Pair Corr
0.91	KCE	SPDR SP Capital	Pair Corr
0.95	IBMQ	iShares Trust	Pair Corr
0.96	SIVR	abrdn Physical Silver	Pair Corr
0.94	SPVM	Invesco SP 500	Pair Corr
0.94	GDX	VanEck Gold Miners Aggressive Push	Pair Corr

Moving against First Etf

0.4

GBTC

Grayscale Bitcoin Trust

Pair Corr

Related Correlations Analysis

	FSZ	FGM	FKU	FCA	RFDA	CRDT	IQDY	RAYE	USAI	KWT
FSZ		0.94	0.97	0.71	0.76	0.78	0.9	0.1	0.63	-0.29	FSZ
FGM	0.94		0.96	0.77	0.77	0.81	0.98	0.14	0.7	-0.34	FGM
FKU	0.97	0.96		0.73	0.76	0.83	0.93	0.12	0.66	-0.33	FKU
FCA	0.71	0.77	0.73		0.49	0.89	0.8	-0.06	0.63	-0.64	FCA
RFDA	0.76	0.77	0.76	0.49		0.48	0.78	-0.11	0.41	-0.03	RFDA
CRDT	0.78	0.81	0.83	0.89	0.48		0.83	0.09	0.71	-0.65	CRDT
IQDY	0.9	0.98	0.93	0.8	0.78	0.83		0.13	0.73	-0.41	IQDY
RAYE	0.1	0.14	0.12	-0.06	-0.11	0.09	0.13		0.29	0.01	RAYE
USAI	0.63	0.7	0.66	0.63	0.41	0.71	0.73	0.29		-0.47	USAI
KWT	-0.29	-0.34	-0.33	-0.64	-0.03	-0.65	-0.41	0.01	-0.47		KWT
	FSZ	FGM	FKU	FCA	RFDA	CRDT	IQDY	RAYE	USAI	KWT

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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

IQDY	+ 0.98	FGM
FKU	+ 0.97	FSZ
FKU	+ 0.96	FGM
FGM	+ 0.94	FSZ
IQDY	+ 0.93	FKU
IQDY	+ 0.9	FSZ

High negative correlations

KWT	- 0.65	CRDT
KWT	- 0.64	FCA
KWT	- 0.47	USAI
KWT	- 0.41	IQDY
KWT	- 0.34	FGM
KWT	- 0.33	FKU

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
FSZ	0.58	0.09	0.10	0.22	0.52	(0.66)	1.30	(1.12)	3.41
FGM	0.74	0.21	0.19	0.31	0.72	(0.82)	1.80	(1.73)	4.72
FKU	0.63	0.16	0.18	0.31	0.44	(0.74)	1.40	(0.84)	2.83
FCA	0.93	0.17	0.10	0.46	0.99	(0.96)	1.93	(1.92)	5.55
RFDA	0.47	0.02	(0.05)	0.22	0.62	(0.50)	1.22	(1.23)	3.65
CRDT	0.23	0.03	(0.15)	(1.68)	0.19	(0.24)	0.56	(0.43)	1.27
IQDY	0.55	0.18	0.16	1.13	0.43	(0.61)	1.31	(1.11)	2.74
RAYE	1.48	0.00	(0.01)	0.07	1.98	(1.63)	3.73	(3.00)	13.90
USAI	0.73	0.11	0.05	1.01	0.77	(0.79)	1.59	(1.25)	4.09
KWT	0.60	(0.05)	0.00	(0.52)	0.00	0.00	1.04	(1.14)	8.55

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