First Trust Correlations

FEUZ Etf

USD 67.99 0.12 0.18%

The current 90-days correlation between First Trust Eurozone and iShares MSCI Kuwait is 0.11 (i.e., Average 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

Very poor diversification

The correlation between First Trust Eurozone and DJI is 0.89 (i.e., Very poor 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 manufacturing.

Moving together with First Etf

0.99	VGK	Vanguard FTSE Europe Sell-off Trend	Pair Corr
0.99	EZU	iShares MSCI Eurozone Sell-off Trend	Pair Corr
0.99	BBEU	JPMorgan BetaBuilders	Pair Corr
0.99	IEUR	iShares Core MSCI Sell-off Trend	Pair Corr
0.98	FEZ	SPDR EURO STOXX Sell-off Trend	Pair Corr
0.99	IEV	iShares Europe ETF	Pair Corr
0.95	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.85	EUFN	iShares MSCI Europe	Pair Corr
0.97	DBEU	Xtrackers MSCI Europe	Pair Corr
0.97	HEZU	iShares Currency Hedged	Pair Corr
0.68	TOT	Advisor Managed Port	Pair Corr
0.84	SHLD	Global X Defense	Pair Corr
0.75	LUX	Tema Global	Pair Corr
0.83	FB	ProShares Trust ProShares	Pair Corr
0.93	SWP	SWP Growth Income	Pair Corr
0.84	FNGD	MicroSectors FANG Index Potential Growth	Pair Corr
0.8	CALY	Callaway Golf Symbol Change	Pair Corr
0.88	VDC	Vanguard Consumer Staples	Pair Corr
0.89	GPGCX	Grandeur Peak Global	Pair Corr
0.87	ERET	iShares Environmentally	Pair Corr
0.99	DFIV	Dimensional International Sell-off Trend	Pair Corr
0.98	DFE	WisdomTree Europe	Pair Corr
0.93	RHRX	Starboard Investment	Pair Corr
0.85	PAUG	Innovator Equity Power	Pair Corr
0.96	FNK	First Trust Mid	Pair Corr
0.96	FTCS	First Trust Capital	Pair Corr
0.89	LALT	Invesco Multi Strategy	Pair Corr
0.9	DIA	SPDR Dow Jones	Pair Corr
0.97	AHYB	American Century ETF	Pair Corr
0.99	ESGD	iShares ESG Aware	Pair Corr
0.95	UEVM	VictoryShares Emerging	Pair Corr
0.92	QTAP	Innovator Growth 100	Pair Corr
0.98	STXV	EA Series Trust	Pair Corr
0.98	ILOW	AB Active ETFs	Pair Corr
0.97	FEM	First Trust Emerging	Pair Corr
0.69	FUTS	Future Science Holdings	Pair Corr
0.85	URA	Global X Uranium	Pair Corr
0.99	IOCT	Innovator ETFs Trust	Pair Corr

Moving against First Etf

0.64	HUM	Humana Inc	Pair Corr
0.41	IND	Xtrackers Nifty 500	Pair Corr

Related Correlations Analysis

	FSZ	FGM	FKU	FCA	RFDA	CRDT	IQDY	RAYE	USAI	KWT
FSZ		0.97	0.98	0.91	0.81	0.61	0.97	0.67	0.85	-0.69	FSZ
FGM	0.97		0.98	0.92	0.84	0.63	0.99	0.63	0.82	-0.69	FGM
FKU	0.98	0.98		0.92	0.84	0.66	0.98	0.63	0.82	-0.7	FKU
FCA	0.91	0.92	0.92		0.67	0.68	0.95	0.74	0.89	-0.84	FCA
RFDA	0.81	0.84	0.84	0.67		0.43	0.82	0.42	0.57	-0.44	RFDA
CRDT	0.61	0.63	0.66	0.68	0.43		0.64	0.21	0.42	-0.59	CRDT
IQDY	0.97	0.99	0.98	0.95	0.82	0.64		0.69	0.87	-0.74	IQDY
RAYE	0.67	0.63	0.63	0.74	0.42	0.21	0.69		0.89	-0.65	RAYE
USAI	0.85	0.82	0.82	0.89	0.57	0.42	0.87	0.89		-0.75	USAI
KWT	-0.69	-0.69	-0.7	-0.84	-0.44	-0.59	-0.74	-0.65	-0.75		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	+ 0.99	FGM
FKU	+ 0.98	FSZ
FKU	+ 0.98	FGM
IQDY	+ 0.98	FKU
FGM	+ 0.97	FSZ
IQDY	+ 0.97	FSZ

High negative correlations

KWT	- 0.84	FCA
KWT	- 0.75	USAI
KWT	- 0.74	IQDY
KWT	- 0.7	FKU
KWT	- 0.69	FGM
KWT	- 0.69	FSZ

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	0.53	0.14	0.14	0.39	0.25	(0.64)	1.32	(0.90)	3.35
FGM	0.72	0.23	0.20	0.40	0.65	(0.85)	1.96	(1.27)	4.72
FKU	0.71	0.23	0.21	0.40	0.57	(0.84)	1.88	(0.84)	4.95
FCA	1.01	0.22	0.10	0.77	1.14	(1.06)	2.04	(2.10)	7.63
RFDA	0.49	0.01	(0.04)	0.12	0.58	(0.55)	1.18	(0.93)	3.68
CRDT	0.28	0.02	(0.16)	0.27	0.44	(0.26)	0.69	(0.55)	2.30
IQDY	0.60	0.18	0.21	0.36	0.27	(0.73)	1.39	(1.25)	4.20
RAYE	1.43	0.16	0.03	0.89	1.81	(1.76)	4.86	(2.96)	12.98
USAI	0.75	0.28	0.19	6.12	0.57	(0.90)	1.62	(1.31)	3.89
KWT	0.65	(0.05)	0.00	(0.34)	0.00	0.00	1.07	(1.31)	8.55

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