First Trust Correlations

FEUZ Etf

USD 64.98 0.61 0.93%

The current 90-days correlation between First Trust Eurozone and First Trust Exchange Traded is 0.01 (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

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 persons.

Moving together with First Etf

0.97	VGK	Vanguard FTSE Europe	Pair Corr
0.97	EZU	iShares MSCI Eurozone	Pair Corr
0.99	BBEU	JPMorgan BetaBuilders	Pair Corr
0.97	IEUR	iShares Core MSCI	Pair Corr
0.96	FEZ	SPDR EURO STOXX	Pair Corr
0.97	IEV	iShares Europe ETF	Pair Corr
0.9	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.93	EUFN	iShares MSCI Europe	Pair Corr
0.94	DBEU	Xtrackers MSCI Europe	Pair Corr
0.94	HEZU	iShares Currency Hedged	Pair Corr
0.94	AGQ	ProShares Ultra Silver	Pair Corr
0.82	DFEN	Direxion Daily Aerospace	Pair Corr
0.91	DGP	DB Gold Double	Pair Corr
0.9	UGL	ProShares Ultra Gold	Pair Corr
0.93	NUGT	Direxion Daily Gold	Pair Corr
0.79	DIG	ProShares Ultra Oil	Pair Corr
0.81	URNM	Sprott Uranium Miners	Pair Corr
0.67	VHT	Vanguard Health Care	Pair Corr
0.84	EMOT	First Trust Exchange	Pair Corr
0.81	HLAL	Wahed FTSE USA	Pair Corr
0.97	DISV	Dimensional ETF Trust	Pair Corr
0.84	FMF	First Trust Managed	Pair Corr
0.92	GMUB	Goldman Sachs ETF	Pair Corr
0.92	ROMO	Strategy Shares Newf	Pair Corr
0.94	DVY	iShares Select Dividend	Pair Corr
0.9	FTSD	Franklin Liberty Short	Pair Corr
0.84	MUSI	American Century Mul	Pair Corr
0.93	GDXU	MicroSectors Gold Miners	Pair Corr
0.97	RFDI	First Trust RiverFront	Pair Corr
0.87	KORU	Direxion Daily South	Pair Corr
0.96	APRW	AllianzIM Large Cap	Pair Corr
0.91	DMAY	First Trust Exchange	Pair Corr
0.93	TAXT	Northern Trust Tax	Pair Corr
0.89	IGSB	iShares 1 5	Pair Corr
0.64	EUSB	iShares Trust	Pair Corr
0.91	IQSM	Iq Candriam ESG	Pair Corr
0.86	SRLN	SPDR Blackstone Senior	Pair Corr
0.84	VBK	Vanguard Small Cap	Pair Corr

Moving against First Etf

0.8

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	FSZ	CVMC	FLAU	BETZ	RCGE	ICOP	KARS	MINV	MAVF	YDEC
FSZ		0.89	0.79	0.0	0.94	0.93	0.75	0.66	0.86	0.9	FSZ
CVMC	0.89		0.78	0.02	0.94	0.93	0.72	0.69	0.94	0.9	CVMC
FLAU	0.79	0.78		-0.02	0.77	0.77	0.83	0.82	0.7	0.73	FLAU
BETZ	0.0	0.02	-0.02		0.11	-0.18	-0.32	-0.22	0.12	-0.21	BETZ
RCGE	0.94	0.94	0.77	0.11		0.93	0.67	0.67	0.96	0.93	RCGE
ICOP	0.93	0.93	0.77	-0.18	0.93		0.75	0.69	0.91	0.98	ICOP
KARS	0.75	0.72	0.83	-0.32	0.67	0.75		0.86	0.6	0.73	KARS
MINV	0.66	0.69	0.82	-0.22	0.67	0.69	0.86		0.63	0.73	MINV
MAVF	0.86	0.94	0.7	0.12	0.96	0.91	0.6	0.63		0.91	MAVF
YDEC	0.9	0.9	0.73	-0.21	0.93	0.98	0.73	0.73	0.91		YDEC
	FSZ	CVMC	FLAU	BETZ	RCGE	ICOP	KARS	MINV	MAVF	YDEC

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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

YDEC	+ 0.98	ICOP
MAVF	+ 0.96	RCGE
RCGE	+ 0.94	FSZ
RCGE	+ 0.94	CVMC
MAVF	+ 0.94	CVMC
ICOP	+ 0.93	FSZ

High negative correlations

KARS	- 0.32	BETZ
MINV	- 0.22	BETZ
YDEC	- 0.21	BETZ
ICOP	- 0.18	BETZ
BETZ	- 0.02	FLAU
BETZ	- 0.0	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	0.59	0.08	0.05	0.48	0.63	(0.64)	1.30	(1.20)	3.41
CVMC	0.65	0.06	0.02	0.35	0.74	(0.67)	1.57	(1.27)	3.87
FLAU	0.68	0.07	0.04	0.45	0.70	(0.77)	1.46	(1.24)	3.41
BETZ	0.91	(0.23)	0.00	(0.18)	0.00	0.00	1.72	(1.94)	5.66
RCGE	0.50	0.03	0.02	0.10	0.53	(0.52)	1.02	(1.08)	3.14
ICOP	1.47	0.58	0.30	1.70	1.36	(1.76)	3.07	(2.63)	7.15
KARS	1.03	0.10	0.05	0.72	1.12	(1.18)	2.44	(1.78)	6.57
MINV	0.92	0.03	0.02	0.09	1.04	(1.00)	2.25	(1.87)	5.50
MAVF	0.68	0.05	0.06	0.11	0.72	(0.71)	1.43	(1.63)	3.52
YDEC	0.16	0.04	0.00	0.32	0.00	(0.21)	0.45	(0.23)	1.47

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