First Trust Correlations

Etfs . USA . 
Etf . First Trust Large
FEX Etf  USD 108.56  0.77  0.71%   
The current 90-days correlation between First Trust Large and First Trust Large is 0.92 (i.e., Almost no 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 Large and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Large 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 Large. 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

  0.79VTI Vanguard Total StockPairCorr
  0.74SPY SPDR SP 500 Aggressive PushPairCorr
  0.74IVV iShares Core SPPairCorr
  0.87VIG Vanguard DividendPairCorr
  0.73VV Vanguard Large CapPairCorr
  0.93RSP Invesco SP 500PairCorr
  0.77IWB iShares Russell 1000PairCorr
  0.76ESGU iShares ESG AwarePairCorr
  0.95DFAC Dimensional Core EquityPairCorr
  0.74SPLG SPDR Portfolio SPPairCorr
  0.84VTV Vanguard Value IndexPairCorr
  0.99VO Vanguard Mid CapPairCorr
  0.96VB Vanguard Small CapPairCorr
  0.83IYG iShares FinancialPairCorr
  0.61ETHT ProShares Trust Upward RallyPairCorr
  0.73Z Zillow Group ClassPairCorr
  0.62AUGP PGIM Large CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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