First Trust Correlations

FEX Etf

USD 123.22 0.29 0.23%

The current 90-days correlation between First Trust Large and First Trust Large is 0.9 (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

Very poor diversification

The correlation between First Trust Large and DJI is 0.84 (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 Large 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 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 median.

Moving together with First Etf

0.94	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.91	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.91	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.95	VIG	Vanguard Dividend	Pair Corr
0.9	VV	Vanguard Large Cap	Pair Corr
0.98	RSP	Invesco SP 500	Pair Corr
0.93	IWB	iShares Russell 1000 Sell-off Trend	Pair Corr
0.88	ESGU	iShares ESG Aware	Pair Corr
0.98	DFAC	Dimensional Core Equity	Pair Corr
0.79	SPLG	SSgA Symbol Change	Pair Corr
0.96	CPST	Calamos ETF Trust	Pair Corr
0.98	ITDD	iShares Trust	Pair Corr
0.98	RYLG	Global X Russell	Pair Corr
0.92	SPUT	Innovator ETFs Trust	Pair Corr
0.95	DDX	Defined Duration Symbol Change	Pair Corr
0.96	KFEB	Innovator Small Cap	Pair Corr
0.83	SOXL	Direxion Daily Semic Aggressive Push	Pair Corr
0.83	JPIE	JP Morgan Exchange	Pair Corr
0.83	SKOR	FlexShares Credit	Pair Corr
0.86	FUSI	American Century ETF	Pair Corr
0.9	SMH	VanEck Semiconductor ETF	Pair Corr
0.88	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.9	GQI	Natixis ETF Trust	Pair Corr
0.74	NVMZ	TrueShares Structured	Pair Corr
0.96	EFA	iShares MSCI EAFE	Pair Corr
0.92	FIVA	Fidelity International	Pair Corr
0.88	IWO	iShares Russell 2000	Pair Corr
0.78	VGSH	Vanguard Short Term Sell-off Trend	Pair Corr
0.87	DBP	Invesco DB Precious	Pair Corr
0.97	VT	Vanguard Total World	Pair Corr
0.93	GAPR	First Trust Exchange	Pair Corr
0.8	PBDC	Putnam ETF Trust	Pair Corr
0.88	PAPI	Morgan Stanley ETF	Pair Corr
0.79	SGVT	Schwab Strategic Trust	Pair Corr
0.89	HDUS	Lattice Strategies Trust	Pair Corr
0.94	SCYB	Schwab Strategic Trust	Pair Corr
0.94	XLI	Industrial Select Sector Aggressive Push	Pair Corr

Moving against First Etf

0.61

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	FTC	FTA	FNX	FXL	FYX	RPV	FXU	PKW	GLOV	GSEW
FTC		0.52	0.8	0.95	0.72	0.57	-0.26	0.71	0.58	0.85	FTC
FTA	0.52		0.88	0.42	0.94	0.99	-0.55	0.92	0.96	0.85	FTA
FNX	0.8	0.88		0.7	0.98	0.89	-0.41	0.95	0.84	0.98	FNX
FXL	0.95	0.42	0.7		0.64	0.47	-0.36	0.61	0.46	0.75	FXL
FYX	0.72	0.94	0.98	0.64		0.95	-0.53	0.96	0.9	0.95	FYX
RPV	0.57	0.99	0.89	0.47	0.95		-0.54	0.92	0.94	0.88	RPV
FXU	-0.26	-0.55	-0.41	-0.36	-0.53	-0.54		-0.51	-0.5	-0.37	FXU
PKW	0.71	0.92	0.95	0.61	0.96	0.92	-0.51		0.91	0.94	PKW
GLOV	0.58	0.96	0.84	0.46	0.9	0.94	-0.5	0.91		0.84	GLOV
GSEW	0.85	0.85	0.98	0.75	0.95	0.88	-0.37	0.94	0.84		GSEW
	FTC	FTA	FNX	FXL	FYX	RPV	FXU	PKW	GLOV	GSEW

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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

RPV	+ 0.99	FTA
FYX	+ 0.98	FNX
GSEW	+ 0.98	FNX
GLOV	+ 0.96	FTA
PKW	+ 0.96	FYX
FXL	+ 0.95	FTC

High negative correlations

FXU	- 0.55	FTA
FXU	- 0.54	RPV
FXU	- 0.53	FYX
PKW	- 0.51	FXU
GLOV	- 0.5	FXU
FXU	- 0.41	FNX

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
FTC	0.93	(0.06)	(0.03)	0.04	1.20	(0.91)	1.51	(2.34)	5.19
FTA	0.57	0.04	0.03	0.15	0.48	(0.62)	1.23	(1.06)	3.31
FNX	0.79	(0.01)	0.01	0.08	0.81	(0.87)	1.52	(1.47)	3.85
FXL	1.02	(0.05)	(0.02)	0.05	1.39	(0.98)	1.90	(2.77)	5.29
FYX	0.87	0.04	0.06	0.12	0.81	(1.00)	2.05	(1.56)	4.32
RPV	0.64	0.06	0.06	0.17	0.58	(0.71)	1.59	(1.43)	3.66
FXU	0.57	(0.03)	(0.11)	(0.02)	0.81	(0.54)	1.03	(1.21)	3.35
PKW	0.67	(0.03)	(0.04)	0.06	0.76	(0.73)	1.27	(1.46)	3.30
GLOV	0.38	0.00	(0.11)	0.08	0.33	(0.42)	0.81	(0.64)	1.96
GSEW	0.60	(0.02)	(0.03)	0.07	0.70	(0.64)	1.16	(1.13)	2.67

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