First Trust Correlations

FGD Etf

USD 32.88 0.52 1.61%

The current 90-days correlation between First Trust Dow and iShares Emerging Markets is 0.71 (i.e., Poor 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.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Dow and DJI is 0.87 (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 Dow 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 Dow. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with First Etf

0.97	EFV	iShares MSCI EAFE Low Volatility	Pair Corr
0.97	FNDF	Schwab Fundamental	Pair Corr
0.97	VYMI	Vanguard International	Pair Corr
0.98	IDV	iShares International	Pair Corr
0.99	DFIV	Dimensional International	Pair Corr
0.99	IVLU	iShares Edge MSCI	Pair Corr
0.97	RODM	Hartford Multifactor	Pair Corr
0.97	PXF	Invesco FTSE RAFI	Pair Corr
0.96	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.94	PID	Invesco International	Pair Corr
0.86	SIXD	AIM ETF Products	Pair Corr
0.89	SPMD	SPDR Russell Small	Pair Corr
0.93	GSIG	Goldman Sachs Access	Pair Corr
0.91	GAPR	First Trust Exchange	Pair Corr
0.95	BBEU	JPMorgan BetaBuilders	Pair Corr
0.95	BINC	BlackRock ETF Trust	Pair Corr
0.74	VBK	Vanguard Small Cap	Pair Corr
0.9	MART	Allianzim Large Cap	Pair Corr
0.65	BND	Vanguard Total Bond	Pair Corr
0.9	AHYB	American Century ETF	Pair Corr
0.69	SEIX	Virtus ETF Trust	Pair Corr
0.88	RDIV	Invesco SP Ultra	Pair Corr
0.93	IBMR	iShares Trust	Pair Corr
0.85	OASC	OneAscent Small Cap	Pair Corr
0.89	IAUM	iShares Gold Trust	Pair Corr

Moving against First Etf

0.79	VXX	iPath Series B	Pair Corr
0.79	VIXY	ProShares VIX Short	Pair Corr
0.77	VIXM	ProShares VIX Mid	Pair Corr
0.39	PLTI	REX ETF Trust	Pair Corr
0.37	YCL	ProShares Ultra Yen	Pair Corr
0.77	VXZ	iPath Series B	Pair Corr

Related Correlations Analysis

	EDIV	SYLD	FXH	FYX	ARGT	TOUS	HAUZ	KXI	EIPI	DVYE
EDIV		0.83	0.39	0.81	0.82	0.93	0.95	0.87	0.88	0.99	EDIV
SYLD	0.83		0.58	0.97	0.63	0.94	0.91	0.89	0.78	0.82	SYLD
FXH	0.39	0.58		0.64	0.45	0.54	0.5	0.34	0.3	0.35	FXH
FYX	0.81	0.97	0.64		0.68	0.94	0.88	0.82	0.71	0.78	FYX
ARGT	0.82	0.63	0.45	0.68		0.78	0.76	0.57	0.66	0.79	ARGT
TOUS	0.93	0.94	0.54	0.94	0.78		0.97	0.85	0.79	0.91	TOUS
HAUZ	0.95	0.91	0.5	0.88	0.76	0.97		0.88	0.85	0.94	HAUZ
KXI	0.87	0.89	0.34	0.82	0.57	0.85	0.88		0.92	0.88	KXI
EIPI	0.88	0.78	0.3	0.71	0.66	0.79	0.85	0.92		0.92	EIPI
DVYE	0.99	0.82	0.35	0.78	0.79	0.91	0.94	0.88	0.92		DVYE
	EDIV	SYLD	FXH	FYX	ARGT	TOUS	HAUZ	KXI	EIPI	DVYE

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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
EDIV	0.48	0.00	0.06	0.00	0.33	(0.53)	1.16	(0.79)	2.69
SYLD	0.84	0.13	0.15	0.22	0.62	(1.03)	2.49	(1.33)	4.65
FXH	0.72	0.04	(0.04)	0.28	0.69	(0.83)	1.89	(1.11)	4.18
FYX	0.88	0.11	0.13	0.18	0.75	(1.05)	2.59	(1.57)	4.79
ARGT	1.32	(0.05)	(0.03)	0.04	1.55	(1.51)	3.48	(3.08)	7.69
TOUS	0.63	0.13	0.14	0.26	0.53	(0.70)	1.48	(1.23)	2.88
HAUZ	0.50	0.12	0.09	0.34	0.52	(0.55)	1.10	(1.02)	2.76
KXI	0.54	0.16	0.21	0.68	0.00	(0.72)	1.38	(0.78)	2.65
EIPI	0.52	0.15	0.13	1.07	0.28	(0.65)	1.26	(0.84)	2.83
DVYE	0.58	0.18	0.12	3.13	0.52	(0.66)	1.24	(1.16)	4.30

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