First Trust Correlations

FGM Etf

USD 37.99 0.32 0.85%

The current 90-days correlation between First Trust Germany and First Trust Switzerland is 0.66 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Germany moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Modest diversification

The correlation between First Trust Germany and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Germany 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 Germany. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with First Etf

0.72	EWA	iShares MSCI Australia	Pair Corr
0.91	EWG	iShares MSCI Germany	Pair Corr
0.62	VEA	Vanguard FTSE Developed	Pair Corr
0.78	VWO	Vanguard FTSE Emerging	Pair Corr
0.68	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.85	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	FSZ	FKU	FJP	FLN	FPA
FSZ		0.89	0.55	0.8	0.48	FSZ
FKU	0.89		0.56	0.79	0.64	FKU
FJP	0.55	0.56		0.6	0.41	FJP
FLN	0.8	0.79	0.6		0.23	FLN
FPA	0.48	0.64	0.41	0.23		FPA
	FSZ	FKU	FJP	FLN	FPA

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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
FSZ	0.69	(0.14)	0.00	(0.28)	0.00	0.00	1.27	(1.35)	3.70
FKU	0.79	(0.12)	0.00	(0.07)	0.00	0.00	1.64	(1.76)	4.47
FJP	1.18	(0.07)	(0.07)	0.02	1.59	(1.13)	2.15	(2.48)	7.07
FLN	0.85	(0.18)	0.00	(0.28)	0.00	0.00	2.06	(1.81)	4.88
FPA	1.04	(0.03)	(0.06)	0.07	1.19	(1.09)	2.57	(2.04)	5.93

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First Trust Correlations

First Trust Correlation With Market

Modest diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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