First Trust Correlations

FICS Etf

USD 40.94 0.47 1.16%

The current 90-days correlation between First Trust International and Direxion Daily SP is 0.22 (i.e., Modest 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 International 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 International 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 International. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Etf

0.83	EFG	iShares MSCI EAFE	Pair Corr
0.94	VIGI	Vanguard International	Pair Corr
0.91	IHDG	WisdomTree International	Pair Corr
0.83	GRIN	VictoryShares International	Pair Corr
0.82	CGXU	Capital Group Intern	Pair Corr
0.85	DNL	WisdomTree Global	Pair Corr
0.71	FPXI	First Trust International	Pair Corr
0.94	IQDG	WisdomTree International	Pair Corr
0.86	PIZ	Invesco DWA Developed	Pair Corr
0.89	IDHQ	Invesco SP International	Pair Corr
0.94	CPST	Calamos ETF Trust	Pair Corr
0.92	ITDD	iShares Trust	Pair Corr
0.84	GDXU	MicroSectors Gold Miners	Pair Corr
0.87	FDRR	Fidelity Dividend ETF	Pair Corr
0.75	FMF	First Trust Managed	Pair Corr
0.89	TAXT	Northern Trust Tax	Pair Corr
0.83	AGQ	ProShares Ultra Silver	Pair Corr
0.72	EUSB	iShares Trust	Pair Corr
0.93	DISV	Dimensional ETF Trust	Pair Corr
0.91	FLXR	TCW ETF Trust	Pair Corr
0.94	DMAY	First Trust Exchange	Pair Corr
0.81	HLAL	Wahed FTSE USA	Pair Corr
0.71	KORU	Direxion Daily South	Pair Corr
0.86	FNX	First Trust Mid	Pair Corr

Moving against First Etf

0.77

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	AVMC	FXZ	EFAA	DBAW	MFUS	SIO	FUNL	QVMS	IQSI	SPUU
AVMC		0.95	0.96	0.94	0.99	0.84	0.96	0.94	0.95	0.75	AVMC
FXZ	0.95		0.94	0.95	0.95	0.83	0.97	0.94	0.94	0.68	FXZ
EFAA	0.96	0.94		0.97	0.96	0.81	0.94	0.87	0.99	0.71	EFAA
DBAW	0.94	0.95	0.97		0.95	0.78	0.9	0.85	0.97	0.67	DBAW
MFUS	0.99	0.95	0.96	0.95		0.84	0.94	0.92	0.96	0.76	MFUS
SIO	0.84	0.83	0.81	0.78	0.84		0.84	0.78	0.8	0.65	SIO
FUNL	0.96	0.97	0.94	0.9	0.94	0.84		0.95	0.92	0.75	FUNL
QVMS	0.94	0.94	0.87	0.85	0.92	0.78	0.95		0.86	0.75	QVMS
IQSI	0.95	0.94	0.99	0.97	0.96	0.8	0.92	0.86		0.73	IQSI
SPUU	0.75	0.68	0.71	0.67	0.76	0.65	0.75	0.75	0.73		SPUU
	AVMC	FXZ	EFAA	DBAW	MFUS	SIO	FUNL	QVMS	IQSI	SPUU

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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
AVMC	0.65	0.07	0.06	0.38	0.68	(0.68)	1.69	(1.40)	3.59
FXZ	1.08	0.17	0.13	0.17	1.11	(1.15)	2.43	(2.51)	4.43
EFAA	0.44	0.09	0.11	2.08	0.40	(0.48)	0.95	(0.79)	2.80
DBAW	0.49	0.11	0.11	1.22	0.52	(0.53)	1.10	(1.16)	3.25
MFUS	0.52	0.06	0.05	0.54	0.58	(0.54)	1.08	(1.14)	2.85
SIO	0.19	0.00	(0.11)	0.09	0.22	(0.24)	0.39	(0.42)	1.96
FUNL	0.60	0.05	0.06	0.09	0.62	(0.68)	1.20	(1.32)	3.89
QVMS	0.80	0.03	0.04	0.06	0.85	(0.94)	2.11	(1.57)	4.91
IQSI	0.59	0.09	0.09	0.80	0.61	(0.64)	1.07	(1.21)	3.41
SPUU	1.05	(0.04)	(0.01)	0.01	1.65	(0.95)	1.96	(2.39)	7.03

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