First Trust Correlations

FICS Etf

USD 40.33 0.10 0.25%

The current 90-days correlation between First Trust International and American Century ETF is 0.69 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust International and DJI is 0.64 (i.e., 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

0.66	EFG	iShares MSCI EAFE	Pair Corr
0.86	VIGI	Vanguard International	Pair Corr
0.85	IHDG	WisdomTree International	Pair Corr
0.74	GRIN	VictoryShares International	Pair Corr
0.69	CGXU	Capital Group Intern	Pair Corr
0.77	DNL	WisdomTree Global	Pair Corr
0.95	IQDG	WisdomTree International	Pair Corr
0.83	PIZ	Invesco DWA Developed	Pair Corr
0.9	IDHQ	Invesco SP International	Pair Corr
0.77	VTI	Vanguard Total Stock	Pair Corr
0.75	SPY	SPDR SP 500	Pair Corr
0.75	IVV	iShares Core SP	Pair Corr
0.77	TOT	Advisor Managed Port	Pair Corr
0.94	VTV	Vanguard Value Index	Pair Corr
0.77	VO	Vanguard Mid Cap	Pair Corr
0.92	INOV	Innovator ETFs Trust	Pair Corr
0.92	JEPI	JPMorgan Equity Premium	Pair Corr
0.73	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.67	XOM	Exxon Mobil Corp	Pair Corr
0.75	MRK	Merck Company Aggressive Push	Pair Corr
0.61	BA	Boeing	Pair Corr
0.61	DD	Dupont De Nemours	Pair Corr
0.92	AA	Alcoa Corp	Pair Corr
0.77	WMT	Walmart Common Stock	Pair Corr

Moving against First Etf

0.45	IRE	Tidal Trust II	Pair Corr
0.45	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	AVMC	FXZ	EFAA	DBAW	MFUS	SIO	FUNL	QVMS	IQSI	SPUU
AVMC		0.88	0.94	0.79	0.98	0.75	0.97	0.97	0.92	0.81	AVMC
FXZ	0.88		0.88	0.78	0.88	0.66	0.9	0.83	0.88	0.64	FXZ
EFAA	0.94	0.88		0.89	0.93	0.77	0.96	0.88	0.95	0.8	EFAA
DBAW	0.79	0.78	0.89		0.78	0.68	0.83	0.71	0.81	0.75	DBAW
MFUS	0.98	0.88	0.93	0.78		0.76	0.95	0.96	0.94	0.85	MFUS
SIO	0.75	0.66	0.77	0.68	0.76		0.8	0.72	0.73	0.62	SIO
FUNL	0.97	0.9	0.96	0.83	0.95	0.8		0.93	0.92	0.76	FUNL
QVMS	0.97	0.83	0.88	0.71	0.96	0.72	0.93		0.87	0.79	QVMS
IQSI	0.92	0.88	0.95	0.81	0.94	0.73	0.92	0.87		0.79	IQSI
SPUU	0.81	0.64	0.8	0.75	0.85	0.62	0.76	0.79	0.79		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	0.74	(0.01)	0.00	0.08	0.89	(0.75)	1.49	(1.40)	3.26
FXZ	1.19	0.12	0.05	0.42	1.21	(1.31)	2.68	(2.51)	5.85
EFAA	0.44	0.02	(0.02)	0.12	0.48	(0.46)	0.92	(0.80)	2.80
DBAW	0.53	0.09	0.02	0.82	0.70	(0.56)	1.07	(1.16)	3.09
MFUS	0.56	(0.01)	(0.03)	0.07	0.67	(0.57)	1.08	(1.14)	2.72
SIO	0.18	0.01	(0.24)	0.14	0.17	(0.23)	0.39	(0.35)	1.96
FUNL	0.63	0.01	0.00	0.10	0.68	(0.69)	1.21	(1.32)	3.89
QVMS	0.87	0.00	0.01	0.08	0.99	(0.95)	1.98	(1.57)	4.33
IQSI	0.57	0.01	(0.02)	0.10	0.64	(0.62)	1.07	(1.21)	2.76
SPUU	1.18	(0.05)	0.01	0.06	1.74	(1.13)	2.38	(2.39)	6.63

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