First Trust Correlations

FICS Etf

USD 35.20 0.11 0.31%

The current 90-days correlation between First Trust International and Freedom Day Dividend is 0.46 (i.e., Very weak 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

Weak diversification

The correlation between First Trust International and DJI is 0.38 (i.e., Weak 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.

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 main economic indicators.

Moving together with First Etf

0.93	EFG	iShares MSCI EAFE	Pair Corr
0.97	VIGI	Vanguard International	Pair Corr
0.81	IHDG	WisdomTree International	Pair Corr
0.86	IMTM	iShares MSCI Intl	Pair Corr
0.85	CGXU	Capital Group Intern	Pair Corr
0.91	DNL	WisdomTree Global	Pair Corr
0.91	IQDG	WisdomTree International	Pair Corr
0.93	IDHQ	Invesco SP International	Pair Corr
0.79	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against First Etf

0.76	MSTY	YieldMax MSTR Option	Pair Corr
0.75	BTC	Grayscale Bitcoin Mini	Pair Corr
0.67	QTOC	Innovator ETFs Trust	Pair Corr
0.65	TSJA	TSJA	Pair Corr
0.63	XTOC	Innovator ETFs Trust	Pair Corr
0.63	DSJA	DSJA	Pair Corr
0.51	XTJA	Innovator ETFs Trust	Pair Corr
0.51	XDJA	Innovator ETFs Trust	Pair Corr
0.47	XTAP	Innovator Equity Acc	Pair Corr
0.45	QTJA	Innovator ETFs Trust	Pair Corr
0.45	QTAP	Innovator Growth 100	Pair Corr
0.45	DIVG	Invesco Exchange Traded	Pair Corr
0.39	UPRO	ProShares UltraPro SP500	Pair Corr
0.8	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.67	DIS	Walt Disney Aggressive Push	Pair Corr
0.66	DISO	Tidal Trust II	Pair Corr
0.55	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.47	T	ATT Inc Sell-off Trend	Pair Corr
0.43	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.42	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.39	DIVB	iShares Dividend	Pair Corr
0.33	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	MBOX	DINT	MCHI	DIVS	DIVZ	FM	PY	VT	XC
MBOX		0.42	0.38	0.38	0.74	0.44	0.82	0.82	0.08	MBOX
DINT	0.42		0.98	0.61	0.63	0.24	0.69	0.8	0.11	DINT
MCHI	0.38	0.98		0.57	0.54	0.22	0.62	0.73	0.12	MCHI
DIVS	0.38	0.61	0.57		0.34	-0.12	0.36	0.62	0.74	DIVS
DIVZ	0.74	0.63	0.54	0.34		0.4	0.96	0.85	-0.22	DIVZ
FM	0.44	0.24	0.22	-0.12	0.4		0.47	0.44	-0.2	FM
PY	0.82	0.69	0.62	0.36	0.96	0.47		0.92	-0.2	PY
VT	0.82	0.8	0.73	0.62	0.85	0.44	0.92		0.15	VT
XC	0.08	0.11	0.12	0.74	-0.22	-0.2	-0.2	0.15		XC
	MBOX	DINT	MCHI	DIVS	DIVZ	FM	PY	VT	XC

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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

MCHI	+ 0.98	DINT
PY	+ 0.96	DIVZ
VT	+ 0.92	PY
VT	+ 0.85	DIVZ
PY	+ 0.82	MBOX
VT	+ 0.82	MBOX

High negative correlations

XC	- 0.22	DIVZ
XC	- 0.2	PY
XC	- 0.2	FM
FM	- 0.12	DIVS

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
MBOX	0.61	(0.04)	(0.07)	0.08	0.61	(0.73)	1.51	(1.29)	3.59
DINT	1.25	0.12	0.03	0.35	1.70	(1.27)	3.13	(2.15)	10.90
MCHI	1.94	0.16	0.02	0.87	2.58	(2.12)	5.40	(3.25)	19.77
DIVS	0.48	(0.05)	(0.17)	0.02	0.57	(0.51)	1.07	(1.10)	2.41
DIVZ	0.47	0.03	(0.03)	0.18	0.23	(0.59)	1.12	(0.68)	2.35
FM	0.15	0.00	(0.57)	0.13	0.18	(0.16)	0.29	(0.32)	0.80
PY	0.56	0.02	0.01	0.14	0.40	(0.67)	1.20	(0.96)	3.91
VT	0.56	(0.03)	(0.08)	0.08	0.65	(0.61)	1.24	(1.03)	3.42
XC	0.70	(0.10)	0.00	(0.08)	0.00	0.00	1.69	(1.25)	4.20

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