First Trust Correlations

FICS Etf

USD 41.96 0.28 0.67%

The current 90-days correlation between First Trust International and Direxion Daily SP is 0.58 (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

Almost no diversification

The correlation between First Trust International and DJI is 0.93 (i.e., Almost no 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 services.

Moving together with First Etf

0.93	EFG	iShares MSCI EAFE	Pair Corr
0.97	VIGI	Vanguard International	Pair Corr
0.94	IHDG	WisdomTree International	Pair Corr
0.88	GRIN	VictoryShares International	Pair Corr
0.93	CGXU	Capital Group Intern	Pair Corr
0.89	DNL	WisdomTree Global	Pair Corr
0.9	FPXI	First Trust International	Pair Corr
0.97	IQDG	WisdomTree International	Pair Corr
0.94	PIZ	Invesco DWA Developed	Pair Corr
0.95	IDHQ	Invesco SP International	Pair Corr
0.93	WSML	iShares MSCI World	Pair Corr
0.62	BITI	ProShares Trust	Pair Corr
0.96	PULS	PGIM Ultra Short	Pair Corr
0.95	CPSR	Calamos SP 500	Pair Corr
0.95	FNDC	Schwab Fundamental	Pair Corr
0.93	FIDU	Fidelity MSCI Industrials	Pair Corr
0.95	XTWO	Bondbloxx ETF Trust	Pair Corr
0.94	UMAY	Innovator ETFs Trust	Pair Corr
0.91	EWT	iShares MSCI Taiwan	Pair Corr
0.64	LITP	Sprott Lithium Miners	Pair Corr
0.79	HCOW	Amplify Cash Flow	Pair Corr
0.94	TAXT	Northern Trust Tax	Pair Corr
0.73	SFLO	VictoryShares Small Cap	Pair Corr
0.82	LSEQ	Harbor ETF Trust	Pair Corr
0.77	VTHR	Vanguard Russell 3000	Pair Corr
0.93	TOCT	Innovator Equity Defined	Pair Corr
0.93	BSMS	Invesco BulletShares 2028	Pair Corr
0.81	CTEX	ProShares SP Kensho	Pair Corr
0.83	IBBQ	Invesco Nasdaq Biote	Pair Corr
0.89	TLCI	Touchstone ETF Trust	Pair Corr
0.86	EMES	Harbor ETF Trust	Pair Corr
0.92	PFFA	Virtus InfraCap Preferred	Pair Corr
0.97	JPIE	JP Morgan Exchange	Pair Corr

Moving against First Etf

0.92	JEM	707 Cayman Holdings	Pair Corr
0.47	SWIN	Alps Symbol Change	Pair Corr
0.77	MPAY	Exchange Traded Concepts	Pair Corr

Related Correlations Analysis

	AVMC	FXZ	EFAA	DBAW	MFUS	SIO	FUNL	QVMS	IQSI	SPUU
AVMC		0.97	0.97	0.97	0.98	0.9	0.99	0.96	0.93	0.68	AVMC
FXZ	0.97		0.98	0.98	0.97	0.9	0.97	0.95	0.96	0.59	FXZ
EFAA	0.97	0.98		0.98	0.98	0.92	0.98	0.95	0.98	0.63	EFAA
DBAW	0.97	0.98	0.98		0.97	0.92	0.96	0.92	0.97	0.59	DBAW
MFUS	0.98	0.97	0.98	0.97		0.92	0.97	0.95	0.96	0.62	MFUS
SIO	0.9	0.9	0.92	0.92	0.92		0.9	0.85	0.91	0.51	SIO
FUNL	0.99	0.97	0.98	0.96	0.97	0.9		0.94	0.94	0.68	FUNL
QVMS	0.96	0.95	0.95	0.92	0.95	0.85	0.94		0.93	0.63	QVMS
IQSI	0.93	0.96	0.98	0.97	0.96	0.91	0.94	0.93		0.52	IQSI
SPUU	0.68	0.59	0.63	0.59	0.62	0.51	0.68	0.63	0.52		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	0.66	0.09	0.11	0.16	0.54	(0.71)	1.73	(1.40)	4.22
FXZ	1.15	0.29	0.21	0.28	1.15	(1.26)	2.71	(2.51)	6.67
EFAA	0.42	0.09	0.10	0.25	0.32	(0.47)	0.95	(0.77)	2.11
DBAW	0.49	0.11	0.11	0.23	0.42	(0.53)	1.10	(0.94)	3.12
MFUS	0.52	0.08	0.10	0.17	0.43	(0.59)	1.11	(1.14)	3.60
SIO	0.17	0.02	(0.16)	0.26	0.15	(0.20)	0.35	(0.38)	1.96
FUNL	0.60	0.07	0.08	0.16	0.56	(0.74)	1.39	(1.34)	3.89
QVMS	0.81	0.16	0.12	1.42	0.63	(1.03)	2.54	(1.57)	5.01
IQSI	0.60	0.16	0.11	(1.47)	0.53	(0.69)	1.25	(1.21)	3.41
SPUU	1.09	(0.05)	(0.01)	0.04	1.49	(1.10)	1.96	(2.48)	7.24

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