First Trust Correlations

FID Etf

USD 20.76 0.11 0.53%

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.

First Trust Correlation With Market

Modest diversification

The correlation between First Trust Intl and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Intl 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 Intl. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

0.97	EFV	iShares MSCI EAFE Sell-off Trend	Pair Corr
0.94	FNDF	Schwab Fundamental Sell-off Trend	Pair Corr
0.71	DOO	BRP Inc Symbol Change	Pair Corr
0.98	VYMI	Vanguard International	Pair Corr
0.96	IDV	iShares International	Pair Corr
0.97	DFIV	Dimensional International Sell-off Trend	Pair Corr
0.97	IVLU	iShares Edge MSCI Sell-off Trend	Pair Corr
0.95	RODM	Hartford Multifactor	Pair Corr
0.94	PXF	Invesco FTSE RAFI	Pair Corr
0.95	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.81	INR	Infinity Natural Res	Pair Corr
0.71	TOT	Advisor Managed Port	Pair Corr
0.92	FB	ProShares Trust ProShares	Pair Corr
0.77	CA	Xtrackers California	Pair Corr
0.92	JAVA	JPMorgan Active Value	Pair Corr
0.87	CAM	AB Active ETFs	Pair Corr
0.81	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.63	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.75	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.63	CSCO	Cisco Systems	Pair Corr
0.85	DD	Dupont De Nemours	Pair Corr
0.64	AXP	American Express	Pair Corr
0.93	MRK	Merck Company Sell-off Trend	Pair Corr
0.91	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.79	BAC	Bank of America	Pair Corr

Moving against First Etf

0.86	NFLX	Netflix Earnings Call This Week	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.66	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.6	T	ATT Inc	Pair Corr
0.44	HD	Home Depot	Pair Corr

Related Correlations Analysis

	DEW	FAB	ECNS	FTXN	MBOX	EMXF	EWO	LEGR	TRTY	PIE
DEW		0.97	-0.38	0.7	0.88	0.71	0.95	0.85	0.93	0.74	DEW
FAB	0.97		-0.35	0.65	0.89	0.69	0.94	0.85	0.91	0.73	FAB
ECNS	-0.38	-0.35		-0.29	-0.1	0.09	-0.48	-0.07	-0.21	0.08	ECNS
FTXN	0.7	0.65	-0.29		0.57	0.49	0.64	0.5	0.61	0.55	FTXN
MBOX	0.88	0.89	-0.1	0.57		0.75	0.83	0.87	0.95	0.78	MBOX
EMXF	0.71	0.69	0.09	0.49	0.75		0.68	0.93	0.82	0.85	EMXF
EWO	0.95	0.94	-0.48	0.64	0.83	0.68		0.84	0.91	0.71	EWO
LEGR	0.85	0.85	-0.07	0.5	0.87	0.93	0.84		0.92	0.84	LEGR
TRTY	0.93	0.91	-0.21	0.61	0.95	0.82	0.91	0.92		0.81	TRTY
PIE	0.74	0.73	0.08	0.55	0.78	0.85	0.71	0.84	0.81		PIE
	DEW	FAB	ECNS	FTXN	MBOX	EMXF	EWO	LEGR	TRTY	PIE

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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

FAB	+ 0.97	DEW
EWO	+ 0.95	DEW
TRTY	+ 0.95	MBOX
EWO	+ 0.94	FAB
TRTY	+ 0.93	DEW
LEGR	+ 0.93	EMXF

High negative correlations

EWO	- 0.48	ECNS
ECNS	- 0.38	DEW
ECNS	- 0.35	FAB
FTXN	- 0.29	ECNS
TRTY	- 0.21	ECNS
MBOX	- 0.1	ECNS

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
DEW	0.43	0.06	0.03	0.22	0.27	(0.49)	1.02	(0.79)	2.28
FAB	0.65	0.06	0.07	0.17	0.53	(0.77)	1.79	(1.10)	3.66
ECNS	0.78	(0.09)	0.00	(0.07)	0.00	0.00	1.89	(2.09)	4.20
FTXN	1.05	0.10	0.02	0.52	1.17	(1.09)	2.12	(1.79)	5.39
MBOX	0.56	0.08	0.00	0.48	0.48	(0.62)	1.12	(0.95)	2.96
EMXF	0.58	0.07	0.04	0.22	0.57	(0.59)	1.38	(1.19)	2.92
EWO	0.65	0.16	0.14	0.33	0.51	(0.72)	1.35	(1.26)	4.59
LEGR	0.54	0.05	0.04	0.17	0.57	(0.58)	1.09	(1.35)	2.88
TRTY	0.43	0.10	0.02	0.77	0.30	(0.46)	1.01	(0.85)	2.59
PIE	0.80	0.04	0.01	0.15	0.89	(0.87)	1.63	(1.81)	5.29

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