First Trust Correlations

FID Etf

USD 22.30 0.02 0.09%

The current 90-days correlation between First Trust Intl and Invesco DWA Emerging is 0.49 (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.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Intl and DJI is 0.84 (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 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

0.99	EFV	iShares MSCI EAFE	Pair Corr
0.99	FNDF	Schwab Fundamental	Pair Corr
0.99	VYMI	Vanguard International Sell-off Trend	Pair Corr
0.99	IDV	iShares International Sell-off Trend	Pair Corr
0.98	DFIV	Dimensional International	Pair Corr
0.98	IVLU	iShares Edge MSCI Sell-off Trend	Pair Corr
0.99	RODM	Hartford Multifactor	Pair Corr
0.99	PXF	Invesco FTSE RAFI	Pair Corr
0.98	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.97	PID	Invesco International	Pair Corr
0.94	OIH	VanEck Oil Services	Pair Corr
0.69	WTMF	WisdomTree Managed	Pair Corr
0.84	EWC	iShares MSCI Canada	Pair Corr
0.65	TOT	Advisor Managed Port	Pair Corr
0.61	BST	BlackRock Science Tech	Pair Corr
0.94	QLV	FlexShares Quality Low	Pair Corr
0.8	SIXJ	AIM ETF Products	Pair Corr
0.91	NBCE	Neuberger Berman ETF	Pair Corr
0.92	DOGG	First Trust Exchange	Pair Corr
0.84	PFF	iShares Preferred	Pair Corr
0.85	UMAY	Innovator ETFs Trust	Pair Corr
0.83	XYLD	Global X SP	Pair Corr
0.9	NCPB	Nuveen Core Plus	Pair Corr
0.8	JANW	AIM ETF Products	Pair Corr
0.8	XAUG	FT Cboe Vest	Pair Corr
0.95	REGL	ProShares SP MidCap	Pair Corr
0.97	CCNR	CoreCommodity Natural	Pair Corr
0.94	EMES	Harbor ETF Trust	Pair Corr
0.91	IQSZ	Invesco Actively Managed	Pair Corr
0.99	FNDC	Schwab Fundamental	Pair Corr
0.95	EURL	Direxion Daily FTSE	Pair Corr
0.95	WLDR	Affinity World Leaders	Pair Corr
0.96	PCEM	Litman Gregory Funds	Pair Corr
0.94	DFSD	Dimensional ETF Trust	Pair Corr

Moving against First Etf

0.76	ARKW	ARK Next Generation	Pair Corr
0.58	HUM	Humana Inc	Pair Corr

Related Correlations Analysis

	DEW	FAB	ECNS	FTXN	MBOX	EMXF	EWO	LEGR	TRTY	PIE
DEW		0.96	0.69	0.93	0.97	0.94	0.93	0.82	0.95	0.92	DEW
FAB	0.96		0.61	0.85	0.98	0.9	0.96	0.87	0.95	0.88	FAB
ECNS	0.69	0.61		0.76	0.75	0.81	0.56	0.64	0.74	0.85	ECNS
FTXN	0.93	0.85	0.76		0.89	0.88	0.78	0.66	0.85	0.88	FTXN
MBOX	0.97	0.98	0.75	0.89		0.95	0.94	0.89	0.98	0.94	MBOX
EMXF	0.94	0.9	0.81	0.88	0.95		0.91	0.91	0.97	0.96	EMXF
EWO	0.93	0.96	0.56	0.78	0.94	0.91		0.94	0.96	0.87	EWO
LEGR	0.82	0.87	0.64	0.66	0.89	0.91	0.94		0.92	0.84	LEGR
TRTY	0.95	0.95	0.74	0.85	0.98	0.97	0.96	0.92		0.95	TRTY
PIE	0.92	0.88	0.85	0.88	0.94	0.96	0.87	0.84	0.95		PIE
	DEW	FAB	ECNS	FTXN	MBOX	EMXF	EWO	LEGR	TRTY	PIE

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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
DEW	0.48	0.15	0.23	0.36	0.07	(0.55)	1.19	(0.79)	2.47
FAB	0.69	0.15	0.20	0.24	0.41	(0.83)	2.09	(1.10)	3.76
ECNS	0.73	0.01	(0.01)	0.08	0.92	(0.74)	1.89	(1.81)	4.20
FTXN	1.18	0.25	0.15	0.71	1.11	(1.25)	2.72	(2.01)	5.39
MBOX	0.58	0.08	0.10	0.17	0.50	(0.65)	1.19	(1.10)	3.69
EMXF	0.59	0.11	0.10	0.25	0.58	(0.61)	1.38	(1.19)	3.61
EWO	0.85	0.23	0.20	0.35	0.73	(0.96)	2.14	(1.64)	5.29
LEGR	0.62	0.02	0.01	0.09	0.76	(0.62)	1.18	(1.41)	3.48
TRTY	0.54	0.10	0.07	0.28	0.80	(0.55)	1.02	(1.01)	5.31
PIE	0.82	0.12	0.08	0.27	0.95	(0.86)	1.94	(1.51)	5.79

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