First Trust Correlations

Summary

FIFDelisted Fund

USD 15.64 0.11 0.71%

The current 90-days correlation between First Trust Energy and IHIT is 0.01 (i.e., Significant 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

Significant diversification

The correlation between First Trust Energy and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Fund

0.64	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr
0.65	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.65	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.66	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.65	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.66	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.63	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.67	KINCX	Kinetics Internet	Pair Corr
0.64	KSOCX	Kinetics Small Cap Steady Growth	Pair Corr
0.72	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.67	CVX	Chevron Corp Sell-off Trend	Pair Corr

Moving against First Fund

0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.5	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.45	KO	Coca Cola Sell-off Trend	Pair Corr

Related Correlations Analysis

	FEI	IHIT	IGD	CII	FPF	FEN	FTF	FOCS	FDEU
FEI		-0.01	0.43	0.59	-0.17	0.89	-0.11	0.44	0.77	FEI
IHIT	-0.01		0.08	-0.45	-0.56	-0.11	-0.12	-0.41	0.21	IHIT
IGD	0.43	0.08		0.51	0.35	0.28	0.46	-0.04	0.39	IGD
CII	0.59	-0.45	0.51		0.36	0.57	0.18	0.66	0.21	CII
FPF	-0.17	-0.56	0.35	0.36		-0.25	0.65	-0.07	-0.38	FPF
FEN	0.89	-0.11	0.28	0.57	-0.25		-0.17	0.54	0.68	FEN
FTF	-0.11	-0.12	0.46	0.18	0.65	-0.17		-0.48	-0.16	FTF
FOCS	0.44	-0.41	-0.04	0.66	-0.07	0.54	-0.48		0.15	FOCS
FDEU	0.77	0.21	0.39	0.21	-0.38	0.68	-0.16	0.15		FDEU
	FEI	IHIT	IGD	CII	FPF	FEN	FTF	FOCS	FDEU

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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

FEN	+ 0.89	FEI
FDEU	+ 0.77	FEI
FDEU	+ 0.68	FEN
FOCS	+ 0.66	CII
FTF	+ 0.65	FPF
CII	+ 0.59	FEI

High negative correlations

FPF	- 0.56	IHIT
FOCS	- 0.48	FTF
CII	- 0.45	IHIT
FOCS	- 0.41	IHIT
FDEU	- 0.38	FPF
FEN	- 0.25	FPF

Risk-Adjusted Indicators

There is a big difference between First Fund performing well and First Trust Fund 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
FEI	0.96	0.08	(0.02)	1.60	1.13	(1.03)	1.91	(1.87)	6.15
IHIT	0.46	(0.05)	0.00	(0.73)	0.00	0.00	1.07	(1.18)	2.70
IGD	0.68	(0.05)	(0.09)	0.03	0.94	(0.65)	1.28	(1.44)	4.35
CII	0.45	(0.01)	(0.10)	0.09	0.56	(0.42)	1.12	(0.97)	2.54
FPF	0.37	0.00	(0.16)	0.13	0.51	(0.37)	0.78	(0.78)	2.53
FEN	1.04	0.17	0.04	(36.16)	0.99	(1.18)	2.42	(1.58)	8.06
FTF	0.33	(0.02)	(0.23)	0.02	0.39	(0.39)	0.62	(0.62)	1.82
FOCS	0.09	0.00	(1.10)	0.45	0.07	(0.10)	0.21	(0.17)	0.56
FDEU	0.69	0.06	(0.04)	0.62	0.69	(0.76)	1.64	(1.27)	3.56

View First Trust Related Equities

First Trust Mlp IHIT Voya Global Equity Blackrock Enhanced Capital First Trust Intermediate First Trust Energy Franklin Templeton Limited Focus Financial Partners First Trust Dynamic New Germany Closed Eagle Point Income Western Asset High Nuveen New York DTF Tax Free MFS Investment Grade

Risk & Return

Correlation

Still Interested in First Trust Energy?

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