First Trust Correlations

FINT Etf

CAD 34.95 0.02 0.06%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust International moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Modest diversification

The correlation between First Trust International and DJI is 0.27 (i.e., Modest 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.

The ability to find closely correlated positions to First Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Trust when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Trust - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Trust International to buy it.

Moving together with First Etf

0.89	XEF	iShares Core MSCI	Pair Corr
0.9	ZEA	BMO MSCI EAFE	Pair Corr
0.91	VIU	Vanguard FTSE Developed	Pair Corr
0.85	XIN	iShares MSCI EAFE	Pair Corr
0.85	XFH	iShares Core MSCI	Pair Corr
0.86	ZDM	BMO MSCI EAFE	Pair Corr
0.73	WSRD	Wealthsimple Developed	Pair Corr
0.89	VDU	Vanguard FTSE Developed	Pair Corr
0.85	VEF	Vanguard FTSE Developed	Pair Corr
0.68	XIU	iShares SPTSX 60	Pair Corr
0.7	XIC	iShares Core SPTSX	Pair Corr
0.7	ZCN	BMO SPTSX Capped	Pair Corr
0.72	DRMC	Desjardins RI Canada	Pair Corr
0.68	ZUD	BMO Dividend Hedged	Pair Corr
0.86	XEC	iShares Core MSCI	Pair Corr
0.67	HDIV	Hamilton Enhanced Multi	Pair Corr
0.67	FSR	First Trust Morningstar	Pair Corr
0.69	GLDX	Global X Gold	Pair Corr
0.83	MUFG	MITSUBISHI UFJ FINANCIAL	Pair Corr
0.75	TGGR	TD Active Global	Pair Corr
0.73	PFAE	Picton Mahoney Fortified	Pair Corr
0.8	SBT	Silver Bullion Trust	Pair Corr
0.7	ZWS	BMO High Dividend	Pair Corr
0.83	PIN	Purpose Monthly Income	Pair Corr
0.64	XMM	iShares MSCI Min	Pair Corr
0.93	VA	Vanguard FTSE Developed	Pair Corr
0.78	UDIV-B	Manulife Smart Dividend	Pair Corr

Related Correlations Analysis

	FCUH	FHH	CNDI	BLOV	USSL	FDL	CNCL	RPDH	TUEX
FCUH		-0.03	0.33	-0.06	0.17	-0.23	-0.3	-0.32	0.21	FCUH
FHH	-0.03		-0.52	0.72	0.38	0.52	0.53	0.48	0.2	FHH
CNDI	0.33	-0.52		-0.71	-0.36	-0.92	-0.99	-0.94	-0.31	CNDI
BLOV	-0.06	0.72	-0.71		0.15	0.76	0.73	0.7	0.0	BLOV
USSL	0.17	0.38	-0.36	0.15		0.31	0.4	0.37	0.65	USSL
FDL	-0.23	0.52	-0.92	0.76	0.31		0.93	0.95	0.25	FDL
CNCL	-0.3	0.53	-0.99	0.73	0.4	0.93		0.95	0.3	CNCL
RPDH	-0.32	0.48	-0.94	0.7	0.37	0.95	0.95		0.27	RPDH
TUEX	0.21	0.2	-0.31	0.0	0.65	0.25	0.3	0.27		TUEX
	FCUH	FHH	CNDI	BLOV	USSL	FDL	CNCL	RPDH	TUEX

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

RPDH	+ 0.95	FDL
RPDH	+ 0.95	CNCL
CNCL	+ 0.93	FDL
FDL	+ 0.76	BLOV
CNCL	+ 0.73	BLOV
BLOV	+ 0.72	FHH

High negative correlations

CNCL	- 0.99	CNDI
RPDH	- 0.94	CNDI
FDL	- 0.92	CNDI
BLOV	- 0.71	CNDI
CNDI	- 0.52	FHH
USSL	- 0.36	CNDI

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
FCUH	0.50	(0.02)	(0.09)	0.00	0.67	(0.54)	1.02	(0.92)	3.67
FHH	0.69	0.03	(0.02)	0.18	0.69	(0.75)	1.93	(1.27)	4.72
CNDI	0.58	(0.09)	0.00	0.50	0.00	0.00	1.41	(1.08)	3.14
BLOV	0.33	0.06	(0.01)	1.57	0.31	(0.38)	0.81	(0.71)	2.48
USSL	0.39	(0.02)	(0.05)	0.02	0.52	(1.10)	1.17	(1.30)	4.41
FDL	0.58	0.09	0.06	0.40	0.52	(0.68)	1.55	(1.18)	3.09
CNCL	0.51	0.07	0.03	0.26	0.56	(0.58)	1.07	(1.21)	2.71
RPDH	0.42	0.13	0.15	0.57	0.10	(0.55)	1.37	(0.61)	3.18
TUEX	0.69	(0.02)	(0.03)	0.03	0.97	(0.87)	1.41	(2.19)	6.53

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Trust without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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