First Trust Correlations

FIXD Etf

USD 43.26 0.18 0.41%

The current 90-days correlation between First Trust TCW and iShares Core Total is 0.97 (i.e., Almost no 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

Good diversification

The correlation between First Trust TCW and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust TCW and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust TCW. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with First Etf

1.0	IUSB	iShares Core Total Sell-off Trend	Pair Corr
1.0	FBND	Fidelity Total Bond Sell-off Trend	Pair Corr
0.99	TOTL	SPDR DoubleLine Total	Pair Corr
1.0	HTRB	Hartford Total Return	Pair Corr
0.99	GTO	Invesco Total Return	Pair Corr
0.99	EUSB	iShares Trust	Pair Corr
1.0	JCPB	JPMorgan Core Plus	Pair Corr
0.99	VBND	Vident Core Bond	Pair Corr
0.99	CGCP	Capital Group Core	Pair Corr
0.74	PG	Procter Gamble	Pair Corr
0.73	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.71	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.89	KO	Coca Cola Aggressive Push	Pair Corr
0.9	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against First Etf

0.88	NVDU	Direxion Daily NVDA	Pair Corr
0.87	NVDL	GraniteShares 15x Long	Pair Corr
0.87	NVDX	T Rex 2X	Pair Corr
0.83	CRPT	First Trust SkyBridge	Pair Corr
0.83	STCE	Schwab Strategic Trust	Pair Corr
0.82	DAPP	VanEck Digital Trans	Pair Corr
0.82	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.82	BITQ	Bitwise Crypto Industry Downward Rally	Pair Corr
0.75	BITX	Volatility Shares Trust Trending	Pair Corr
0.72	CONL	GraniteShares ETF Trust Trending	Pair Corr
0.83	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.83	CSCO	Cisco Systems	Pair Corr
0.72	SPY	SPDR SP 500	Pair Corr
0.68	DIS	Walt Disney Aggressive Push	Pair Corr
0.67	PPA	Invesco Aerospace Defense	Pair Corr
0.64	WMT	Walmart Aggressive Push	Pair Corr
0.59	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.53	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.4	HD	Home Depot	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.58	-0.01	0.64	0.02	0.73	0.31	-0.58	0.74	META
MSFT	0.27		0.22	0.12	0.18	-0.03	0.04	-0.16	0.1	-0.18	MSFT
UBER	0.58	0.22		0.0	0.09	0.23	0.12	-0.03	-0.01	0.42	UBER
F	-0.01	0.12	0.0		-0.03	-0.36	0.33	0.61	-0.22	0.27	F
T	0.64	0.18	0.09	-0.03		-0.44	0.7	0.43	-0.73	0.38	T
A	0.02	-0.03	0.23	-0.36	-0.44		-0.45	-0.64	0.62	0.02	A
CRM	0.73	0.04	0.12	0.33	0.7	-0.45		0.8	-0.92	0.67	CRM
JPM	0.31	-0.16	-0.03	0.61	0.43	-0.64	0.8		-0.82	0.48	JPM
MRK	-0.58	0.1	-0.01	-0.22	-0.73	0.62	-0.92	-0.82		-0.55	MRK
XOM	0.74	-0.18	0.42	0.27	0.38	0.02	0.67	0.48	-0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.8	CRM
XOM	+ 0.74	META
CRM	+ 0.73	META
CRM	+ 0.7	T
XOM	+ 0.67	CRM
T	+ 0.64	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.82	JPM
MRK	- 0.73	T
JPM	- 0.64	A
MRK	- 0.58	META
XOM	- 0.55	MRK

First Trust Competition 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
META	1.07	0.05	0.02	0.16	1.41	(1.15)	2.62	(3.15)	8.02
MSFT	0.89	(0.10)	0.00	(0.05)	0.00	0.00	2.08	(2.03)	8.19
UBER	1.56	(0.15)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
F	1.40	(0.09)	(0.02)	0.02	2.20	(1.37)	2.53	(2.90)	11.72
T	0.91	0.26	0.16	(47.59)	0.84	(1.03)	2.56	(1.72)	6.47
A	1.09	(0.16)	0.00	(0.27)	0.00	0.00	2.11	(2.42)	9.02
CRM	1.25	0.24	0.20	0.30	0.94	(1.47)	3.18	(1.91)	9.09
JPM	1.09	0.03	0.06	0.10	1.43	(1.11)	2.05	(2.00)	15.87
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
XOM	1.03	0.04	0.00	0.15	1.22	(1.09)	2.14	(2.09)	5.78

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