First Trust Correlations

FIXD Etf

USD 44.25 0.05 0.11%

The current 90-days correlation between First Trust TCW and iShares MSCI All is 0.14 (i.e., Average 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

Poor diversification

The correlation between First Trust TCW and DJI is 0.66 (i.e., Poor 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.

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 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 housing.

Moving together with First Etf

0.75	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.67	FBND	Fidelity Total Bond Sell-off Trend	Pair Corr
0.89	TOTL	SPDR DoubleLine Total	Pair Corr
0.65	BNDS	Series Portfolios Trust	Pair Corr
0.69	HTRB	Hartford Total Return	Pair Corr
0.89	GTO	Invesco Total Return	Pair Corr
0.73	EUSB	iShares Trust	Pair Corr
0.93	JCPB	JPMorgan Core Plus	Pair Corr
0.69	CPST	Calamos ETF Trust	Pair Corr
0.67	ITDD	iShares Trust	Pair Corr
0.73	DMAY	First Trust Exchange	Pair Corr
0.7	FNX	First Trust Mid	Pair Corr
0.64	TAXT	Northern Trust Tax	Pair Corr
0.67	DISV	Dimensional ETF Trust	Pair Corr
0.73	HLAL	Wahed FTSE USA	Pair Corr
0.76	FLXR	TCW ETF Trust	Pair Corr
0.75	FDRR	Fidelity Dividend ETF	Pair Corr

Moving against First Etf

0.51

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	EAGL	CGDG	EWC	EMLP	GRID	IMTM	LVHI	HELO	USCA	AAXJ
EAGL		0.87	0.85	0.33	0.6	0.88	0.76	0.85	0.75	0.7	EAGL
CGDG	0.87		0.93	0.62	0.65	0.95	0.92	0.9	0.53	0.79	CGDG
EWC	0.85	0.93		0.56	0.52	0.92	0.94	0.91	0.5	0.64	EWC
EMLP	0.33	0.62	0.56		0.39	0.61	0.69	0.37	0.0	0.59	EMLP
GRID	0.6	0.65	0.52	0.39		0.68	0.42	0.6	0.54	0.86	GRID
IMTM	0.88	0.95	0.92	0.61	0.68		0.92	0.84	0.52	0.83	IMTM
LVHI	0.76	0.92	0.94	0.69	0.42	0.92		0.8	0.31	0.65	LVHI
HELO	0.85	0.9	0.91	0.37	0.6	0.84	0.8		0.7	0.62	HELO
USCA	0.75	0.53	0.5	0.0	0.54	0.52	0.31	0.7		0.4	USCA
AAXJ	0.7	0.79	0.64	0.59	0.86	0.83	0.65	0.62	0.4		AAXJ
	EAGL	CGDG	EWC	EMLP	GRID	IMTM	LVHI	HELO	USCA	AAXJ

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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

IMTM	+ 0.95	CGDG
LVHI	+ 0.94	EWC
EWC	+ 0.93	CGDG
LVHI	+ 0.92	CGDG
IMTM	+ 0.92	EWC
LVHI	+ 0.92	IMTM

High negative correlations

USCA

- 0.0

EMLP

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
EAGL	0.66	(0.03)	(0.04)	0.02	0.80	(0.68)	1.29	(1.49)	3.96
CGDG	0.52	0.06	0.03	0.71	0.54	(0.57)	0.90	(0.99)	3.15
EWC	0.64	0.16	0.13	1.23	0.67	(0.67)	1.24	(1.30)	3.72
EMLP	0.47	0.08	0.05	(1.86)	0.42	(0.48)	0.92	(0.87)	2.04
GRID	0.77	0.00	0.03	0.00	1.07	(0.71)	1.69	(1.92)	4.11
IMTM	0.58	0.14	0.16	0.25	0.46	(0.63)	1.48	(1.05)	2.80
LVHI	0.40	0.13	0.16	2.04	0.13	(0.48)	1.07	(0.61)	2.85
HELO	0.32	0.03	(0.03)	0.69	0.44	(0.32)	0.78	(0.79)	2.59
USCA	0.58	(0.04)	(0.06)	0.00	0.85	(0.54)	1.00	(1.38)	3.89
AAXJ	0.70	0.14	0.13	0.67	0.60	(0.83)	1.41	(1.34)	4.33

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