First Trust Correlations

FJP Etf

USD 81.94 0.61 0.75%

The current 90-days correlation between First Trust Japan and Invesco DB Precious is 0.16 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Japan and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Japan 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 Japan. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with First Etf

0.98	EWJ	iShares MSCI Japan Sell-off Trend	Pair Corr
0.98	BBJP	JPMorgan BetaBuilders Sell-off Trend	Pair Corr
0.97	DXJ	WisdomTree Japan Hedged	Pair Corr
0.99	FLJP	Franklin FTSE Japan	Pair Corr
0.96	HEWJ	iShares Currency Hedged	Pair Corr
0.96	DBJP	Xtrackers MSCI Japan	Pair Corr
0.98	DFJ	WisdomTree Japan SmallCap	Pair Corr
0.98	EWJV	iShares MSCI Japan	Pair Corr
0.99	SCJ	iShares MSCI Japan	Pair Corr
0.99	JPXN	iShares JPX Nikkei	Pair Corr
0.7	DHF	BNY Mellon High	Pair Corr
0.89	ARP	Advisors Inner Circle	Pair Corr
0.84	PXMV	Invesco SP MidCap	Pair Corr
0.92	IGA	Voya Global Advantage	Pair Corr
0.95	RHRX	Starboard Investment	Pair Corr
0.89	FNK	First Trust Mid	Pair Corr
0.76	NAPR	Innovator Nasdaq 100	Pair Corr
0.96	VYMI	Vanguard International	Pair Corr
0.84	LALT	Invesco Multi Strategy	Pair Corr
0.66	URA	Global X Uranium	Pair Corr
0.8	AUMI	Themes Gold Miners	Pair Corr
0.89	HEEM	iShares Currency Hedged	Pair Corr
0.63	DOO	BRP Inc Symbol Change	Pair Corr
0.83	EAFG	Pacer Funds Trust	Pair Corr
0.81	ETHO	Amplify Etho Climate	Pair Corr
0.67	GPGCX	Grandeur Peak Global	Pair Corr
0.72	DIA	SPDR Dow Jones	Pair Corr
0.95	TAXT	Northern Trust Tax	Pair Corr
0.86	LQIG	SPDR MarketAxess Inv	Pair Corr
0.93	DISV	Dimensional ETF Trust	Pair Corr
0.94	DFIC	Dimensional International	Pair Corr
0.83	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.94	JEPI	JPMorgan Equity Premium	Pair Corr

Moving against First Etf

0.81	MAGS	Roundhill Magnificent	Pair Corr
0.52	ENTR	EntrepreneurShares	Pair Corr
0.44	PLT	Defiance Leveraged Long	Pair Corr

Related Correlations Analysis

	FNK	FXZ	FDM	FEMS	FYT	QVMS	SIXL	GVLU	AVXC	DBP
FNK		0.97	0.96	0.91	0.99	0.99	0.9	0.99	0.93	0.81	FNK
FXZ	0.97		0.91	0.96	0.96	0.96	0.92	0.98	0.97	0.89	FXZ
FDM	0.96	0.91		0.84	0.96	0.96	0.86	0.94	0.86	0.76	FDM
FEMS	0.91	0.96	0.84		0.92	0.91	0.92	0.93	0.98	0.88	FEMS
FYT	0.99	0.96	0.96	0.92		0.98	0.92	0.98	0.94	0.78	FYT
QVMS	0.99	0.96	0.96	0.91	0.98		0.89	0.98	0.91	0.81	QVMS
SIXL	0.9	0.92	0.86	0.92	0.92	0.89		0.9	0.93	0.73	SIXL
GVLU	0.99	0.98	0.94	0.93	0.98	0.98	0.9		0.94	0.84	GVLU
AVXC	0.93	0.97	0.86	0.98	0.94	0.91	0.93	0.94		0.86	AVXC
DBP	0.81	0.89	0.76	0.88	0.78	0.81	0.73	0.84	0.86		DBP
	FNK	FXZ	FDM	FEMS	FYT	QVMS	SIXL	GVLU	AVXC	DBP

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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
FNK	0.70	0.10	0.14	0.19	0.48	(0.92)	2.17	(1.20)	4.35
FXZ	1.06	0.35	0.26	0.38	0.91	(1.24)	2.71	(1.66)	6.67
FDM	0.87	0.10	0.10	0.17	0.85	(1.00)	2.35	(1.75)	5.73
FEMS	0.62	0.20	0.22	0.49	0.29	(0.73)	1.59	(0.99)	3.62
FYT	0.83	0.15	0.15	0.21	0.65	(0.93)	2.45	(1.37)	5.63
QVMS	0.77	0.08	0.11	0.15	0.59	(0.96)	2.11	(1.36)	4.79
SIXL	0.43	0.09	0.06	0.39	0.38	(0.48)	0.98	(0.69)	3.15
GVLU	0.65	0.11	0.15	0.21	0.40	(0.75)	1.77	(0.88)	3.68
AVXC	0.70	0.29	0.36	0.54	0.13	(0.87)	1.92	(0.90)	3.74
DBP	1.97	0.49	0.10	0.82	3.43	(1.90)	3.70	(5.14)	19.05

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