First Trust Correlations

FJP Etf

USD 67.43 0.25 0.37%

The current 90-days correlation between First Trust Japan and First Trust Mid is 0.58 (i.e., Very weak 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

Significant diversification

The correlation between First Trust Japan and DJI is 0.06 (i.e., Significant 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

0.73	EWJ	iShares MSCI Japan	Pair Corr
0.77	BBJP	JPMorgan BetaBuilders	Pair Corr
0.95	DXJ	WisdomTree Japan Hedged	Pair Corr
0.76	FLJP	Franklin FTSE Japan	Pair Corr
0.92	HEWJ	iShares Currency Hedged	Pair Corr
0.87	DBJP	Xtrackers MSCI Japan	Pair Corr
0.76	DFJ	WisdomTree Japan SmallCap	Pair Corr
0.94	EWJV	iShares MSCI Japan	Pair Corr
0.83	SCJ	iShares MSCI Japan	Pair Corr
0.75	JPXN	iShares JPX Nikkei	Pair Corr
0.78	CAT	Caterpillar	Pair Corr
0.76	AA	Alcoa Corp	Pair Corr
0.7	IBM	International Business	Pair Corr
0.79	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.66	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.67	TRV	The Travelers Companies	Pair Corr
0.86	BAC	Bank of America	Pair Corr
0.77	MRK	Merck Company	Pair Corr
0.85	AXP	American Express	Pair Corr

Moving against First Etf

0.78	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.71	DAPP	VanEck Digital Trans	Pair Corr
0.62	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.56	FBL	GraniteShares 15x Long	Pair Corr
0.34	NVDL	GraniteShares 15x Long	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.65	T	ATT Inc	Pair Corr
0.64	MSFT	Microsoft Sell-off Trend	Pair Corr
0.63	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FNK	FXZ	FDM	FEMS	FYT	QVMS	SIXL	GVLU	AVXC	DBP
FNK		0.9	0.8	0.58	0.97	0.85	0.62	0.91	0.43	0.68	FNK
FXZ	0.9		0.83	0.53	0.87	0.87	0.67	0.95	0.51	0.78	FXZ
FDM	0.8	0.83		0.26	0.87	0.89	0.64	0.93	0.57	0.79	FDM
FEMS	0.58	0.53	0.26		0.52	0.46	0.24	0.48	0.02	0.04	FEMS
FYT	0.97	0.87	0.87	0.52		0.88	0.58	0.92	0.51	0.68	FYT
QVMS	0.85	0.87	0.89	0.46	0.88		0.63	0.94	0.48	0.67	QVMS
SIXL	0.62	0.67	0.64	0.24	0.58	0.63		0.74	0.12	0.6	SIXL
GVLU	0.91	0.95	0.93	0.48	0.92	0.94	0.74		0.5	0.78	GVLU
AVXC	0.43	0.51	0.57	0.02	0.51	0.48	0.12	0.5		0.68	AVXC
DBP	0.68	0.78	0.79	0.04	0.68	0.67	0.6	0.78	0.68		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	0.01	(0.05)	0.09	0.85	(0.81)	1.50	(1.35)	3.70
FXZ	1.13	0.04	0.05	0.10	1.20	(1.21)	2.52	(2.51)	5.85
FDM	0.89	0.01	0.02	0.09	0.93	(1.05)	2.35	(1.16)	5.50
FEMS	0.65	(0.07)	0.00	(0.05)	0.00	0.00	1.33	(1.53)	3.56
FYT	0.82	0.01	(0.03)	0.10	1.04	(0.84)	1.83	(1.59)	4.48
QVMS	0.85	(0.05)	(0.03)	0.03	1.06	(0.90)	1.98	(1.57)	4.37
SIXL	0.45	(0.04)	(0.12)	(0.02)	0.65	(0.48)	1.06	(0.79)	3.40
GVLU	0.64	(0.02)	(0.02)	0.06	0.74	(0.66)	1.33	(1.20)	3.31
AVXC	0.68	0.13	0.07	0.76	0.80	(0.70)	1.71	(1.22)	4.65
DBP	1.29	0.25	0.09	0.82	1.87	(1.30)	3.10	(2.66)	9.97

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