First Trust Correlations

FNK Etf

USD 58.46 0.11 0.19%

The current 90-days correlation between First Trust Mid and iShares MSCI Brazil is 0.18 (i.e., Average diversification). 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 Mid moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust Mid and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Mid 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 Mid. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with First Etf

0.97	VBR	Vanguard Small Cap	Pair Corr
0.96	IWN	iShares Russell 2000	Pair Corr
0.97	DFAT	Dimensional Targeted	Pair Corr
0.96	IJS	iShares SP Small	Pair Corr
0.96	SLYV	SPDR SP 600	Pair Corr
0.96	AVUV	Avantis Small Cap	Pair Corr
0.95	DES	WisdomTree SmallCap	Pair Corr
0.96	MDYV	SPDR SP 400	Pair Corr
0.92	CALF	Pacer Small Cap	Pair Corr
0.95	REGL	ProShares SP MidCap	Pair Corr
0.84	VTI	Vanguard Total Stock	Pair Corr
0.8	SPY	SPDR SP 500	Pair Corr
0.8	IVV	iShares Core SP	Pair Corr
0.62	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.84	TOT	Advisor Managed Port	Pair Corr
0.96	VTV	Vanguard Value Index	Pair Corr
0.91	VO	Vanguard Mid Cap	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.68	CVX	Chevron Corp	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.63	PFE	Pfizer Inc Earnings Call Today	Pair Corr
0.92	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.72	INTC	Intel Aggressive Push	Pair Corr
0.89	BA	Boeing	Pair Corr
0.78	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.93	AA	Alcoa Corp	Pair Corr
0.82	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against First Etf

0.45	IRE	Tidal Trust II Potential Growth	Pair Corr
0.72	HPQ	HP Inc Aggressive Push	Pair Corr
0.67	MSFT	Microsoft	Pair Corr
0.53	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.34	MMM	3M Company	Pair Corr

Related Correlations Analysis

	FJP	FXZ	FYT	GHYG	AVXC	FDM	EPU	FAB	FDEV	EWZS
FJP		0.94	0.91	0.89	0.91	0.87	0.95	0.92	0.95	0.6	FJP
FXZ	0.94		0.95	0.94	0.94	0.89	0.97	0.96	0.96	0.55	FXZ
FYT	0.91	0.95		0.92	0.84	0.94	0.9	0.99	0.91	0.47	FYT
GHYG	0.89	0.94	0.92		0.87	0.92	0.93	0.94	0.97	0.45	GHYG
AVXC	0.91	0.94	0.84	0.87		0.73	0.96	0.85	0.9	0.71	AVXC
FDM	0.87	0.89	0.94	0.92	0.73		0.86	0.94	0.91	0.31	FDM
EPU	0.95	0.97	0.9	0.93	0.96	0.86		0.91	0.97	0.6	EPU
FAB	0.92	0.96	0.99	0.94	0.85	0.94	0.91		0.94	0.45	FAB
FDEV	0.95	0.96	0.91	0.97	0.9	0.91	0.97	0.94		0.49	FDEV
EWZS	0.6	0.55	0.47	0.45	0.71	0.31	0.6	0.45	0.49		EWZS
	FJP	FXZ	FYT	GHYG	AVXC	FDM	EPU	FAB	FDEV	EWZS

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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
FJP	0.68	0.13	0.09	1.10	0.77	(0.73)	1.85	(1.37)	4.38
FXZ	1.08	0.18	0.14	0.19	1.12	(1.15)	2.43	(2.51)	6.06
FYT	0.84	0.11	0.12	0.14	0.71	(0.94)	2.59	(1.37)	5.02
GHYG	0.17	0.02	(0.12)	0.34	0.09	(0.18)	0.39	(0.33)	1.26
AVXC	0.66	0.15	0.14	0.29	0.61	(0.72)	1.40	(1.22)	3.74
FDM	0.87	0.16	0.13	0.81	0.74	(1.04)	2.35	(1.31)	6.12
EPU	1.25	0.53	0.23	(5.50)	1.54	(1.40)	2.53	(2.85)	5.10
FAB	0.64	0.09	0.12	0.15	0.52	(0.76)	1.88	(1.10)	3.76
FDEV	0.51	0.11	0.10	1.84	0.49	(0.57)	1.14	(1.06)	2.58
EWZS	1.33	0.15	0.07	0.20	2.02	(1.35)	2.88	(2.71)	11.14

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