First Trust Correlations

FPA Etf

USD 43.90 0.23 0.53%

The current 90-days correlation between First Trust Asia and First Trust Horizon is 0.1 (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 Asia and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Asia 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 Asia. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with First Etf

0.94	BBAX	JPMorgan BetaBuilders	Pair Corr
0.94	AAXJ	iShares MSCI All	Pair Corr
0.93	EPP	iShares MSCI Pacific	Pair Corr
0.95	AIA	iShares Asia 50	Pair Corr
0.87	GMF	SPDR SP Emerging	Pair Corr
0.94	FLAX	Franklin FTSE Asia	Pair Corr
0.88	MINV	Matthews Asia Innovators	Pair Corr
0.8	ADIV	SmartETFs Asia Pacific	Pair Corr
0.71	AGQ	ProShares Ultra Silver	Pair Corr
0.77	JNUG	Direxion Daily Junior	Pair Corr
0.8	NUGT	Direxion Daily Gold	Pair Corr
0.64	GGLL	Direxion Daily GOOGL Downward Rally	Pair Corr
0.8	BINC	BlackRock ETF Trust	Pair Corr
0.69	VBK	Vanguard Small Cap	Pair Corr
0.71	MART	Allianzim Large Cap	Pair Corr
0.78	SPMD	SPDR Russell Small	Pair Corr
0.7	IEO	iShares Oil Gas Low Volatility	Pair Corr
0.64	OASC	OneAscent Small Cap	Pair Corr
0.7	GAPR	First Trust Exchange	Pair Corr
0.89	IAUM	iShares Gold Trust	Pair Corr
0.8	RDIV	Invesco SP Ultra	Pair Corr
0.69	AHYB	American Century ETF	Pair Corr
0.77	VUSB	Vanguard Ultra Short Sell-off Trend	Pair Corr
0.84	BBEU	JPMorgan BetaBuilders	Pair Corr
0.86	IBMR	iShares Trust	Pair Corr
0.7	GSIG	Goldman Sachs Access	Pair Corr

Moving against First Etf

0.71	FNGO	MicroSectors FANG Index	Pair Corr
0.41	GBTC	Grayscale Bitcoin Trust	Pair Corr

Related Correlations Analysis

	FLN	SQLV	FTDS	COWS	RFFC	JPSV	RAYC	BRF	MCH	HDMV
FLN		0.76	0.88	0.64	0.87	0.81	0.41	0.65	0.55	0.94	FLN
SQLV	0.76		0.95	0.95	0.91	0.98	0.5	0.36	0.49	0.78	SQLV
FTDS	0.88	0.95		0.88	0.93	0.96	0.52	0.45	0.52	0.9	FTDS
COWS	0.64	0.95	0.88		0.85	0.91	0.61	0.17	0.46	0.69	COWS
RFFC	0.87	0.91	0.93	0.85		0.91	0.5	0.54	0.7	0.88	RFFC
JPSV	0.81	0.98	0.96	0.91	0.91		0.55	0.38	0.44	0.81	JPSV
RAYC	0.41	0.5	0.52	0.61	0.5	0.55		-0.15	0.09	0.51	RAYC
BRF	0.65	0.36	0.45	0.17	0.54	0.38	-0.15		0.49	0.56	BRF
MCH	0.55	0.49	0.52	0.46	0.7	0.44	0.09	0.49		0.55	MCH
HDMV	0.94	0.78	0.9	0.69	0.88	0.81	0.51	0.56	0.55		HDMV
	FLN	SQLV	FTDS	COWS	RFFC	JPSV	RAYC	BRF	MCH	HDMV

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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

JPSV	+ 0.98	SQLV
JPSV	+ 0.96	FTDS
FTDS	+ 0.95	SQLV
COWS	+ 0.95	SQLV
HDMV	+ 0.94	FLN
RFFC	+ 0.93	FTDS

High negative correlations

BRF

- 0.15

RAYC

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
FLN	1.04	0.29	0.15	1.40	1.19	(1.14)	2.27	(2.15)	6.27
SQLV	0.84	0.09	0.11	0.16	0.64	(1.01)	2.29	(1.33)	5.04
FTDS	0.67	0.17	0.21	0.29	0.36	(0.79)	2.05	(1.25)	3.67
COWS	0.74	0.06	0.06	0.15	0.73	(0.81)	1.89	(1.41)	4.15
RFFC	0.64	0.02	0.00	0.10	0.70	(0.69)	1.34	(1.08)	3.37
JPSV	0.74	0.11	0.11	0.21	0.62	(0.96)	2.07	(1.30)	5.24
RAYC	0.69	0.10	0.02	1.60	0.88	(0.72)	1.81	(1.18)	7.60
BRF	1.46	0.23	0.09	0.40	2.00	(1.49)	2.72	(2.53)	10.04
MCH	0.83	(0.05)	(0.07)	0.00	1.04	(0.79)	1.52	(1.65)	5.61
HDMV	0.43	0.13	0.10	7.89	0.24	(0.49)	0.95	(0.78)	2.28

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