First Trust Correlations

FPE Etf

USD 18.29 0.02 0.11%

The current 90-days correlation between First Trust Preferred and iShares SP Small Cap is 0.62 (i.e., Poor 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

Very weak diversification

The correlation between First Trust Preferred and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Preferred 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 Preferred. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with First Etf

0.79	VRP	Invesco Variable Rate	Pair Corr
0.89	FPEI	First Trust Institutional	Pair Corr
0.68	PFFA	Virtus InfraCap Preferred	Pair Corr
0.79	VTI	Vanguard Total Stock	Pair Corr
0.8	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.8	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.76	VTV	Vanguard Value Index	Pair Corr
0.81	VEA	Vanguard FTSE Developed	Pair Corr
0.64	VB	Vanguard Small Cap	Pair Corr
0.79	TUSI	Touchstone ETF Trust	Pair Corr
0.71	SJLD	SanJac Alpha Low	Pair Corr
0.77	OVF	Overlay Shares Foreign	Pair Corr
0.67	IAUM	iShares Gold Trust	Pair Corr
0.84	TMH	Precidian ETFs Trust	Pair Corr
0.7	ICOP	iShares Copper	Pair Corr
0.67	JDOC	JPMorgan Healthcare	Pair Corr
0.84	DDFO	Innovator Equity Dual	Pair Corr
0.8	PBFB	PGIM Large Cap	Pair Corr
0.84	GAPR	First Trust Exchange	Pair Corr
0.76	CALI	iShares Short Term	Pair Corr
0.78	GDE	WisdomTree Efficient Gold	Pair Corr
0.85	IDEC	Innovator ETFs Trust	Pair Corr
0.83	CPSL	Calamos Laddered	Pair Corr
0.83	PRVS	Parnassus Income Funds	Pair Corr
0.69	AGQ	ProShares Ultra Silver	Pair Corr
0.76	EVMT	Invesco Electric Vehicle	Pair Corr

Moving against First Etf

0.32

PSK

SPDR ICE Preferred

Pair Corr

Related Correlations Analysis

	IJT	THRO	IBB	XLB	VOX	VOOV	HIDE	AIQ	HEFA	EWZ
IJT		0.7	0.4	0.68	0.88	0.81	0.44	0.27	0.71	0.27	IJT
THRO	0.7		0.55	0.45	0.8	0.85	0.61	0.56	0.79	0.58	THRO
IBB	0.4	0.55		0.33	0.63	0.73	0.81	-0.14	0.73	0.87	IBB
XLB	0.68	0.45	0.33		0.71	0.68	0.39	0.19	0.7	0.17	XLB
VOX	0.88	0.8	0.63	0.71		0.88	0.61	0.24	0.84	0.47	VOX
VOOV	0.81	0.85	0.73	0.68	0.88		0.76	0.3	0.95	0.69	VOOV
HIDE	0.44	0.61	0.81	0.39	0.61	0.76		0.03	0.74	0.77	HIDE
AIQ	0.27	0.56	-0.14	0.19	0.24	0.3	0.03		0.3	0.0	AIQ
HEFA	0.71	0.79	0.73	0.7	0.84	0.95	0.74	0.3		0.69	HEFA
EWZ	0.27	0.58	0.87	0.17	0.47	0.69	0.77	0.0	0.69		EWZ
	IJT	THRO	IBB	XLB	VOX	VOOV	HIDE	AIQ	HEFA	EWZ

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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

HEFA	+ 0.95	VOOV
VOX	+ 0.88	IJT
VOOV	+ 0.88	VOX
EWZ	+ 0.87	IBB
VOOV	+ 0.85	THRO
HEFA	+ 0.84	VOX

High negative correlations

AIQ	- 0.14	IBB
EWZ	- 0.0	AIQ

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
IJT	0.86	(0.05)	(0.03)	0.02	1.08	(0.88)	1.66	(1.53)	4.62
THRO	0.63	(0.01)	(0.02)	0.05	0.87	(0.64)	1.25	(1.33)	3.48
IBB	0.88	0.19	0.20	0.32	0.61	(1.03)	2.33	(1.35)	5.02
XLB	0.78	0.07	0.03	0.36	0.78	(0.90)	1.95	(1.50)	3.61
VOX	0.74	0.01	0.00	0.08	0.84	(0.83)	1.72	(1.35)	4.22
VOOV	0.54	(0.01)	(0.02)	0.06	0.65	(0.57)	0.99	(0.99)	2.49
HIDE	0.20	0.01	(0.17)	0.11	0.20	(0.21)	0.35	(0.48)	1.15
AIQ	1.11	0.06	0.00	0.45	1.56	(1.13)	2.22	(2.66)	6.83
HEFA	0.52	0.06	0.06	0.15	0.59	(0.54)	1.29	(1.16)	3.40
EWZ	1.06	0.11	0.06	0.18	1.58	(1.10)	2.17	(2.05)	9.25

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