First Trust Correlations

FPE Etf

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The current 90-days correlation between First Trust Preferred and iShares MSCI Brazil is -0.02 (i.e., Good 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

Almost no diversification

The correlation between First Trust Preferred and DJI is 0.91 (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 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 metropolitan statistical area.

Moving together with First Etf

0.91	PFF	iShares Preferred Sell-off Trend	Pair Corr
0.9	PFFD	Global X Preferred	Pair Corr
0.96	VRP	Invesco Variable Rate	Pair Corr
0.94	PFXF	VanEck Preferred Sec	Pair Corr
0.92	FPEI	First Trust Institutional	Pair Corr
0.92	PFFA	Virtus InfraCap Preferred	Pair Corr
0.85	OIH	VanEck Oil Services	Pair Corr
0.92	WTMF	WisdomTree Managed	Pair Corr
0.9	EWC	iShares MSCI Canada	Pair Corr
0.81	TOT	Advisor Managed Port	Pair Corr
0.69	MILK	Pacer Cash Cows	Pair Corr
0.92	BRHY	BlackRock High Yield	Pair Corr
0.77	TECHX	Wisdomtree Digital Trust	Pair Corr
0.94	DDLS	WisdomTree Dynamic	Pair Corr
0.87	GSEE	Goldman Sachs MarketBeta Low Volatility	Pair Corr
0.8	SNAV	Collaborative Investment	Pair Corr
0.87	DFAE	Dimensional Emerging Core	Pair Corr
0.96	RSJN	First Trust Exchange	Pair Corr
0.86	BIL	SPDR Bloomberg 1	Pair Corr
0.83	SCHX	Schwab Large Cap	Pair Corr
0.62	FIAT	YieldMax Short N	Pair Corr
0.75	BLST	Exchange Traded Concepts	Pair Corr
0.88	PSMO	Pacer Swan SOS	Pair Corr
0.87	UX	Roundhill Uranium ETF	Pair Corr
0.82	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.96	HFXI	IQ 50 Percent	Pair Corr
0.89	RWK	Invesco SP MidCap	Pair Corr
0.9	EWM	iShares MSCI Malaysia	Pair Corr
0.74	EWA	iShares MSCI Australia	Pair Corr
0.95	CPRO	Calamos ETF Trust	Pair Corr
0.91	JPSE	JPMorgan Diversified	Pair Corr

Related Correlations Analysis

	IJT	THRO	IBB	XLB	VOX	VOOV	HIDE	AIQ	HEFA	EWZ
IJT		0.62	0.62	0.86	0.84	0.93	0.75	0.57	0.89	0.63	IJT
THRO	0.62		0.33	0.6	0.68	0.71	0.45	0.73	0.67	0.39	THRO
IBB	0.62	0.33		0.65	0.66	0.7	0.68	-0.02	0.68	0.71	IBB
XLB	0.86	0.6	0.65		0.73	0.9	0.89	0.5	0.93	0.77	XLB
VOX	0.84	0.68	0.66	0.73		0.87	0.56	0.53	0.79	0.47	VOX
VOOV	0.93	0.71	0.7	0.9	0.87		0.77	0.56	0.96	0.67	VOOV
HIDE	0.75	0.45	0.68	0.89	0.56	0.77		0.4	0.8	0.9	HIDE
AIQ	0.57	0.73	-0.02	0.5	0.53	0.56	0.4		0.55	0.28	AIQ
HEFA	0.89	0.67	0.68	0.93	0.79	0.96	0.8	0.55		0.7	HEFA
EWZ	0.63	0.39	0.71	0.77	0.47	0.67	0.9	0.28	0.7		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	+ 0.96	VOOV
VOOV	+ 0.93	IJT
HEFA	+ 0.93	XLB
VOOV	+ 0.9	XLB
EWZ	+ 0.9	HIDE
HEFA	+ 0.89	IJT

High negative correlations

AIQ

- 0.02

IBB

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	0.80	(0.01)	0.00	0.05	0.93	(0.80)	1.66	(1.53)	4.91
THRO	0.61	0.05	(0.01)	0.57	0.86	(0.58)	1.23	(1.33)	4.03
IBB	0.95	0.14	0.11	0.29	0.83	(1.10)	2.41	(1.62)	5.75
XLB	0.79	0.17	0.14	0.77	0.65	(0.89)	1.98	(1.50)	3.96
VOX	0.70	0.03	0.01	0.10	0.76	(0.80)	1.82	(1.35)	4.23
VOOV	0.51	0.00	(0.02)	0.07	0.52	(0.58)	0.99	(0.99)	3.07
HIDE	0.19	0.03	(0.10)	0.42	0.04	(0.22)	0.35	(0.40)	0.88
AIQ	0.99	0.00	0.01	0.07	1.43	(0.97)	1.88	(2.66)	5.95
HEFA	0.49	0.05	0.05	0.14	0.55	(0.51)	1.28	(1.16)	3.53
EWZ	1.08	0.36	0.19	0.59	1.38	(1.23)	2.83	(1.82)	9.25

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