First Trust Correlations

FPE Etf

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The current 90-days correlation between First Trust Preferred and iShares MSCI Brazil is 0.26 (i.e., Modest 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 0.93 (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 employment.

Moving together with First Etf

0.97	PFF	iShares Preferred	Pair Corr
0.92	PGX	Invesco Preferred ETF	Pair Corr
0.96	PFFD	Global X Preferred	Pair Corr
0.98	VRP	Invesco Variable Rate	Pair Corr
0.91	PGF	Invesco Financial	Pair Corr
0.91	PSK	SPDR ICE Preferred	Pair Corr
0.98	PFXF	VanEck Preferred Sec	Pair Corr
0.98	FPEI	First Trust Institutional	Pair Corr
0.96	PFFA	Virtus InfraCap Preferred	Pair Corr
0.94	EMCB	WisdomTree Emerging	Pair Corr
0.94	WIP	SPDR FTSE International	Pair Corr
0.88	ISHG	iShares 1 3	Pair Corr
0.82	IGOV	iShares International	Pair Corr
0.96	ESML	iShares ESG Aware	Pair Corr
0.75	DBA	Invesco DB Agriculture	Pair Corr
0.88	FB	ProShares Trust ProShares	Pair Corr
0.98	NULV	Nuveen ESG Large	Pair Corr
0.62	TERG	Leverage Shares 2X Downward Rally	Pair Corr
0.95	BSMS	Invesco BulletShares 2028	Pair Corr
0.91	SIXJ	AIM ETF Products	Pair Corr
0.95	PCEM	Litman Gregory Funds	Pair Corr
0.97	FNDC	Schwab Fundamental	Pair Corr
0.94	BMVP	Invesco Bloomberg MVP	Pair Corr
0.92	LVHI	Franklin International Low Volatility	Pair Corr
0.89	TLCI	Touchstone ETF Trust	Pair Corr
0.95	SPVM	Invesco SP 500	Pair Corr
0.9	XAUG	FT Cboe Vest	Pair Corr
0.91	SCDV	ETF Series Solutions	Pair Corr
0.95	NBCE	Neuberger Berman ETF	Pair Corr
0.96	FPXE	First Trust IPOX	Pair Corr
0.92	XYLD	Global X SP	Pair Corr
0.93	UMAY	Innovator ETFs Trust	Pair Corr
0.97	IQSZ	Invesco Actively Managed	Pair Corr
0.96	CHPS	Xtrackers Semiconductor	Pair Corr

Related Correlations Analysis

	IJT	THRO	IBB	XLB	VOX	VOOV	HIDE	AIQ	HEFA	EWZ
IJT		0.51	0.76	0.87	0.67	0.94	0.8	0.43	0.92	0.74	IJT
THRO	0.51		0.42	0.38	0.75	0.54	0.31	0.92	0.49	0.27	THRO
IBB	0.76	0.42		0.64	0.67	0.68	0.64	0.33	0.64	0.6	IBB
XLB	0.87	0.38	0.64		0.45	0.92	0.94	0.32	0.95	0.89	XLB
VOX	0.67	0.75	0.67	0.45		0.64	0.38	0.65	0.58	0.35	VOX
VOOV	0.94	0.54	0.68	0.92	0.64		0.83	0.44	0.97	0.8	VOOV
HIDE	0.8	0.31	0.64	0.94	0.38	0.83		0.28	0.86	0.94	HIDE
AIQ	0.43	0.92	0.33	0.32	0.65	0.44	0.28		0.44	0.24	AIQ
HEFA	0.92	0.49	0.64	0.95	0.58	0.97	0.86	0.44		0.81	HEFA
EWZ	0.74	0.27	0.6	0.89	0.35	0.8	0.94	0.24	0.81		EWZ
	IJT	THRO	IBB	XLB	VOX	VOOV	HIDE	AIQ	HEFA	EWZ

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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
IJT	0.80	0.07	0.08	0.10	0.79	(0.93)	2.30	(1.63)	4.91
THRO	0.63	(0.04)	0.00	(4.18)	0.00	0.00	0.98	(1.60)	4.03
IBB	0.96	0.06	0.04	0.13	1.01	(1.09)	2.41	(1.68)	5.75
XLB	0.89	0.33	0.26	(1.99)	0.68	(1.00)	2.11	(1.50)	5.03
VOX	0.70	(0.02)	(0.05)	0.00	0.79	(0.83)	1.90	(1.56)	4.81
VOOV	0.51	0.03	0.03	0.08	0.53	(0.57)	1.01	(1.11)	3.07
HIDE	0.25	0.04	0.00	0.47	0.28	(0.27)	0.60	(0.53)	2.12
AIQ	1.04	(0.08)	0.00	(1.34)	0.00	0.00	1.87	(2.66)	6.43
HEFA	0.53	0.10	0.11	0.18	0.54	(0.56)	1.28	(1.16)	3.53
EWZ	1.23	0.21	0.11	0.38	1.60	(1.34)	2.66	(2.79)	9.12

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First Trust Correlations

First Trust Correlation With Market

Almost no diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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