First Trust Correlations

FPEI Etf

USD 19.50 0.02 0.10%

The current 90-days correlation between First Trust Institutional and iShares MSCI Australia is 0.42 (i.e., Very weak 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 Institutional 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 Institutional 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 Institutional. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Moving together with First Etf

0.91	PFF	iShares Preferred	Pair Corr
0.98	FPE	First Trust Preferred	Pair Corr
0.75	PGX	Invesco Preferred ETF	Pair Corr
0.92	PFFD	Global X Preferred	Pair Corr
0.97	VRP	Invesco Variable Rate	Pair Corr
0.68	PGF	Invesco Financial	Pair Corr
0.69	PSK	SPDR ICE Preferred	Pair Corr
0.96	PFXF	VanEck Preferred Sec	Pair Corr
0.95	PFFA	Virtus InfraCap Preferred	Pair Corr
0.89	SIXD	AIM ETF Products	Pair Corr
0.88	VBK	Vanguard Small Cap	Pair Corr
0.84	RDIV	Invesco SP Ultra	Pair Corr
0.97	AHYB	American Century ETF	Pair Corr
0.97	BINC	BlackRock ETF Trust	Pair Corr
0.94	AA	Alcoa Corp	Pair Corr
0.8	INTC	Intel	Pair Corr
0.87	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.92	DD	Dupont De Nemours	Pair Corr
0.93	BA	Boeing	Pair Corr
0.88	MRK	Merck Company Aggressive Push	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.82	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against First Etf

0.9	VXX	iPath Series B	Pair Corr
0.9	VIXY	ProShares VIX Short	Pair Corr
0.88	VIXM	ProShares VIX Mid	Pair Corr
0.88	VXZ	iPath Series B	Pair Corr
0.45	YCL	ProShares Ultra Yen	Pair Corr
0.73	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	TIPX	HYLS	ZROZ	BSVO	FXU	SMMD	EQWL	DFSU	RPG	EWA
TIPX		0.46	-0.23	0.63	0.53	0.56	0.59	0.39	0.5	0.63	TIPX
HYLS	0.46		-0.66	0.8	-0.12	0.89	0.87	0.83	0.84	0.61	HYLS
ZROZ	-0.23	-0.66		-0.74	0.25	-0.69	-0.74	-0.67	-0.63	-0.59	ZROZ
BSVO	0.63	0.8	-0.74		0.15	0.96	0.95	0.79	0.86	0.85	BSVO
FXU	0.53	-0.12	0.25	0.15		0.1	0.05	-0.16	0.09	0.33	FXU
SMMD	0.56	0.89	-0.69	0.96	0.1		0.96	0.86	0.94	0.82	SMMD
EQWL	0.59	0.87	-0.74	0.95	0.05	0.96		0.88	0.91	0.84	EQWL
DFSU	0.39	0.83	-0.67	0.79	-0.16	0.86	0.88		0.86	0.7	DFSU
RPG	0.5	0.84	-0.63	0.86	0.09	0.94	0.91	0.86		0.85	RPG
EWA	0.63	0.61	-0.59	0.85	0.33	0.82	0.84	0.7	0.85		EWA
	TIPX	HYLS	ZROZ	BSVO	FXU	SMMD	EQWL	DFSU	RPG	EWA

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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

SMMD	+ 0.96	BSVO
EQWL	+ 0.96	SMMD
EQWL	+ 0.95	BSVO
RPG	+ 0.94	SMMD
RPG	+ 0.91	EQWL
SMMD	+ 0.89	HYLS

High negative correlations

EQWL	- 0.74	ZROZ
BSVO	- 0.74	ZROZ
SMMD	- 0.69	ZROZ
DFSU	- 0.67	ZROZ
ZROZ	- 0.66	HYLS
RPG	- 0.63	ZROZ

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
TIPX	0.11	0.00	(0.58)	0.02	0.08	(0.12)	0.21	(0.21)	0.58
HYLS	0.13	0.00	(0.53)	0.08	0.00	(0.14)	0.29	(0.22)	0.61
ZROZ	0.69	(0.11)	0.00	(0.30)	0.00	0.00	1.24	(1.74)	3.68
BSVO	0.89	0.18	0.20	0.25	0.57	(1.04)	2.83	(1.51)	5.46
FXU	0.58	0.02	(0.06)	0.18	0.79	(0.57)	1.11	(1.16)	3.28
SMMD	0.84	0.07	0.08	0.15	0.78	(0.93)	1.89	(1.38)	3.74
EQWL	0.52	0.03	0.01	0.13	0.51	(0.56)	1.06	(1.00)	2.76
DFSU	0.62	0.03	(0.06)	1.23	0.78	(0.63)	1.41	(1.32)	3.59
RPG	0.95	0.00	0.00	0.09	1.18	(0.94)	1.65	(2.03)	5.43
EWA	0.77	0.09	0.07	0.23	0.83	(0.84)	1.51	(1.37)	4.60

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