First Trust Correlations

Etfs . USA . 
Etf . First Trust Equity
FPX Etf  USD 126.18  1.74  1.40%   
The current 90-days correlation between First Trust Equity and Invesco SP Spin Off is 0.76 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Equity and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Equity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with First Etf

  0.99VOT Vanguard Mid CapPairCorr
  0.99IWP iShares Russell MidPairCorr
  0.93ARKK ARK Innovation ETFPairCorr
  0.91IJK iShares SP MidPairCorr
  0.97JKH iShares Morningstar MidPairCorr
  0.95KOMP SPDR Kensho NewPairCorr
  0.92MDYG SPDR SP 400PairCorr
  0.99IMCG iShares Morningstar MidPairCorr
  0.91IVOG Vanguard SP MidPairCorr
  0.98VTI Vanguard Total StockPairCorr
  0.97SPY SPDR SP 500PairCorr
  0.97IVV iShares Core SPPairCorr
  0.91VTV Vanguard Value IndexPairCorr
  0.96VUG Vanguard Growth IndexPairCorr
  0.98VO Vanguard Mid CapPairCorr
  0.97VB Vanguard Small CapPairCorr
  0.91STCE Schwab Strategic TrustPairCorr
  0.93PPA Invesco Aerospace DefensePairCorr
  0.85DIS Walt Disney Aggressive PushPairCorr
  0.89BAC Bank of America Aggressive PushPairCorr
  0.77HD Home DepotPairCorr
  0.8CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.95AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.9INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.9AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.64XOM Exxon Mobil Corp Aggressive PushPairCorr

Moving against First Etf

  0.7BND Vanguard Total Bond Sell-off TrendPairCorr
  0.53VEA Vanguard FTSE DevelopedPairCorr
  0.86MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.79BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.78JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.78KO Coca Cola Aggressive PushPairCorr
  0.51PG Procter GamblePairCorr

Related Correlations Analysis

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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.

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