First Trust Correlations

FPXE Etf

USD 32.89 0.04 0.12%

The current 90-days correlation between First Trust IPOX and ProShares Nanotechnology ETF is 0.65 (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

Almost no diversification

The correlation between First Trust IPOX 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 IPOX 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 IPOX. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with First Etf

0.98	VGK	Vanguard FTSE Europe Sell-off Trend	Pair Corr
0.98	EZU	iShares MSCI Eurozone	Pair Corr
0.98	BBEU	JPMorgan BetaBuilders	Pair Corr
0.98	IEUR	iShares Core MSCI	Pair Corr
0.98	FEZ	SPDR EURO STOXX	Pair Corr
0.98	IEV	iShares Europe ETF	Pair Corr
0.91	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.93	EUFN	iShares MSCI Europe	Pair Corr
0.94	DBEU	Xtrackers MSCI Europe	Pair Corr
0.94	HEZU	iShares Currency Hedged	Pair Corr
0.66	USD	ProShares Ultra Semi	Pair Corr
0.9	JNUG	Direxion Daily Junior	Pair Corr
0.85	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.9	NUGT	Direxion Daily Gold	Pair Corr
0.92	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.69	AGQ	ProShares Ultra Silver	Pair Corr
0.92	DGP	DB Gold Double	Pair Corr
0.72	DOGG	First Trust Exchange	Pair Corr
0.92	SPVM	Invesco SP 500	Pair Corr
0.87	LVHI	Franklin International	Pair Corr
0.94	UMAY	Innovator ETFs Trust	Pair Corr
0.92	JANW	AIM ETF Products	Pair Corr
0.93	ESML	iShares ESG Aware	Pair Corr
0.94	GAPR	First Trust Exchange	Pair Corr
0.9	TAXT	Northern Trust Tax	Pair Corr
0.94	CCNR	CoreCommodity Natural	Pair Corr
0.86	SCDV	ETF Series Solutions	Pair Corr
0.89	WDNA	WisdomTree BioRevolution	Pair Corr
0.89	BMVP	Invesco Bloomberg MVP	Pair Corr
0.94	GENW	Spinnaker ETF Series	Pair Corr
0.93	NBCE	Neuberger Berman ETF	Pair Corr
0.92	TLCI	Touchstone ETF Trust	Pair Corr
0.89	EMES	Harbor ETF Trust	Pair Corr
0.91	PSFD	Pacer Swan SOS	Pair Corr
0.93	EWT	iShares MSCI Taiwan	Pair Corr
0.93	PFF	iShares Preferred	Pair Corr

Related Correlations Analysis

	EMOT	VCLN	KNOW	FRIZ	KBAB	MIDE	ODDS	SEPI	FLDZ	TINY
EMOT		0.89	0.96	0.9	0.38	0.95	-0.68	0.81	0.9	0.95	EMOT
VCLN	0.89		0.9	0.72	0.43	0.83	-0.7	0.7	0.72	0.9	VCLN
KNOW	0.96	0.9		0.81	0.34	0.95	-0.82	0.69	0.84	0.98	KNOW
FRIZ	0.9	0.72	0.81		0.21	0.9	-0.4	0.88	0.94	0.82	FRIZ
KBAB	0.38	0.43	0.34	0.21		0.19	-0.17	0.31	0.2	0.43	KBAB
MIDE	0.95	0.83	0.95	0.9	0.19		-0.67	0.79	0.94	0.93	MIDE
ODDS	-0.68	-0.7	-0.82	-0.4	-0.17	-0.67		-0.24	-0.47	-0.74	ODDS
SEPI	0.81	0.7	0.69	0.88	0.31	0.79	-0.24		0.79	0.75	SEPI
FLDZ	0.9	0.72	0.84	0.94	0.2	0.94	-0.47	0.79		0.84	FLDZ
TINY	0.95	0.9	0.98	0.82	0.43	0.93	-0.74	0.75	0.84		TINY
	EMOT	VCLN	KNOW	FRIZ	KBAB	MIDE	ODDS	SEPI	FLDZ	TINY

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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

TINY	+ 0.98	KNOW
KNOW	+ 0.96	EMOT
MIDE	+ 0.95	EMOT
TINY	+ 0.95	EMOT
MIDE	+ 0.95	KNOW
FLDZ	+ 0.94	FRIZ

High negative correlations

ODDS	- 0.82	KNOW
TINY	- 0.74	ODDS
ODDS	- 0.7	VCLN
ODDS	- 0.68	EMOT
ODDS	- 0.67	MIDE
FLDZ	- 0.47	ODDS

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
EMOT	0.53	0.03	0.02	0.11	0.57	(0.57)	1.45	(1.10)	3.24
VCLN	1.43	0.07	0.03	0.14	1.58	(1.56)	3.04	(3.19)	12.59
KNOW	0.44	0.12	0.15	0.30	0.30	(0.48)	0.97	(0.84)	2.12
FRIZ	0.49	(0.01)	(0.04)	0.04	0.61	(0.52)	0.90	(0.99)	3.18
KBAB	3.98	(0.24)	0.00	(0.15)	0.00	0.00	10.46	(6.95)	27.35
MIDE	0.72	0.10	0.08	0.17	0.73	(0.78)	1.69	(1.75)	4.91
ODDS	1.03	(0.42)	0.00	(0.33)	0.00	0.00	1.66	(2.71)	6.94
SEPI	0.63	(0.06)	0.00	(0.03)	0.00	0.00	1.06	(1.39)	3.43
FLDZ	0.58	0.03	0.02	0.10	0.59	(0.67)	1.43	(1.23)	3.60
TINY	1.47	0.28	0.18	0.25	1.42	(1.67)	3.49	(2.78)	9.79

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