First Trust Correlations

FPXE Etf

USD 32.90 0.26 0.80%

The current 90-days correlation between First Trust IPOX and ProShares Nanotechnology ETF is 0.71 (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

Very poor diversification

The correlation between First Trust IPOX and DJI is 0.85 (i.e., Very poor 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 median.

Moving together with First Etf

0.87	VGK	Vanguard FTSE Europe	Pair Corr
0.88	EZU	iShares MSCI Eurozone	Pair Corr
0.84	BBEU	JPMorgan BetaBuilders	Pair Corr
0.84	IEUR	iShares Core MSCI	Pair Corr
0.88	FEZ	SPDR EURO STOXX	Pair Corr
0.86	IEV	iShares Europe ETF	Pair Corr
0.83	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.73	EUFN	iShares MSCI Europe	Pair Corr
0.82	DBEU	Xtrackers MSCI Europe	Pair Corr
0.81	HEZU	iShares Currency Hedged	Pair Corr
0.84	SMH	VanEck Semiconductor ETF	Pair Corr
0.81	UPRO	ProShares UltraPro SP500	Pair Corr
0.8	SPXL	Direxion Daily SP500	Pair Corr
0.83	SOXX	iShares Semiconductor ETF	Pair Corr
0.82	PSI	Invesco Dynamic Semi	Pair Corr
0.69	LIT	Global X Lithium	Pair Corr
0.68	JANH	Innovator Equity Premium	Pair Corr
0.76	LITL	Simplify Exchange Traded	Pair Corr
0.85	DHSB	Strategy Shares	Pair Corr
0.74	MMSD	New York Life	Pair Corr
0.75	MOOD	Relative Sentiment	Pair Corr
0.72	SGOL	abrdn Physical Gold	Pair Corr
0.71	EPEM	Harbor ETF Trust	Pair Corr
0.8	IWD	iShares Russell 1000	Pair Corr
0.62	XOMO	Yieldmax XOM Option	Pair Corr
0.83	EEMX	SPDR MSCI Emerging	Pair Corr
0.68	GLDX	USCF Gold Strategy	Pair Corr
0.82	HYUP	Xtrackers High Beta	Pair Corr
0.9	KCE	SPDR SP Capital	Pair Corr
0.73	IBMQ	iShares Trust	Pair Corr
0.71	SIVR	abrdn Physical Silver Buyout Trend	Pair Corr
0.71	SPVM	Invesco SP 500	Pair Corr
0.7	GDX	VanEck Gold Miners Aggressive Push	Pair Corr

Related Correlations Analysis

	EMOT	VCLN	KNOW	FRIZ	KBAB	MIDE	ODDS	SEPI	FLDZ	TINY
EMOT		0.57	0.92	0.9	0.14	0.89	-0.17	0.71	0.94	0.89	EMOT
VCLN	0.57		0.67	0.57	-0.1	0.64	-0.45	0.7	0.53	0.65	VCLN
KNOW	0.92	0.67		0.88	0.01	0.94	-0.44	0.76	0.91	0.96	KNOW
FRIZ	0.9	0.57	0.88		-0.2	0.93	-0.29	0.85	0.93	0.79	FRIZ
KBAB	0.14	-0.1	0.01	-0.2		-0.23	0.48	-0.3	-0.05	0.15	KBAB
MIDE	0.89	0.64	0.94	0.93	-0.23		-0.45	0.82	0.94	0.87	MIDE
ODDS	-0.17	-0.45	-0.44	-0.29	0.48	-0.45		-0.38	-0.2	-0.37	ODDS
SEPI	0.71	0.7	0.76	0.85	-0.3	0.82	-0.38		0.73	0.71	SEPI
FLDZ	0.94	0.53	0.91	0.93	-0.05	0.94	-0.2	0.73		0.84	FLDZ
TINY	0.89	0.65	0.96	0.79	0.15	0.87	-0.37	0.71	0.84		TINY
	EMOT	VCLN	KNOW	FRIZ	KBAB	MIDE	ODDS	SEPI	FLDZ	TINY

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.96	KNOW
FLDZ	+ 0.94	EMOT
MIDE	+ 0.94	KNOW
FLDZ	+ 0.94	MIDE
MIDE	+ 0.93	FRIZ
FLDZ	+ 0.93	FRIZ

High negative correlations

ODDS	- 0.45	MIDE
ODDS	- 0.45	VCLN
ODDS	- 0.44	KNOW
SEPI	- 0.38	ODDS
TINY	- 0.37	ODDS
SEPI	- 0.3	KBAB

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	0.56	(0.01)	(0.04)	0.05	0.69	(0.56)	1.28	(1.10)	3.24
VCLN	1.40	0.13	0.06	0.38	1.46	(1.65)	3.28	(3.19)	12.59
KNOW	0.41	0.05	0.03	0.15	0.36	(0.43)	0.91	(0.84)	1.94
FRIZ	0.46	(0.02)	(0.06)	0.04	0.55	(0.50)	0.85	(0.81)	3.18
KBAB	3.97	0.03	0.01	0.11	4.07	(4.79)	10.46	(6.95)	26.87
MIDE	0.74	0.03	0.03	0.10	0.79	(0.81)	1.51	(1.66)	4.91
ODDS	0.80	(0.30)	0.00	(0.25)	0.00	0.00	1.31	(2.20)	4.63
SEPI	0.61	0.04	(0.02)	0.46	0.76	(0.60)	1.05	(1.32)	5.24
FLDZ	0.61	(0.04)	(0.06)	0.02	0.74	(0.62)	1.25	(1.23)	3.60
TINY	1.35	0.17	0.13	0.19	1.34	(1.51)	3.16	(2.74)	7.26

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC