First Trust Correlations

Etfs . USA . 
Etf . First Trust International
FPXI Etf  USD 49.48  0.38  0.77%   
The current 90-days correlation between First Trust International and iShares MSCI Intl is 0.75 (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 weak diversification

The correlation between First Trust International and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust International 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 International. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with First Etf

  0.79PIZ Invesco DWA DevelopedPairCorr
  0.86UPRO ProShares UltraPro SP500PairCorr
  0.86QTJA Innovator ETFs TrustPairCorr
  0.7QTOC Innovator ETFs TrustPairCorr
  0.67XTOC Innovator ETFs TrustPairCorr
  0.88QTAP Innovator Growth 100PairCorr
  0.69TSJA TSJAPairCorr
  0.82XTJA Innovator ETFs TrustPairCorr
  0.69DSJA DSJAPairCorr
  0.83XDJA Innovator ETFs TrustPairCorr
  0.85XTAP Innovator Equity AccPairCorr
  0.64MSTY YieldMax MSTR OptionPairCorr
  0.7DIVG Invesco Exchange TradedPairCorr
  0.68IDGT iShares Trust Symbol ChangePairCorr
  0.61BTC Grayscale Bitcoin MiniPairCorr
  0.75DIVB iShares DividendPairCorr
  0.85SPY SPDR SP 500 Aggressive PushPairCorr
  0.8HPQ HP IncPairCorr
  0.8AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.61HD Home DepotPairCorr
  0.76CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr

Moving against First Etf

  0.35IQDG WisdomTree InternationalPairCorr
  0.62MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.6KO Coca Cola Aggressive PushPairCorr
  0.58PG Procter GamblePairCorr
  0.44BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.39PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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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   
IVLU
+ 0.96
IQLT
ISCF
+ 0.94
IVLU
ISCF
+ 0.91
IQLT
ISCF
+ 0.64
EMGF
EMGF
+ 0.47
IVLU
EMGF
+ 0.43
IQLT
  
High negative correlations   
SMLF
- 0.6
IQLT
SMLF
- 0.52
IVLU
SMLF
- 0.29
ISCF

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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