First Trust Correlations

FPXI Etf

USD 51.06 0.67 1.33%

The current 90-days correlation between First Trust International and First Trust Mid is 0.7 (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

Modest diversification

The correlation between First Trust International and DJI is 0.28 (i.e., Modest 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

0.75	EFG	iShares MSCI EAFE	Pair Corr
0.63	VIGI	Vanguard International	Pair Corr
0.65	IHDG	WisdomTree International	Pair Corr
0.74	CGXU	Capital Group Intern	Pair Corr
0.67	DNL	WisdomTree Global	Pair Corr
0.64	IQDG	WisdomTree International Low Volatility	Pair Corr
0.92	PIZ	Invesco DWA Developed	Pair Corr
0.63	IDHQ	Invesco SP International	Pair Corr
0.62	SHLD	Global X Funds	Pair Corr
0.65	HUM	Humana Inc	Pair Corr
0.81	SWP	SWP Growth Income	Pair Corr
0.68	DUKH	Ocean Park High	Pair Corr
0.76	NIXT	Research Affiliates	Pair Corr
0.64	RFDA	RiverFront Dynamic	Pair Corr
0.77	HD	Home Depot	Pair Corr

Related Correlations Analysis

	FNY	FEM	FEMB	FCVT	FTCS
FNY		0.24	0.27	0.78	0.83	FNY
FEM	0.24		0.71	0.09	0.47	FEM
FEMB	0.27	0.71		-0.07	0.66	FEMB
FCVT	0.78	0.09	-0.07		0.48	FCVT
FTCS	0.83	0.47	0.66	0.48		FTCS
	FNY	FEM	FEMB	FCVT	FTCS

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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

FTCS	+ 0.83	FNY
FCVT	+ 0.78	FNY
FEMB	+ 0.71	FEM
FTCS	+ 0.66	FEMB
FTCS	+ 0.48	FCVT
FTCS	+ 0.47	FEM

High negative correlations

FCVT

- 0.07

FEMB

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
FNY	0.90	0.03	0.00	0.14	1.19	(0.93)	1.71	(1.89)	8.15
FEM	0.72	(0.08)	0.00	(0.12)	0.00	0.00	1.50	(2.24)	6.77
FEMB	0.44	(0.04)	0.00	(0.23)	0.00	0.00	0.89	(1.06)	3.05
FCVT	0.66	0.06	(0.01)	0.54	0.76	(0.72)	1.43	(1.16)	4.01
FTCS	0.51	(0.05)	0.00	(0.06)	0.00	0.00	0.95	(1.00)	4.04

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