First Trust Correlations

Etfs . Canada . 
Etf . First Trust Canadian
FST Etf  CAD 72.14  0.15  0.21%   
The current 90-days correlation between First Trust Canadian and iShares ESG Equity is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Canadian moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Modest diversification

The correlation between First Trust Canadian and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Canadian and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to First Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Trust when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Trust - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Trust Canadian to buy it.

Moving together with First Etf

  0.94XIU iShares SPTSX 60PairCorr
  0.93XIC iShares Core SPTSXPairCorr
  0.93ZCN BMO SPTSX CappedPairCorr
  0.93VCN Vanguard FTSE CanadaPairCorr
  0.93HXT Global X SPTSXPairCorr
  0.93HXCN Global X SPTSXPairCorr
  0.78NSCE NBI Sustainable CanadianPairCorr
  0.93QCN Mackenzie Canadian EquityPairCorr
  0.96WXM First Asset MorningstarPairCorr
  0.93TTP TD Canadian EquityPairCorr
  0.78DOLY Purpose Dollarama YieldPairCorr
  0.82LIFE Evolve Global HealthcarePairCorr
  0.86VEQT Vanguard All EquityPairCorr
  0.89RQO RBC Target 2026PairCorr
  0.85ZDM BMO MSCI EAFEPairCorr
  0.66ZEA BMO MSCI EAFEPairCorr
  0.69BGU Bristol Gate ConcentratedPairCorr
  0.76ZDY BMO Dividend ETFPairCorr
  0.91FCMI Fidelity Canadian MonthlyPairCorr
  0.92FLCD Franklin FTSE CanadaPairCorr
  0.9PXC Invesco RAFI CanadianPairCorr
  0.69FHH First Trust AlphaDEXPairCorr
  0.93QCE Mackenzie Canadian LargePairCorr
  0.72JEPQ JPMorgan Nasdaq EquityPairCorr
  0.9CIC CI Canadian BanksPairCorr
  0.89FHM First Trust NYSEPairCorr
  0.95FCUV Fidelity Value ETFPairCorr
  0.84FBAL Fidelity All inPairCorr
  0.89HEWB Global X EqualPairCorr
  0.64TILV TD Q InternationalPairCorr
  0.89HFU BetaPro SPTSX CappedPairCorr
  0.89HLIT Global X LithiumPairCorr

Moving against First Etf

  0.94HXD BetaPro SPTSX 60PairCorr
  0.74HUC Global X CrudePairCorr
  0.67HIU BetaPro SP 500PairCorr
  0.63HOU BetaPro Crude OilPairCorr
  0.6HQD BetaPro NASDAQ 100PairCorr
  0.54HED BetaPro SPTSX CappedPairCorr
  0.5HBLK Blockchain TechnologiesPairCorr

Related Correlations Analysis


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

GGRO
+ 0.98
GEQT
PDF
+ 0.96
PXC
FCVH
+ 0.92
PDF
FCVH
+ 0.91
PXC
FCVH
+ 0.91
DRFD
HAC
+ 0.83
GEQT
  

High negative correlations

HAC
- 0.33
XMW
FCVH
- 0.31
XMW
PXC
- 0.26
XMW
CGXF
- 0.2
XMW
DRFD
- 0.18
XMW
XMW
- 0.16
GEQT

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GEQT  0.59  0.03 (0.01) 0.13  0.79 
(0.57)
 0.98 
(1.33)
 3.59 
XMW  0.36 (0.02)(0.16)(0.05) 0.47 
(0.38)
 0.84 
(0.82)
 2.46 
PXC  0.46  0.09  0.06  0.48  0.39 
(0.50)
 1.07 
(0.92)
 2.91 
DRFD  0.50  0.03 (0.01) 0.13  0.46 
(0.69)
 1.25 
(0.86)
 3.36 
PDF  0.36  0.06  0.02  0.33  0.24 
(0.41)
 0.87 
(0.70)
 1.99 
CGXF  1.77  0.22  0.06  0.51  2.62 
(1.84)
 3.73 
(4.42)
 13.40 
FCVH  0.69  0.11  0.09  0.21  0.67 
(0.75)
 1.78 
(1.59)
 4.11 
XMI  0.38  0.02 (0.08) 0.22  0.47 
(0.42)
 0.93 
(0.78)
 3.10 
GGRO  0.53  0.02 (0.03) 0.11  0.74 
(0.52)
 0.94 
(1.25)
 3.24 
HAC  0.45  0.04 (0.02) 0.21  0.52 
(0.49)
 0.95 
(1.02)
 3.01 

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Trust without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Risk-Return Analysis Now

   

Risk-Return Analysis

View associations between returns expected from investment and the risk you assume
All  Next Launch Module
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
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY