First Trust Correlations

FSZ Etf

USD 85.87 0.18 0.21%

The current 90-days correlation between First Trust Switzerland and iShares MSCI All is 0.47 (i.e., Very weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust Switzerland and DJI is 0.9 (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 Switzerland 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 Switzerland. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.93	BBCA	JPMorgan BetaBuilders	Pair Corr
0.92	EWC	iShares MSCI Canada	Pair Corr
0.98	EWU	iShares MSCI United	Pair Corr
0.93	EWY	iShares MSCI South	Pair Corr
0.95	EWA	iShares MSCI Australia	Pair Corr
0.99	EWL	iShares MSCI Switzerland	Pair Corr
0.93	EWG	iShares MSCI Germany	Pair Corr
0.61	KSA	iShares MSCI Saudi	Pair Corr
0.95	EWQ	iShares MSCI France	Pair Corr
0.95	EWW	iShares MSCI Mexico	Pair Corr
0.82	ITWO	Proshares Russell 2000	Pair Corr
0.7	AMPD	Tidal ETF Services	Pair Corr
0.71	ELON	Battleshares TSLA	Pair Corr
0.92	CPST	Calamos ETF Trust	Pair Corr
0.95	TAXT	Northern Trust Tax	Pair Corr
0.97	WLDR	Affinity World Leaders	Pair Corr
0.91	XYLD	Global X SP	Pair Corr
0.87	LSEQ	Harbor ETF Trust	Pair Corr
0.83	DOGG	First Trust Exchange	Pair Corr
0.98	EURL	Direxion Daily FTSE	Pair Corr
0.95	PCEM	Litman Gregory Funds	Pair Corr
0.95	BSMS	Invesco BulletShares 2028	Pair Corr
0.94	REGL	ProShares SP MidCap	Pair Corr
0.85	JANW	AIM ETF Products	Pair Corr
0.96	JEPI	JPMorgan Equity Premium	Pair Corr
0.95	IQSZ	Invesco Actively Managed	Pair Corr
0.82	PSFD	Pacer Swan SOS	Pair Corr
0.85	XFIX	Fm Investments Symbol Change	Pair Corr
0.91	QLV	FlexShares Quality Low	Pair Corr
0.94	EWT	iShares MSCI Taiwan	Pair Corr
0.96	IRTR	iShares Trust	Pair Corr
0.97	GENW	Spinnaker ETF Series	Pair Corr
0.95	DFSD	Dimensional ETF Trust	Pair Corr
0.92	GAPR	First Trust Exchange	Pair Corr
0.94	UDI	USCF ETF Trust	Pair Corr
0.94	NBCE	Neuberger Berman ETF	Pair Corr
0.92	UMAY	Innovator ETFs Trust	Pair Corr
0.97	FNDC	Schwab Fundamental	Pair Corr

Moving against First Etf

0.8

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	IMTM	IYH	IMCG	ITB	ACWV	IYF	XT	CGDG	AAXJ
IMTM		0.41	0.88	0.74	0.85	0.37	0.92	0.97	0.96	IMTM
IYH	0.41		0.57	0.39	0.33	0.46	0.5	0.47	0.38	IYH
IMCG	0.88	0.57		0.71	0.64	0.52	0.96	0.87	0.82	IMCG
ITB	0.74	0.39	0.71		0.79	0.06	0.63	0.82	0.75	ITB
ACWV	0.85	0.33	0.64	0.79		0.0	0.65	0.9	0.87	ACWV
IYF	0.37	0.46	0.52	0.06	0.0		0.56	0.33	0.17	IYF
XT	0.92	0.5	0.96	0.63	0.65	0.56		0.88	0.85	XT
CGDG	0.97	0.47	0.87	0.82	0.9	0.33	0.88		0.94	CGDG
AAXJ	0.96	0.38	0.82	0.75	0.87	0.17	0.85	0.94		AAXJ
	IMTM	IYH	IMCG	ITB	ACWV	IYF	XT	CGDG	AAXJ

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

CGDG	+ 0.97	IMTM
AAXJ	+ 0.96	IMTM
XT	+ 0.96	IMCG
AAXJ	+ 0.94	CGDG
XT	+ 0.92	IMTM
CGDG	+ 0.9	ACWV

High negative correlations

IYF

- 0.0

ACWV

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
IMTM	0.68	0.12	0.11	0.22	0.69	(0.71)	1.75	(1.20)	4.42
IYH	0.70	(0.01)	(0.04)	0.06	0.65	(0.90)	1.82	(1.27)	3.69
IMCG	0.73	(0.01)	(0.01)	0.06	0.84	(0.74)	1.45	(1.78)	5.03
ITB	1.35	0.12	0.11	0.16	1.08	(1.79)	4.22	(2.13)	8.51
ACWV	0.33	0.02	(0.06)	0.13	0.30	(0.37)	0.80	(0.62)	1.82
IYF	0.72	(0.05)	(0.05)	0.02	0.94	(0.75)	1.28	(1.62)	4.64
XT	0.70	0.02	0.01	0.09	0.88	(0.72)	1.25	(1.46)	3.89
CGDG	0.53	0.06	0.05	0.15	0.53	(0.57)	0.90	(0.97)	3.15
AAXJ	0.72	0.15	0.17	0.29	0.58	(0.88)	1.90	(1.26)	5.05

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