First Trust Correlations

FSZ Etf

USD 65.15 0.79 1.23%

The current 90-days correlation between First Trust Switzerland and iShares MSCI Hong is 0.37 (i.e., 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

Weak diversification

The correlation between First Trust Switzerland and DJI is 0.31 (i.e., Weak 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.

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 state.

Moving together with First Etf

0.91	EWU	iShares MSCI United	Pair Corr
0.87	EWY	iShares MSCI South	Pair Corr
0.91	EWL	iShares MSCI Switzerland	Pair Corr
0.87	EWG	iShares MSCI Germany	Pair Corr
0.94	EWQ	iShares MSCI France	Pair Corr
0.82	EWW	iShares MSCI Mexico	Pair Corr
0.66	BND	Vanguard Total Bond	Pair Corr
0.94	VEA	Vanguard FTSE Developed	Pair Corr
0.67	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against First Etf

0.56	VB	Vanguard Small Cap	Pair Corr
0.52	VUG	Vanguard Growth Index	Pair Corr
0.52	VO	Vanguard Mid Cap	Pair Corr
0.49	VTI	Vanguard Total Stock	Pair Corr
0.45	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.45	IVV	iShares Core SP	Pair Corr
0.34	BBCA	JPMorgan BetaBuilders	Pair Corr
0.33	VTV	Vanguard Value Index	Pair Corr
0.31	EWC	iShares MSCI Canada Sell-off Trend	Pair Corr
0.79	BAC	Bank of America Aggressive Push	Pair Corr
0.73	DIS	Walt Disney Aggressive Push	Pair Corr
0.67	WMT	Walmart Aggressive Push	Pair Corr
0.64	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.6	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.54	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.52	T	ATT Inc Sell-off Trend	Pair Corr
0.51	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.4	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Related Correlations Analysis

	EWH	444859BR2	SCRYY	AQUI	BRRAY	MSTSX	ABHYX	LBHIX
EWH		-0.52	0.26	0.0	-0.5	0.87	0.39	0.66	EWH
444859BR2	-0.52		-0.42	0.0	0.35	-0.55	-0.1	-0.62	444859BR2
SCRYY	0.26	-0.42		0.0	-0.17	0.35	0.23	0.45	SCRYY
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.5	0.35	-0.17	0.0		-0.49	-0.41	-0.41	BRRAY
MSTSX	0.87	-0.55	0.35	0.0	-0.49		0.29	0.69	MSTSX
ABHYX	0.39	-0.1	0.23	0.0	-0.41	0.29		0.59	ABHYX
LBHIX	0.66	-0.62	0.45	0.0	-0.41	0.69	0.59		LBHIX
	EWH	444859BR2	SCRYY	AQUI	BRRAY	MSTSX	ABHYX	LBHIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

MSTSX	+ 0.87	EWH
LBHIX	+ 0.69	MSTSX
LBHIX	+ 0.66	EWH
LBHIX	+ 0.59	ABHYX
LBHIX	+ 0.45	SCRYY
ABHYX	+ 0.39	EWH

High negative correlations

LBHIX	- 0.62	444859BR2
MSTSX	- 0.55	444859BR2
444859BR2	- 0.52	EWH
BRRAY	- 0.5	EWH
MSTSX	- 0.49	BRRAY
SCRYY	- 0.42	444859BR2

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
EWH	1.39	0.07	0.00	0.29	1.98	(1.41)	3.15	(2.67)	12.79
444859BR2	1.31	(0.16)	0.00	(0.06)	0.00	0.00	5.93	(4.56)	16.62
SCRYY	2.13	0.29	0.09	1.06	2.03	(2.95)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.10)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.48	(0.04)	(0.13)	0.06	0.50	(0.59)	1.21	(1.02)	2.80
ABHYX	0.17	0.02	(0.25)	(0.03)	0.26	(0.23)	0.34	(0.33)	1.91
LBHIX	0.11	0.01	(0.41)	0.46	0.00	(0.29)	0.24	(0.24)	0.96

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

2024 Macroaxis LLC