First Trust Correlations

FSZ Etf

USD 82.85 0.96 1.15%

The current 90-days correlation between First Trust Switzerland and SP Funds Trust is 0.16 (i.e., Average 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

Very poor diversification

The correlation between First Trust Switzerland and DJI is 0.86 (i.e., Very poor 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 real.

Moving together with First Etf

0.9	BBCA	JPMorgan BetaBuilders	Pair Corr
0.92	EWC	iShares MSCI Canada	Pair Corr
0.94	EWU	iShares MSCI United	Pair Corr
0.84	EWY	iShares MSCI South	Pair Corr
0.73	EWA	iShares MSCI Australia	Pair Corr
0.91	EWL	iShares MSCI Switzerland	Pair Corr
0.92	EWG	iShares MSCI Germany	Pair Corr
0.89	EWQ	iShares MSCI France	Pair Corr
0.89	EWW	iShares MSCI Mexico	Pair Corr
0.88	ARP	Advisors Inner Circle	Pair Corr
0.84	PXMV	Invesco SP MidCap	Pair Corr
0.87	IGA	Voya Global Advantage	Pair Corr
0.78	FMF	First Trust Managed	Pair Corr
0.89	FLXR	TCW ETF Trust	Pair Corr
0.73	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.73	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.8	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.7	CAT	Caterpillar	Pair Corr
0.86	BA	Boeing Sell-off Trend	Pair Corr
0.91	AA	Alcoa Corp	Pair Corr

Moving against First Etf

0.7	ENTR	EntrepreneurShares	Pair Corr
0.7	T	ATT Inc Earnings Call This Week	Pair Corr
0.43	MMM	3M Company	Pair Corr

Related Correlations Analysis

	EUDG	FSZ	BETZ	FLMX	CVMC	RCGE	ICOP	YDEC	CSD	SPWO
EUDG		0.94	-0.01	0.92	0.93	0.98	0.96	0.96	0.94	0.87	EUDG
FSZ	0.94		0.0	0.88	0.89	0.94	0.93	0.9	0.84	0.85	FSZ
BETZ	-0.01	0.0		-0.27	0.02	0.11	-0.18	-0.21	-0.13	-0.18	BETZ
FLMX	0.92	0.88	-0.27		0.89	0.88	0.97	0.95	0.9	0.87	FLMX
CVMC	0.93	0.89	0.02	0.89		0.94	0.93	0.9	0.94	0.88	CVMC
RCGE	0.98	0.94	0.11	0.88	0.94		0.93	0.93	0.92	0.87	RCGE
ICOP	0.96	0.93	-0.18	0.97	0.93	0.93		0.98	0.94	0.9	ICOP
YDEC	0.96	0.9	-0.21	0.95	0.9	0.93	0.98		0.95	0.92	YDEC
CSD	0.94	0.84	-0.13	0.9	0.94	0.92	0.94	0.95		0.91	CSD
SPWO	0.87	0.85	-0.18	0.87	0.88	0.87	0.9	0.92	0.91		SPWO
	EUDG	FSZ	BETZ	FLMX	CVMC	RCGE	ICOP	YDEC	CSD	SPWO

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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

RCGE	+ 0.98	EUDG
YDEC	+ 0.98	ICOP
ICOP	+ 0.97	FLMX
ICOP	+ 0.96	EUDG
YDEC	+ 0.96	EUDG
YDEC	+ 0.95	FLMX

High negative correlations

FLMX	- 0.27	BETZ
YDEC	- 0.21	BETZ
SPWO	- 0.18	BETZ
ICOP	- 0.18	BETZ
CSD	- 0.13	BETZ
BETZ	- 0.01	EUDG

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
EUDG	0.63	0.10	0.11	0.19	0.60	(0.71)	1.46	(1.09)	3.32
FSZ	0.59	0.08	0.05	0.48	0.63	(0.64)	1.30	(1.20)	3.41
BETZ	0.91	(0.23)	0.00	(0.18)	0.00	0.00	1.72	(1.94)	5.66
FLMX	0.83	0.29	0.30	1.00	0.45	(1.05)	1.99	(1.35)	4.21
CVMC	0.65	0.06	0.02	0.35	0.74	(0.67)	1.57	(1.27)	3.87
RCGE	0.50	0.03	0.02	0.10	0.53	(0.52)	1.02	(1.08)	3.14
ICOP	1.47	0.58	0.30	1.70	1.36	(1.76)	3.07	(2.63)	7.15
YDEC	0.16	0.04	0.00	0.32	0.00	(0.21)	0.45	(0.23)	1.47
CSD	1.18	0.11	0.09	0.12	1.37	(1.24)	2.72	(2.50)	6.73
SPWO	0.74	0.09	0.09	0.16	0.83	(0.84)	1.55	(1.72)	4.34

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