First Trust Correlations
FTA Etf | USD 79.17 0.20 0.25% |
The current 90-days correlation between First Trust Large and First Trust Large is 0.61 (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
Weak diversification
The correlation between First Trust Large and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Large and DJI in the same portfolio, assuming nothing else is changed.
First |
Moving together with First Etf
0.97 | VTV | Vanguard Value Index Sell-off Trend | PairCorr |
0.87 | VYM | Vanguard High Dividend | PairCorr |
0.98 | IWD | iShares Russell 1000 Sell-off Trend | PairCorr |
0.94 | DGRO | iShares Core Dividend | PairCorr |
0.96 | IVE | iShares SP 500 | PairCorr |
0.97 | DVY | iShares Select Dividend | PairCorr |
0.96 | SPYV | SPDR Portfolio SP Sell-off Trend | PairCorr |
0.92 | FVD | First Trust Value | PairCorr |
0.96 | IUSV | iShares Core SP | PairCorr |
0.9 | NOBL | ProShares SP 500 | PairCorr |
0.74 | SHLD | Global X Funds | PairCorr |
0.82 | HUM | Humana Inc | PairCorr |
0.77 | SWP | SWP Growth Income | PairCorr |
0.69 | DUKH | Ocean Park High | PairCorr |
0.64 | SMI | VanEck Vectors ETF | PairCorr |
0.88 | TRV | The Travelers Companies | PairCorr |
0.87 | CAT | Caterpillar Earnings Call This Week | PairCorr |
0.75 | HD | Home Depot | PairCorr |
0.77 | XOM | Exxon Mobil Corp Earnings Call This Week | PairCorr |
0.83 | CVX | Chevron Corp Earnings Call This Week | PairCorr |
0.7 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
Moving against First Etf
Related Correlations Analysis
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
FTC | 0.84 | 0.11 | 0.05 | 0.31 | 1.09 | 1.75 | 6.79 | |||
FEX | 0.63 | 0.05 | 0.01 | 0.18 | 0.73 | 1.36 | 6.39 | |||
FYX | 0.89 | 0.05 | 0.02 | 0.17 | 1.08 | 1.99 | 10.87 | |||
FNX | 0.76 | 0.03 | 0.00 | 0.14 | 0.91 | 1.59 | 8.31 | |||
FAB | 0.73 | 0.01 | (0.03) | 0.11 | 0.78 | 1.34 | 7.90 |