First Trust Correlations

FTA Etf

USD 89.84 0.46 0.51%

The current 90-days correlation between First Trust Large and VictoryShares Small Mid is -0.14 (i.e., Good 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

Poor diversification

The correlation between First Trust Large and DJI is 0.73 (i.e., Poor 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.

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 Large. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with First Etf

0.99	VOE	Vanguard Mid Cap	Pair Corr
0.95	SDY	SPDR SP Dividend	Pair Corr
0.82	DVY	iShares Select Dividend	Pair Corr
0.98	IWS	iShares Russell Mid	Pair Corr
0.95	FVD	First Trust Value	Pair Corr
0.87	SPYD	SPDR Portfolio SP	Pair Corr
0.99	COWZ	Pacer Cash Cows Sell-off Trend	Pair Corr
0.98	IJJ	iShares SP Mid	Pair Corr
0.98	DON	WisdomTree MidCap	Pair Corr
0.99	RPV	Invesco SP 500	Pair Corr
0.82	MUU	Direxion Daily MU	Pair Corr
0.82	MULL	GraniteShares 2x Long	Pair Corr
0.9	GDXU	MicroSectors Gold Miners	Pair Corr
0.87	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.92	JNUG	Direxion Daily Junior	Pair Corr
0.77	KORU	Direxion Daily South	Pair Corr
0.92	NUGT	Direxion Daily Gold	Pair Corr
0.81	SHNY	Microsectors Gold Trending	Pair Corr
0.9	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.94	SLVR	Sprott Silver Miners	Pair Corr
0.87	FLXR	TCW ETF Trust	Pair Corr
0.81	BA	Boeing	Pair Corr
0.68	WMT	Walmart Common Stock	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr

Moving against First Etf

0.44

HPQ

HP Inc

Pair Corr

Related Correlations Analysis

	FNX	FTC	FEX	FYX	VFMO	IVOV	IGRO	GEM	PWV	USVM
FNX		0.87	0.99	0.99	0.96	0.99	0.93	0.83	0.87	0.8	FNX
FTC	0.87		0.91	0.84	0.93	0.83	0.78	0.77	0.69	0.67	FTC
FEX	0.99	0.91		0.98	0.96	0.98	0.95	0.86	0.9	0.77	FEX
FYX	0.99	0.84	0.98		0.93	0.99	0.93	0.8	0.87	0.79	FYX
VFMO	0.96	0.93	0.96	0.93		0.92	0.89	0.89	0.77	0.72	VFMO
IVOV	0.99	0.83	0.98	0.99	0.92		0.93	0.78	0.9	0.81	IVOV
IGRO	0.93	0.78	0.95	0.93	0.89	0.93		0.9	0.94	0.7	IGRO
GEM	0.83	0.77	0.86	0.8	0.89	0.78	0.9		0.77	0.55	GEM
PWV	0.87	0.69	0.9	0.87	0.77	0.9	0.94	0.77		0.66	PWV
USVM	0.8	0.67	0.77	0.79	0.72	0.81	0.7	0.55	0.66		USVM
	FNX	FTC	FEX	FYX	VFMO	IVOV	IGRO	GEM	PWV	USVM

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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
FNX	0.79	0.13	0.07	(1.40)	0.76	(0.87)	1.79	(1.47)	3.88
FTC	0.88	0.01	(0.03)	0.15	1.26	(0.84)	1.43	(2.34)	5.19
FEX	0.62	0.10	0.05	(1.60)	0.72	(0.64)	1.25	(1.29)	3.05
FYX	0.87	0.18	0.12	(0.94)	0.80	(1.03)	2.06	(1.57)	4.79
VFMO	1.08	0.09	0.03	0.79	1.48	(1.14)	1.79	(2.51)	5.91
IVOV	0.72	0.13	0.09	(0.80)	0.64	(0.85)	1.80	(1.31)	4.32
IGRO	0.50	0.13	0.14	1.05	0.40	(0.56)	0.93	(0.87)	2.76
GEM	0.66	0.16	0.15	3.81	0.50	(0.80)	1.45	(0.95)	3.27
PWV	0.46	0.09	0.08	10.37	0.38	(0.56)	1.09	(1.01)	2.30
USVM	0.67	0.05	0.06	0.10	0.66	(0.76)	1.63	(1.41)	3.72

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