First Trust Correlations

Etfs . USA . 
Etf . First Trust Large
FTA Etf  USD 82.72  0.75  0.91%   
The current 90-days correlation between First Trust Large and First Trust Large is 0.74 (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

Very poor diversification

The correlation between First Trust Large and DJI is 0.89 (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 Large 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 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 estimate.

Moving together with First Etf

  0.96VTV Vanguard Value IndexPairCorr
  0.96VYM Vanguard High DividendPairCorr
  0.98IWD iShares Russell 1000PairCorr
  0.93DGRO iShares Core DividendPairCorr
  0.97IVE iShares SP 500PairCorr
  0.97DVY iShares Select DividendPairCorr
  0.97SPYV SPDR Portfolio SPPairCorr
  0.91FVD First Trust ValuePairCorr
  0.98IUSV iShares Core SPPairCorr
  0.74NOBL ProShares SP 500PairCorr
  0.84DIG ProShares Ultra OilPairCorr
  0.75MLPR ETRACS Quarterly PayPairCorr
  0.7USD ProShares Ultra SemiPairCorr
  0.77YCS ProShares UltraShort YenPairCorr
  0.76TBT ProShares UltraShortPairCorr
  0.89ATMP Barclays ETN SelectPairCorr
  0.82AMZA InfraCap MLP ETFPairCorr
  0.75HD Home DepotPairCorr
  0.78CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.74TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.87BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.73XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.86INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.88CSCO Cisco Systems Aggressive PushPairCorr
  0.83DIS Walt Disney Aggressive PushPairCorr
  0.8JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.86AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Moving against First Etf

  0.59NRGU Bank Of MontrealPairCorr
  0.72JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.69BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.67KO Coca Cola Aggressive PushPairCorr

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.

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