First Trust Correlations

FTC Etf

USD 164.54 0.83 0.50%

The current 90-days correlation between First Trust Large and Kovitz Core Equity is 0.72 (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

Poor diversification

The correlation between First Trust Large and DJI is 0.79 (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 real.

Moving together with First Etf

0.64	VUG	Vanguard Growth Index	Pair Corr
0.82	IVW	iShares SP 500	Pair Corr
0.81	SPYG	SPDR Portfolio SP	Pair Corr
0.86	IUSG	iShares Core SP	Pair Corr
0.85	QQQM	Invesco NASDAQ 100	Pair Corr
0.62	MUU	Direxion Daily MU Trending	Pair Corr
0.62	MULL	GraniteShares 2x Long Trending	Pair Corr
0.67	KORU	Direxion Daily South	Pair Corr
0.63	TPHD	Timothy Plan High	Pair Corr
0.75	IEMG	iShares Core MSCI	Pair Corr
0.73	VEA	Vanguard FTSE Developed	Pair Corr
0.65	INTC	Intel Earnings Call This Week	Pair Corr
0.72	DIS	Walt Disney	Pair Corr
0.77	BA	Boeing Earnings Call This Week	Pair Corr
0.63	AA	Alcoa Corp	Pair Corr

Moving against First Etf

0.48	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.31	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	FEX	FTA	FNX	FXL	QDPL	PDP	FYX	VTWG	NTSX	EQTY
FEX		0.94	0.98	0.7	0.9	0.8	0.97	0.93	0.78	0.98	FEX
FTA	0.94		0.92	0.44	0.79	0.54	0.95	0.79	0.61	0.95	FTA
FNX	0.98	0.92		0.69	0.85	0.8	0.99	0.96	0.73	0.97	FNX
FXL	0.7	0.44	0.69		0.78	0.92	0.64	0.82	0.82	0.63	FXL
QDPL	0.9	0.79	0.85	0.78		0.78	0.84	0.84	0.93	0.87	QDPL
PDP	0.8	0.54	0.8	0.92	0.78		0.73	0.92	0.79	0.72	PDP
FYX	0.97	0.95	0.99	0.64	0.84	0.73		0.93	0.69	0.98	FYX
VTWG	0.93	0.79	0.96	0.82	0.84	0.92	0.93		0.77	0.9	VTWG
NTSX	0.78	0.61	0.73	0.82	0.93	0.79	0.69	0.77		0.75	NTSX
EQTY	0.98	0.95	0.97	0.63	0.87	0.72	0.98	0.9	0.75		EQTY
	FEX	FTA	FNX	FXL	QDPL	PDP	FYX	VTWG	NTSX	EQTY

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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
FEX	0.66	0.02	0.01	0.09	0.76	(0.68)	1.25	(1.29)	3.09
FTA	0.57	0.07	0.08	0.16	0.44	(0.62)	1.50	(1.06)	3.31
FNX	0.82	0.02	0.03	0.08	0.84	(0.89)	1.79	(1.47)	3.88
FXL	1.05	(0.05)	(0.02)	0.03	1.48	(0.99)	1.90	(2.77)	5.29
QDPL	0.53	(0.01)	(0.04)	0.06	0.71	(0.53)	1.47	(1.35)	3.55
PDP	1.24	(0.05)	(0.01)	0.03	1.69	(1.19)	2.01	(2.65)	6.72
FYX	0.89	0.05	0.07	0.11	0.87	(1.00)	2.06	(1.57)	4.45
VTWG	1.06	(0.02)	0.01	0.06	1.38	(1.03)	1.90	(2.13)	5.53
NTSX	0.55	(0.04)	(0.07)	0.01	0.71	(0.59)	1.13	(1.10)	3.78
EQTY	0.65	0.02	0.03	0.09	0.74	(0.67)	1.28	(1.62)	4.76

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