First Trust Correlations

FTC Etf

USD 164.27 0.67 0.41%

The current 90-days correlation between First Trust Large and iShares Russell 1000 is 0.87 (i.e., Very 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 0.86 (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 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

0.66	IVW	iShares SP 500	Pair Corr
0.65	SPYG	SPDR Portfolio SP	Pair Corr
0.74	IUSG	iShares Core SP	Pair Corr
0.74	QQQM	Invesco NASDAQ 100	Pair Corr
0.66	MUU	Direxion Daily MU	Pair Corr
0.66	MULL	GraniteShares 2x Long	Pair Corr
0.76	GDXU	MicroSectors Gold Miners	Pair Corr
0.79	JNUG	Direxion Daily Junior	Pair Corr
0.77	NUGT	Direxion Daily Gold	Pair Corr
0.68	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.65	SHNY	Microsectors Gold	Pair Corr
0.7	SPVM	Invesco SP 500	Pair Corr
0.65	IAUM	iShares Gold Trust	Pair Corr
0.72	NBCE	Neuberger Berman ETF	Pair Corr
0.74	DBA	Invesco DB Agriculture	Pair Corr
0.67	CCNR	CoreCommodity Natural	Pair Corr
0.85	WDNA	WisdomTree BioRevolution	Pair Corr
0.77	NULV	Nuveen ESG Large	Pair Corr
0.67	PCEM	Litman Gregory Funds	Pair Corr
0.87	XYLD	Global X SP	Pair Corr
0.68	FIDU	Fidelity MSCI Industrials	Pair Corr
0.87	TLCI	Touchstone ETF Trust	Pair Corr
0.74	CHPS	Xtrackers Semiconductor	Pair Corr
0.87	UMAY	Innovator ETFs Trust	Pair Corr

Related Correlations Analysis

	VSGIX	VBK	IVE	VOT	VDIGX	IWR	VMGIX	IWB
VSGIX		1.0	0.84	0.37	0.86	0.93	0.37	0.9	VSGIX
VBK	1.0		0.84	0.37	0.86	0.93	0.36	0.9	VBK
IVE	0.84	0.84		-0.05	0.9	0.97	-0.06	0.8	IVE
VOT	0.37	0.37	-0.05		0.25	0.08	1.0	0.5	VOT
VDIGX	0.86	0.86	0.9	0.25		0.9	0.25	0.9	VDIGX
IWR	0.93	0.93	0.97	0.08	0.9		0.07	0.83	IWR
VMGIX	0.37	0.36	-0.06	1.0	0.25	0.07		0.49	VMGIX
IWB	0.9	0.9	0.8	0.5	0.9	0.83	0.49		IWB
	VSGIX	VBK	IVE	VOT	VDIGX	IWR	VMGIX	IWB

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

VBK	+ 1.0	VSGIX
VMGIX	+ 1.0	VOT
IWR	+ 0.97	IVE
IWR	+ 0.93	VSGIX
IWR	+ 0.93	VBK
IWB	+ 0.9	VSGIX

High negative correlations

VMGIX	- 0.06	IVE
VOT	- 0.05	IVE

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
VSGIX	0.95	0.06	0.06	0.12	0.93	(1.07)	2.00	(1.86)	6.42
VBK	0.93	0.06	0.06	0.12	0.93	(1.05)	1.97	(1.88)	6.32
IVE	0.50	0.03	0.02	0.11	0.50	(0.57)	1.05	(1.06)	3.06
VOT	0.75	(0.10)	0.00	(0.02)	0.00	0.00	1.40	(1.87)	4.76
VDIGX	0.48	0.01	(0.03)	0.08	0.48	(0.51)	1.12	(0.84)	3.27
IWR	0.64	0.06	0.07	0.13	0.60	(0.69)	1.61	(1.52)	4.18
VMGIX	0.76	(0.10)	0.00	(0.02)	0.00	0.00	1.40	(1.89)	4.96
IWB	0.55	(0.02)	(0.04)	0.05	0.72	(0.56)	1.06	(1.27)	3.61

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