First Trust Correlations

FTCS Etf

USD 96.76 0.56 0.58%

The current 90-days correlation between First Trust Capital and Alpha Architect 1 3 is 0.09 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Capital 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 Capital 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 Capital. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Etf

0.84	VTI	Vanguard Total Stock	Pair Corr
0.81	SPY	SPDR SP 500	Pair Corr
0.81	IVV	iShares Core SP	Pair Corr
0.9	VIG	Vanguard Dividend Sell-off Trend	Pair Corr
0.77	VV	Vanguard Large Cap	Pair Corr
0.97	RSP	Invesco SP 500	Pair Corr
0.82	IWB	iShares Russell 1000	Pair Corr
0.75	ESGU	iShares ESG Aware	Pair Corr
0.92	DFAC	Dimensional Core Equity	Pair Corr
0.9	MUU	Direxion Daily MU	Pair Corr
0.9	MULL	GraniteShares 2x Long	Pair Corr
0.91	GDXU	MicroSectors Gold Miners	Pair Corr
0.89	AGQ	ProShares Ultra Silver	Pair Corr
0.93	JNUG	Direxion Daily Junior	Pair Corr
0.87	KORU	Direxion Daily South	Pair Corr
0.93	NUGT	Direxion Daily Gold	Pair Corr
0.86	SHNY	Microsectors Gold	Pair Corr
0.91	GDMN	WisdomTree Efficient Gold	Pair Corr
0.94	SLVR	Sprott Silver Miners	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.68	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.69	CVX	Chevron Corp	Pair Corr
0.83	BA	Boeing Sell-off Trend	Pair Corr

Moving against First Etf

0.48	HPQ	HP Inc	Pair Corr
0.35	TRV	The Travelers Companies	Pair Corr
0.32	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	PRF	SCHH	IGF	VDC	SSO	DBEF	PBUS	FVD	VLUE	BOXX
PRF		0.6	0.79	0.84	0.84	0.95	0.88	0.93	0.99	0.95	PRF
SCHH	0.6		0.63	0.75	0.42	0.64	0.44	0.73	0.57	0.52	SCHH
IGF	0.79	0.63		0.83	0.62	0.75	0.65	0.88	0.81	0.78	IGF
VDC	0.84	0.75	0.83		0.54	0.8	0.58	0.93	0.84	0.84	VDC
SSO	0.84	0.42	0.62	0.54		0.79	1.0	0.66	0.81	0.69	SSO
DBEF	0.95	0.64	0.75	0.8	0.79		0.83	0.9	0.96	0.93	DBEF
PBUS	0.88	0.44	0.65	0.58	1.0	0.83		0.7	0.85	0.74	PBUS
FVD	0.93	0.73	0.88	0.93	0.66	0.9	0.7		0.92	0.92	FVD
VLUE	0.99	0.57	0.81	0.84	0.81	0.96	0.85	0.92		0.96	VLUE
BOXX	0.95	0.52	0.78	0.84	0.69	0.93	0.74	0.92	0.96		BOXX
	PRF	SCHH	IGF	VDC	SSO	DBEF	PBUS	FVD	VLUE	BOXX

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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
PRF	0.53	0.11	0.11	(2.75)	0.45	(0.59)	1.27	(1.08)	3.11
SCHH	0.53	0.04	0.00	(0.36)	0.67	(0.51)	1.25	(1.08)	3.28
IGF	0.46	0.10	0.13	2.62	0.27	(0.53)	0.95	(0.66)	2.21
VDC	0.55	0.00	0.21	0.00	0.25	(0.70)	1.29	(0.89)	3.18
SSO	1.05	0.02	(0.01)	0.13	1.57	(1.02)	1.96	(2.36)	7.20
DBEF	0.51	0.09	0.07	2.45	0.57	(0.53)	1.07	(1.14)	3.24
PBUS	0.54	0.01	(0.03)	0.14	0.78	(0.55)	0.99	(1.18)	3.63
FVD	0.42	0.11	0.13	(1.38)	0.28	(0.47)	1.10	(0.77)	2.33
VLUE	0.81	0.20	0.17	(1.73)	0.74	(0.96)	1.92	(1.55)	4.17
BOXX	0.01	0.01	(1.45)	(5.09)	0.00	(0.03)	0.05	(0.02)	0.08

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