First Trust Correlations

FTGG Etf

EUR 38.02 0.13 0.34%

The current 90-days correlation between First Trust Global and Lyxor DivDAX UCITS is 0.52 (i.e., Very weak 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

Almost no diversification

The correlation between First Trust Global and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Global and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to First Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Trust when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Trust - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Trust Global to buy it.

Moving together with First Etf

0.88	EXS1	iShares Core DAX	Pair Corr
0.87	EL4F	Deka DAX UCITS	Pair Corr
0.96	EL4X	Deka DAXplus Maximum	Pair Corr
0.88	CG1G	AMUNDI ETF DAX	Pair Corr
0.91	C006	Lyxor FAZ 100	Pair Corr
0.72	C003	Lyxor DivDAX UCITS	Pair Corr
0.93	VGER	Vanguard Funds Public	Pair Corr
0.89	ELF0	Deka DAX ex	Pair Corr
0.93	E903	Lyxor 1	Pair Corr
0.93	LYBK	Lyxor UCITS Stoxx	Pair Corr
0.93	EXX1	iShares EURO STOXX	Pair Corr
0.91	EXX1	iShares EURO STOXX	Pair Corr
0.93	S7XE	Invesco EURO STOXX	Pair Corr
0.96	EXV1	iShares STOXX Europe	Pair Corr
0.94	SC0U	Invesco Markets plc	Pair Corr
0.93	AMEE	Amundi ETF MSCI	Pair Corr
0.9	ETLX	LG Gold Mining	Pair Corr
0.89	UBUD	UBS ETF Public	Pair Corr
0.91	ETLX	LG Gold Mining	Pair Corr
0.88	LM9E	BNP Paribas Easy	Pair Corr
0.85	IUS2	iShares SP Banks	Pair Corr
0.9	WGES	Amundi MSCI World	Pair Corr
0.98	ETSZ	Easy ETF	Pair Corr
0.92	T3MP	JPMorgan ETFs ICAV	Pair Corr
0.83	S0LR	Invesco Solar Energy	Pair Corr
0.86	EGV3	MULTI UNITS LUXEMBOURG	Pair Corr
0.95	DBX8	Xtrackers MSCI	Pair Corr
0.97	DBX4	Xtrackers MSCI	Pair Corr
0.98	VALD	BNP Paribas Easy	Pair Corr
0.87	SPYY	SSgA SPDR ETFs	Pair Corr
0.98	DX2X	Xtrackers Stoxx	Pair Corr
0.98	EMNE	iShares MSCI EMU	Pair Corr
0.96	VGEK	Vanguard FTSE Developed	Pair Corr

Related Correlations Analysis

	EXS1	EL4X	CG1G	C003	FTGG
EXS1		0.84	1.0	0.52	0.88	EXS1
EL4X	0.84		0.84	0.81	0.96	EL4X
CG1G	1.0	0.84		0.52	0.88	CG1G
C003	0.52	0.81	0.52		0.72	C003
FTGG	0.88	0.96	0.88	0.72		FTGG
	EXS1	EL4X	CG1G	C003	FTGG

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
EXS1	0.56	0.05	0.01	0.19	0.70	(0.56)	1.25	(1.55)	3.41
EL4X	0.55	0.14	0.11	0.91	0.59	(0.59)	1.39	(1.34)	4.38
CG1G	0.56	0.05	0.01	0.20	0.70	(0.60)	1.15	(1.35)	3.40
C003	0.65	0.08	0.02	0.59	0.95	(0.67)	1.19	(1.34)	5.61
FTGG	0.70	0.19	0.18	0.54	0.61	(0.88)	1.61	(1.48)	4.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Trust without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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