First Trust Correlations

FTGS Etf

USD 35.89 0.75 2.13%

The current 90-days correlation between First Trust Growth and WisdomTree 9060 Balanced is 0.02 (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 Growth and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Growth 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 Growth. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with First Etf

0.83	VTI	Vanguard Total Stock	Pair Corr
0.82	SPY	SPDR SP 500	Pair Corr
0.82	IVV	iShares Core SP	Pair Corr
0.82	VV	Vanguard Large Cap	Pair Corr
0.84	IWB	iShares Russell 1000	Pair Corr
0.82	ESGU	iShares ESG Aware	Pair Corr
0.7	DFAC	Dimensional Core Equity	Pair Corr
0.63	SMH	VanEck Semiconductor ETF	Pair Corr
0.61	QLD	ProShares Ultra QQQ	Pair Corr
0.81	UPRO	ProShares UltraPro SP500	Pair Corr
0.81	SPXL	Direxion Daily SP500	Pair Corr
0.88	NJUL	Innovator Nasdaq 100	Pair Corr
0.79	NAPR	Innovator Nasdaq 100	Pair Corr
0.84	BDEC	Innovator SP 500	Pair Corr
0.75	QTAP	Innovator Growth 100	Pair Corr
0.78	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.89	PDEC	Innovator SP 500	Pair Corr

Moving against First Etf

0.45

ENTR

EntrepreneurShares

Pair Corr

Related Correlations Analysis

	VTWG	QQQE	EQTY	QDPL	IYK	SPGM	EWL	EPS	INFL	NTSX
VTWG		0.86	0.87	0.87	0.3	0.82	0.61	0.75	0.67	0.79	VTWG
QQQE	0.86		0.8	0.89	-0.03	0.63	0.39	0.72	0.39	0.87	QQQE
EQTY	0.87	0.8		0.85	0.26	0.79	0.63	0.9	0.62	0.73	EQTY
QDPL	0.87	0.89	0.85		0.25	0.83	0.63	0.86	0.56	0.94	QDPL
IYK	0.3	-0.03	0.26	0.25		0.7	0.83	0.32	0.85	0.14	IYK
SPGM	0.82	0.63	0.79	0.83	0.7		0.93	0.81	0.91	0.73	SPGM
EWL	0.61	0.39	0.63	0.63	0.83	0.93		0.66	0.9	0.53	EWL
EPS	0.75	0.72	0.9	0.86	0.32	0.81	0.66		0.6	0.8	EPS
INFL	0.67	0.39	0.62	0.56	0.85	0.91	0.9	0.6		0.43	INFL
NTSX	0.79	0.87	0.73	0.94	0.14	0.73	0.53	0.8	0.43		NTSX
	VTWG	QQQE	EQTY	QDPL	IYK	SPGM	EWL	EPS	INFL	NTSX

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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

NTSX	+ 0.94	QDPL
EWL	+ 0.93	SPGM
INFL	+ 0.91	SPGM
EPS	+ 0.9	EQTY
INFL	+ 0.9	EWL
QDPL	+ 0.89	QQQE

High negative correlations

IYK

- 0.03

QQQE

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
VTWG	1.04	0.02	0.04	0.11	1.10	(1.08)	1.93	(1.93)	6.76
QQQE	0.72	(0.03)	(0.04)	0.06	0.82	(0.78)	1.56	(1.46)	3.76
EQTY	0.62	0.09	(0.02)	(0.48)	0.69	(0.65)	1.28	(1.47)	4.76
QDPL	0.53	(0.02)	(0.06)	0.07	0.70	(0.56)	1.66	(1.26)	3.56
IYK	0.65	0.19	0.16	3.35	0.41	(0.77)	1.48	(0.98)	3.51
SPGM	0.54	0.05	0.04	0.16	0.59	(0.56)	1.05	(1.28)	3.65
EWL	0.59	0.16	0.16	0.45	0.36	(0.73)	1.54	(0.76)	4.68
EPS	0.54	0.05	(0.07)	(0.25)	0.72	(0.51)	1.17	(1.30)	3.24
INFL	0.86	0.24	0.14	0.44	1.12	(0.89)	1.87	(2.05)	5.90
NTSX	0.54	(0.02)	(0.05)	0.06	0.66	(0.58)	1.07	(1.10)	3.78

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