First Trust Correlations

FTHI Etf

USD 24.03 0.08 0.33%

The current 90-days correlation between First Trust BuyWrite and Duff And Phelps is 0.17 (i.e., Average 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 BuyWrite and DJI is 0.95 (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 BuyWrite 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 BuyWrite. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with First Etf

0.93	JEPI	JPMorgan Equity Premium	Pair Corr
0.93	XYLD	Global X SP	Pair Corr
0.74	DIVO	Amplify CWP Enhanced	Pair Corr
0.95	RYLD	Global X Russell	Pair Corr
0.95	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.82	KNG	FT Cboe Vest	Pair Corr
0.93	BUYW	Main Buywrite ETF	Pair Corr
0.86	IDME	International Drawdown	Pair Corr
0.91	UPRO	ProShares UltraPro SP500 Sell-off Trend	Pair Corr
0.88	QTJA	Innovator ETFs Trust	Pair Corr
0.91	QTOC	Innovator ETFs Trust	Pair Corr
0.98	XTOC	Innovator ETFs Trust	Pair Corr
0.95	QTAP	Innovator Growth 100	Pair Corr
0.96	XTJA	Innovator ETFs Trust	Pair Corr
0.95	XTAP	Innovator Equity Acc	Pair Corr
0.92	VBK	Vanguard Small Cap	Pair Corr
0.91	AHYB	American Century ETF	Pair Corr
0.77	RDIV	Invesco SP Ultra	Pair Corr
0.9	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.93	OASC	OneAscent Small Cap	Pair Corr
0.86	BA	Boeing	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.7	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.76	WMT	Walmart Common Stock Earnings Call Next Week	Pair Corr
0.79	MRK	Merck Company	Pair Corr

Moving against First Etf

0.66	HPQ	HP Inc	Pair Corr
0.54	MSFT	Microsoft	Pair Corr
0.31	MMM	3M Company	Pair Corr

Related Correlations Analysis

	PRCNX	TGDVX	NMIAX	BACPX	FLDGX	STLAX	MNHIX	FLDFX	DPG
PRCNX		0.87	0.89	0.88	0.96	0.91	0.84	0.96	0.53	PRCNX
TGDVX	0.87		0.82	0.91	0.87	0.96	0.84	0.91	0.58	TGDVX
NMIAX	0.89	0.82		0.76	0.93	0.81	0.85	0.9	0.21	NMIAX
BACPX	0.88	0.91	0.76		0.89	0.95	0.86	0.94	0.66	BACPX
FLDGX	0.96	0.87	0.93	0.89		0.88	0.86	0.99	0.43	FLDGX
STLAX	0.91	0.96	0.81	0.95	0.88		0.87	0.93	0.66	STLAX
MNHIX	0.84	0.84	0.85	0.86	0.86	0.87		0.87	0.32	MNHIX
FLDFX	0.96	0.91	0.9	0.94	0.99	0.93	0.87		0.51	FLDFX
DPG	0.53	0.58	0.21	0.66	0.43	0.66	0.32	0.51		DPG
	PRCNX	TGDVX	NMIAX	BACPX	FLDGX	STLAX	MNHIX	FLDFX	DPG

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
PRCNX	0.71	0.31	0.36	0.81	0.00	(0.91)	1.29	(0.98)	12.21
TGDVX	0.63	0.03	0.03	0.12	0.65	(0.71)	1.36	(1.26)	3.23
NMIAX	0.77	0.10	0.12	0.18	0.65	(0.96)	1.54	(1.34)	13.61
BACPX	0.21	0.02	(0.17)	0.64	0.17	(0.24)	0.44	(0.44)	1.14
FLDGX	0.65	0.20	0.16	(2.29)	0.45	(0.81)	1.22	(1.08)	8.84
STLAX	0.28	0.02	(0.07)	0.15	0.25	(0.32)	0.61	(0.70)	1.54
MNHIX	0.59	0.00	(0.03)	0.09	0.64	(0.67)	1.29	(1.23)	3.16
FLDFX	0.46	0.11	0.05	(9.26)	0.31	(0.56)	0.95	(0.96)	4.03
DPG	0.58	0.14	0.08	1.12	0.57	(0.66)	1.29	(1.10)	3.20

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