First Trust Correlations

FTHI Etf

USD 23.61 0.35 1.46%

The current 90-days correlation between First Trust BuyWrite and YieldMax ABNB Option is 0.01 (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.

First Trust Correlation With Market

Modest diversification

The correlation between First Trust BuyWrite and DJI is 0.2 (i.e., Modest 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

0.86	JEPI	JPMorgan Equity Premium	Pair Corr
0.87	XYLD	Global X SP	Pair Corr
0.69	DIVO	Amplify CWP Enhanced	Pair Corr
0.86	RYLD	Global X Russell	Pair Corr
0.97	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.7	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.79	KNG	FT Cboe Vest	Pair Corr
0.88	BUYW	Main Buywrite ETF	Pair Corr
0.9	IDME	International Drawdown	Pair Corr
0.95	CPST	Calamos ETF Trust	Pair Corr
0.88	ITDD	iShares Trust	Pair Corr
0.89	FENI	Fidelity Covington Trust	Pair Corr
0.85	FUSI	American Century ETF	Pair Corr
0.74	MEM	MAYBANK EMERGING ETF	Pair Corr
0.98	GQI	Natixis ETF Trust	Pair Corr
0.75	IWO	iShares Russell 2000	Pair Corr
0.96	VT	Vanguard Total World	Pair Corr
0.96	HDUS	Lattice Strategies Trust	Pair Corr
0.82	XLI	Industrial Select Sector	Pair Corr
0.84	PDBC	Invesco Optimum Yield	Pair Corr
0.94	VV	Vanguard Large Cap	Pair Corr
0.73	QTUM	Defiance Quantum ETF	Pair Corr
0.86	KFEB	Innovator Small Cap	Pair Corr
0.63	MKTN	Federated Hermes ETF	Pair Corr
0.85	XLF	Financial Select Sector	Pair Corr
0.91	FIVA	Fidelity International	Pair Corr
0.77	NVMZ	TrueShares Structured	Pair Corr
0.88	RYLG	Global X Russell	Pair Corr
0.86	USHY	iShares Broad USD Sell-off Trend	Pair Corr
0.84	DDX	Defined Duration Symbol Change	Pair Corr
0.9	HEGD	Swan Hedged Equity	Pair Corr
0.78	PBDC	Putnam ETF Trust	Pair Corr
0.81	DBP	Invesco DB Precious	Pair Corr
0.74	ARLU	AIM ETF Products	Pair Corr
0.85	JPIE	JP Morgan Exchange Sell-off Trend	Pair Corr
0.92	CEFZ	RiverNorth Active Income	Pair Corr

Moving against First Etf

0.67	MPAY	Exchange Traded Concepts	Pair Corr
0.62	PUTW	WisdomTree CBOE SP Symbol Change	Pair Corr

Related Correlations Analysis

	ABNY	NETL	XOMO	ALTY	QXQ	XRMI	PYPY	DOGG	DYNB
ABNY		0.2	0.47	0.64	0.55	0.71	-0.3	0.29	0.51	ABNY
NETL	0.2		0.34	0.36	0.05	0.15	0.08	-0.02	0.62	NETL
XOMO	0.47	0.34		0.87	0.31	0.81	-0.7	0.71	0.2	XOMO
ALTY	0.64	0.36	0.87		0.53	0.95	-0.71	0.79	0.43	ALTY
QXQ	0.55	0.05	0.31	0.53		0.54	-0.06	0.2	0.42	QXQ
XRMI	0.71	0.15	0.81	0.95	0.54		-0.77	0.8	0.39	XRMI
PYPY	-0.3	0.08	-0.7	-0.71	-0.06	-0.77		-0.89	0.03	PYPY
DOGG	0.29	-0.02	0.71	0.79	0.2	0.8	-0.89		0.04	DOGG
DYNB	0.51	0.62	0.2	0.43	0.42	0.39	0.03	0.04		DYNB
	ABNY	NETL	XOMO	ALTY	QXQ	XRMI	PYPY	DOGG	DYNB

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

XRMI	+ 0.95	ALTY
ALTY	+ 0.87	XOMO
XRMI	+ 0.81	XOMO
DOGG	+ 0.8	XRMI
DOGG	+ 0.79	ALTY
XRMI	+ 0.71	ABNY

High negative correlations

DOGG	- 0.89	PYPY
PYPY	- 0.77	XRMI
PYPY	- 0.71	ALTY
PYPY	- 0.7	XOMO
PYPY	- 0.3	ABNY
PYPY	- 0.06	QXQ

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
ABNY	0.88	0.03	0.00	0.10	1.35	(0.79)	2.08	(2.28)	6.75
NETL	0.59	0.06	0.00	0.65	0.66	(0.61)	1.13	(1.04)	3.01
XOMO	0.81	0.15	0.11	0.42	0.80	(0.92)	1.89	(1.07)	5.52
ALTY	0.24	0.05	0.00	0.22	0.12	(0.28)	0.51	(0.51)	1.63
QXQ	0.80	(0.03)	(0.03)	0.03	1.09	(0.79)	1.37	(1.99)	4.61
XRMI	0.25	0.03	(0.04)	0.15	0.34	(0.27)	0.51	(0.40)	1.45
PYPY	1.21	(0.34)	0.00	(0.21)	0.00	0.00	1.99	(2.56)	8.14
DOGG	0.49	0.10	0.11	0.33	0.29	(0.57)	1.02	(0.77)	3.19
DYNB	0.11	(0.01)	(0.50)	(0.13)	0.13	(0.11)	0.20	(0.20)	0.63

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