First Trust Correlations

FTHY Stock

USD 14.70 0.06 0.41%

The current 90-days correlation between First Trust High and Eaton Vance National is 0.25 (i.e., Modest 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

Modest diversification

The correlation between First Trust High and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust High and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust High. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with First Stock

0.7	V	Visa Class A	Pair Corr
0.81	BN	Brookfield Corp Earnings Call This Week	Pair Corr
0.63	BX	Blackstone Group	Pair Corr
0.74	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.65	DX	Dynex Capital	Pair Corr
0.69	MA	Mastercard	Pair Corr
0.65	MC	Moelis Earnings Call This Week	Pair Corr
0.61	SF	Stifel Financial	Pair Corr
0.63	ECPG	Encore Capital Group	Pair Corr
0.71	EZPW	EZCORP Inc	Pair Corr
0.68	FDUS	Fidus Investment Corp	Pair Corr
0.7	APO	Apollo Global Management Earnings Call This Week	Pair Corr
0.64	ARI	Apollo Commercial Real Earnings Call This Week	Pair Corr
0.77	AXP	American Express	Pair Corr
0.68	BAM	Brookfield Asset Man Earnings Call This Week	Pair Corr
0.76	COF	Capital One Financial	Pair Corr
0.76	DFS	Discover Financial	Pair Corr
0.68	EFC	Ellington Financial	Pair Corr
0.82	KKR	KKR Co LP Earnings Call This Week	Pair Corr
0.67	OPY	Oppenheimer Holdings	Pair Corr
0.62	ORC	Orchid Island Capital	Pair Corr
0.75	PJT	PJT Partners Earnings Call This Week	Pair Corr
0.78	RJF	Raymond James Financial	Pair Corr

Moving against First Stock

0.46	MKTX	MarketAxess Holdings	Pair Corr
0.31	RKT	Rocket Companies	Pair Corr

Related Correlations Analysis

	IHTA	JHAA	CBH	CXH	EOT	IHIT	DTF	MHD	KTF	RFMZ
IHTA		0.87	0.93	-0.38	-0.86	-0.51	0.04	-0.42	-0.58	-0.34	IHTA
JHAA	0.87		0.92	-0.28	-0.74	-0.29	0.1	-0.35	-0.59	-0.33	JHAA
CBH	0.93	0.92		-0.25	-0.76	-0.48	0.13	-0.27	-0.51	-0.2	CBH
CXH	-0.38	-0.28	-0.25		0.64	-0.03	0.55	0.87	0.86	0.71	CXH
EOT	-0.86	-0.74	-0.76	0.64		0.47	0.28	0.74	0.77	0.69	EOT
IHIT	-0.51	-0.29	-0.48	-0.03	0.47		0.06	0.01	-0.08	0.11	IHIT
DTF	0.04	0.1	0.13	0.55	0.28	0.06		0.54	0.41	0.71	DTF
MHD	-0.42	-0.35	-0.27	0.87	0.74	0.01	0.54		0.85	0.86	MHD
KTF	-0.58	-0.59	-0.51	0.86	0.77	-0.08	0.41	0.85		0.72	KTF
RFMZ	-0.34	-0.33	-0.2	0.71	0.69	0.11	0.71	0.86	0.72		RFMZ
	IHTA	JHAA	CBH	CXH	EOT	IHIT	DTF	MHD	KTF	RFMZ

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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

CBH	+ 0.93	IHTA
CBH	+ 0.92	JHAA
JHAA	+ 0.87	IHTA
MHD	+ 0.87	CXH
KTF	+ 0.86	CXH
RFMZ	+ 0.86	MHD

High negative correlations

EOT	- 0.86	IHTA
EOT	- 0.76	CBH
EOT	- 0.74	JHAA
KTF	- 0.59	JHAA
KTF	- 0.58	IHTA
KTF	- 0.51	CBH

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Trust Company 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
IHTA	0.23	0.05	(0.09)	(1.16)	0.25	(0.31)	0.68	(0.27)	2.03
JHAA	0.15	0.02	(0.32)	8.45	0.00	(0.20)	0.33	(0.22)	0.96
CBH	0.13	0.03	(0.26)	0.86	0.00	(0.18)	0.22	(0.22)	0.78
CXH	0.43	(0.01)	(0.12)	(0.29)	0.68	(0.40)	0.76	(1.01)	3.18
EOT	0.46	(0.07)	0.00	(0.67)	0.00	0.00	0.87	(1.01)	2.88
IHIT	0.46	(0.04)	0.00	0.81	0.00	0.00	1.07	(1.18)	2.70
DTF	0.34	0.02	(0.14)	(0.25)	0.42	(0.42)	0.83	(0.71)	2.78
MHD	0.60	(0.02)	(0.11)	(0.01)	0.78	(0.56)	1.15	(1.11)	2.75
KTF	0.42	(0.03)	0.00	(0.08)	0.00	0.00	0.97	(0.94)	2.84
RFMZ	0.52	(0.01)	(0.12)	0.06	0.61	(0.58)	1.11	(1.07)	3.10

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