First Trust Correlations

FTIF Etf

23.21 0.00 0.00%

The current 90-days correlation between First Trust Bloomberg and Ned Davis Research is 0.72 (i.e., Poor 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

Poor diversification

The correlation between First Trust Bloomberg and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Bloomberg 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 Bloomberg. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

0.92	VOE	Vanguard Mid Cap	Pair Corr
0.61	SDY	SPDR SP Dividend	Pair Corr
0.76	DVY	iShares Select Dividend	Pair Corr
0.88	IWS	iShares Russell Mid	Pair Corr
0.65	FVD	First Trust Value	Pair Corr
0.95	COWZ	Pacer Cash Cows	Pair Corr
0.76	DON	WisdomTree MidCap	Pair Corr
0.93	RPV	Invesco SP 500	Pair Corr
0.72	UPRO	ProShares UltraPro SP500	Pair Corr
0.92	QTJA	Innovator ETFs Trust	Pair Corr
0.78	QTOC	Innovator ETFs Trust	Pair Corr
0.88	XTOC	Innovator ETFs Trust	Pair Corr
0.92	QTAP	Innovator Growth 100	Pair Corr
0.93	XTJA	Innovator ETFs Trust	Pair Corr
0.93	XTAP	Innovator Equity Acc	Pair Corr
0.86	DDFO	Innovator Equity Dual	Pair Corr
0.74	CAT	Caterpillar	Pair Corr
0.81	AA	Alcoa Corp	Pair Corr
0.76	MRK	Merck Company	Pair Corr
0.77	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.8	AXP	American Express	Pair Corr
0.73	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.75	JPM	JPMorgan Chase	Pair Corr
0.78	DD	Dupont De Nemours	Pair Corr
0.66	IBM	International Business	Pair Corr

Moving against First Etf

0.68	PG	Procter Gamble	Pair Corr
0.6	MSFT	Microsoft	Pair Corr
0.5	HD	Home Depot	Pair Corr

Related Correlations Analysis

	NDAA	HFEQ	HWAY	BENJ	GLBL	SJCP	FCFY	SUPL	MAKX	CARD
NDAA		0.88	0.82	0.61	0.96	0.59	0.73	0.74	0.27	-0.63	NDAA
HFEQ	0.88		0.8	0.27	0.91	0.25	0.68	0.56	0.62	-0.61	HFEQ
HWAY	0.82	0.8		0.66	0.88	0.54	0.91	0.87	0.25	-0.85	HWAY
BENJ	0.61	0.27	0.66		0.57	0.92	0.69	0.9	-0.45	-0.6	BENJ
GLBL	0.96	0.91	0.88	0.57		0.54	0.76	0.74	0.36	-0.68	GLBL
SJCP	0.59	0.25	0.54	0.92	0.54		0.53	0.79	-0.43	-0.42	SJCP
FCFY	0.73	0.68	0.91	0.69	0.76	0.53		0.9	0.14	-0.94	FCFY
SUPL	0.74	0.56	0.87	0.9	0.74	0.79	0.9		-0.16	-0.82	SUPL
MAKX	0.27	0.62	0.25	-0.45	0.36	-0.43	0.14	-0.16		-0.08	MAKX
CARD	-0.63	-0.61	-0.85	-0.6	-0.68	-0.42	-0.94	-0.82	-0.08		CARD
	NDAA	HFEQ	HWAY	BENJ	GLBL	SJCP	FCFY	SUPL	MAKX	CARD

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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

GLBL	+ 0.96	NDAA
SJCP	+ 0.92	BENJ
GLBL	+ 0.91	HFEQ
FCFY	+ 0.91	HWAY
SUPL	+ 0.9	BENJ
SUPL	+ 0.9	FCFY

High negative correlations

CARD	- 0.94	FCFY
CARD	- 0.85	HWAY
CARD	- 0.82	SUPL
CARD	- 0.68	GLBL
CARD	- 0.63	NDAA
CARD	- 0.61	HFEQ

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
NDAA	0.51	0.00	(0.01)	0.06	0.69	(0.52)	0.99	(1.20)	2.96
HFEQ	1.17	(0.04)	0.00	0.03	1.82	(1.06)	2.31	(2.79)	7.48
HWAY	0.83	(0.01)	0.00	0.05	1.00	(0.85)	1.86	(2.05)	4.54
BENJ	0.01	0.00	0.00	0.00	0.00	0.00	0.04	0.00	0.08
GLBL	0.65	(0.02)	(0.02)	0.04	0.91	(0.63)	1.36	(1.53)	3.70
SJCP	0.09	0.01	(0.21)	0.24	0.00	(0.11)	0.24	(0.20)	1.20
FCFY	0.75	(0.02)	(0.01)	0.04	1.02	(0.76)	1.45	(1.43)	4.44
SUPL	0.64	0.07	0.07	0.14	0.71	(0.65)	1.29	(1.32)	3.17
MAKX	1.55	(0.11)	(0.02)	0.01	2.24	(1.48)	3.35	(3.37)	9.07
CARD	3.82	0.34	0.00	(0.02)	4.25	(4.43)	7.58	(6.45)	23.68

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