First Trust Correlations

FTQI Etf

USD 21.01 0.05 0.24%

The current 90-days correlation between First Trust Nasdaq and VictoryShares EQ Income is 0.23 (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.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Nasdaq and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Nasdaq 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 Nasdaq. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.7	XYLD	Global X SP	Pair Corr
0.7	DIVO	Amplify CWP Enhanced	Pair Corr
0.66	RYLD	Global X Russell	Pair Corr
0.97	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.74	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.64	BUYW	Main Buywrite ETF	Pair Corr
0.77	IDME	International Drawdown	Pair Corr
0.92	MUU	Direxion Daily MU Trending	Pair Corr
0.91	MULL	GraniteShares 2x Long Trending	Pair Corr
0.74	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.78	KORU	Direxion Daily South	Pair Corr
0.63	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.64	HEZU	iShares Currency Hedged	Pair Corr
0.64	VONG	Vanguard Russell 1000	Pair Corr
0.8	QQQM	Invesco NASDAQ 100	Pair Corr
0.87	IBTG	iShares iBonds Dec	Pair Corr
0.9	VOO	Vanguard SP 500	Pair Corr
0.93	CPSU	Calamos SP 500	Pair Corr
0.68	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.69	QLC	FlexShares Quality Large	Pair Corr
0.95	PBJA	PGIM Rock ETF	Pair Corr
0.95	ZJAN	Innovator Equity Defined	Pair Corr

Related Correlations Analysis

	CDC	CSHI	SVOL	PWRD	QQQJ	HLAL	PFM	JSMD	BUFF	RSMC
CDC		0.24	0.47	-0.21	0.39	0.36	0.59	0.2	0.43	0.39	CDC
CSHI	0.24		0.5	-0.42	0.65	0.81	0.69	0.04	0.83	-0.33	CSHI
SVOL	0.47	0.5		0.15	0.85	0.77	0.81	0.66	0.85	0.44	SVOL
PWRD	-0.21	-0.42	0.15		0.17	0.04	-0.01	0.67	-0.04	0.51	PWRD
QQQJ	0.39	0.65	0.85	0.17		0.85	0.87	0.68	0.91	0.32	QQQJ
HLAL	0.36	0.81	0.77	0.04	0.85		0.86	0.5	0.95	0.08	HLAL
PFM	0.59	0.69	0.81	-0.01	0.87	0.86		0.56	0.91	0.37	PFM
JSMD	0.2	0.04	0.66	0.67	0.68	0.5	0.56		0.51	0.76	JSMD
BUFF	0.43	0.83	0.85	-0.04	0.91	0.95	0.91	0.51		0.16	BUFF
RSMC	0.39	-0.33	0.44	0.51	0.32	0.08	0.37	0.76	0.16		RSMC
	CDC	CSHI	SVOL	PWRD	QQQJ	HLAL	PFM	JSMD	BUFF	RSMC

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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

BUFF	+ 0.95	HLAL
BUFF	+ 0.91	QQQJ
BUFF	+ 0.91	PFM
PFM	+ 0.87	QQQJ
PFM	+ 0.86	HLAL
QQQJ	+ 0.85	SVOL

High negative correlations

PWRD	- 0.42	CSHI
RSMC	- 0.33	CSHI
PWRD	- 0.21	CDC
BUFF	- 0.04	PWRD
PFM	- 0.01	PWRD

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
CDC	0.49	(0.03)	(0.10)	0.02	0.59	(0.51)	0.95	(1.09)	2.53
CSHI	0.05	0.01	(1.05)	(0.44)	0.00	(0.06)	0.12	(0.06)	0.33
SVOL	0.89	0.05	(0.02)	(2.59)	1.23	(1.08)	2.49	(1.46)	6.26
PWRD	1.08	0.04	(0.03)	(0.14)	1.61	(1.02)	1.98	(2.90)	6.39
QQQJ	0.89	0.00	0.00	0.00	1.16	(0.87)	1.63	(2.19)	4.63
HLAL	0.64	0.08	0.01	0.97	0.72	(0.69)	1.55	(1.21)	4.02
PFM	0.47	0.04	(0.04)	1.15	0.51	(0.51)	0.96	(0.89)	2.37
JSMD	1.04	0.01	(0.05)	0.02	1.41	(1.08)	2.09	(2.44)	6.02
BUFF	0.23	0.03	(0.13)	23.45	0.25	(0.25)	0.55	(0.45)	1.54
RSMC	0.78	(0.02)	0.00	0.19	0.00	0.00	1.46	(1.79)	5.51

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