First Trust Correlations

FTXG Etf

USD 23.62 0.29 1.24%

The current 90-days correlation between First Trust Nasdaq and JP Morgan Exchange Traded is -0.01 (i.e., Good 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

Very weak diversification

The correlation between First Trust Nasdaq and DJI is 0.59 (i.e., Very weak 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 median.

Moving together with First Etf

0.96	XLP	Consumer Staples Select	Pair Corr
0.96	VDC	Vanguard Consumer Staples	Pair Corr
0.97	IYK	iShares Consumer Staples	Pair Corr
0.97	KXI	iShares Global Consumer	Pair Corr
0.96	FSTA	Fidelity MSCI Consumer	Pair Corr
0.94	RHS	Invesco SP 500	Pair Corr
0.95	FXG	First Trust Consumer	Pair Corr
0.97	PBJ	Invesco Dynamic Food	Pair Corr
0.88	PSL	Invesco DWA Consumer	Pair Corr
0.84	OIH	VanEck Oil Services	Pair Corr
0.74	IBMR	iShares Trust	Pair Corr
0.71	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.62	BND	Vanguard Total Bond	Pair Corr
0.75	IAUM	iShares Gold Trust	Pair Corr
0.61	AHYB	American Century ETF	Pair Corr
0.7	SPMD	SPDR Russell Small	Pair Corr
0.8	ABI	VictoryShares Pioneer	Pair Corr
0.69	BBEU	JPMorgan BetaBuilders	Pair Corr
0.67	YLD	Principal Active High	Pair Corr
0.81	SYLD	Cambria Shareholder Yield	Pair Corr
0.76	DDLS	WisdomTree Dynamic	Pair Corr
0.62	STXT	EA Series Trust	Pair Corr
0.8	THD	iShares MSCI Thailand	Pair Corr
0.72	VUSB	Vanguard Ultra Short Sell-off Trend	Pair Corr
0.71	GSIG	Goldman Sachs Access	Pair Corr
0.88	RDIV	Invesco SP Ultra	Pair Corr
0.78	DBJP	Xtrackers MSCI Japan	Pair Corr

Moving against First Etf

0.85	ARKW	ARK Next Generation	Pair Corr
0.68	HUM	Humana Inc	Pair Corr

Related Correlations Analysis

	FTXH	SHRY	TOKE	DFVE	FLN	RNEM	LST	LTL	MEDX	JCHI
FTXH		0.87	0.35	0.89	0.8	0.81	0.88	0.65	0.96	0.14	FTXH
SHRY	0.87		0.46	0.98	0.87	0.86	0.97	0.68	0.77	0.4	SHRY
TOKE	0.35	0.46		0.43	0.17	0.17	0.42	0.54	0.29	0.05	TOKE
DFVE	0.89	0.98	0.43		0.88	0.87	0.99	0.67	0.8	0.42	DFVE
FLN	0.8	0.87	0.17	0.88		0.96	0.9	0.45	0.7	0.5	FLN
RNEM	0.81	0.86	0.17	0.87	0.96		0.91	0.44	0.73	0.59	RNEM
LST	0.88	0.97	0.42	0.99	0.9	0.91		0.68	0.78	0.49	LST
LTL	0.65	0.68	0.54	0.67	0.45	0.44	0.68		0.6	0.12	LTL
MEDX	0.96	0.77	0.29	0.8	0.7	0.73	0.78	0.6		0.06	MEDX
JCHI	0.14	0.4	0.05	0.42	0.5	0.59	0.49	0.12	0.06		JCHI
	FTXH	SHRY	TOKE	DFVE	FLN	RNEM	LST	LTL	MEDX	JCHI

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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
FTXH	0.85	0.16	0.17	0.35	0.54	(1.10)	2.01	(1.24)	4.73
SHRY	0.59	0.07	0.07	0.20	0.46	(0.68)	1.34	(0.96)	3.46
TOKE	1.94	0.07	(0.01)	0.77	2.22	(2.46)	5.71	(3.17)	29.19
DFVE	0.63	0.08	0.10	0.18	0.50	(0.74)	1.83	(1.32)	3.68
FLN	1.08	0.31	0.17	0.79	1.13	(1.20)	2.23	(2.15)	6.15
RNEM	0.48	0.07	0.03	0.31	0.32	(0.55)	0.93	(0.69)	2.76
LST	0.67	0.08	0.08	0.19	0.66	(0.77)	1.33	(1.26)	3.41
LTL	1.25	0.02	0.00	0.11	1.32	(1.48)	2.34	(2.52)	8.66
MEDX	0.92	0.07	0.05	0.20	0.81	(1.13)	2.52	(1.62)	4.72
JCHI	0.67	(0.07)	0.00	(0.03)	0.00	0.00	1.22	(1.31)	4.63

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