First Trust Correlations

FTXR Etf

USD 35.84 0.41 1.16%

The current 90-days correlation between First Trust Nasdaq and First Trust Nasdaq is 0.31 (i.e., Weak 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

Good diversification

The correlation between First Trust Nasdaq and DJI is -0.17 (i.e., Good 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.

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 interest.

Moving together with First Etf

0.69	XLI	Industrial Select Sector	Pair Corr
0.78	DRVN	Driven Brands Holdings	Pair Corr
0.73	VIS	Vanguard Industrials	Pair Corr
0.77	JETS	US Global Jets	Pair Corr
0.78	FXR	First Trust Industri	Pair Corr
0.7	PPA	Invesco Aerospace Defense	Pair Corr
0.74	IYJ	iShares Industrials ETF	Pair Corr
0.78	IYT	iShares Transportation	Pair Corr
0.73	FIDU	Fidelity MSCI Industrials	Pair Corr
0.78	NVDL	GraniteShares 15x Long	Pair Corr
0.77	NVDX	T Rex 2X	Pair Corr
0.81	CONL	GraniteShares ETF Trust	Pair Corr
0.78	NVDU	Direxion Daily NVDA	Pair Corr
0.81	BITX	Volatility Shares Trust Trending	Pair Corr
0.86	CRPT	First Trust SkyBridge	Pair Corr
0.86	DAPP	VanEck Digital Trans	Pair Corr
0.85	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.85	BITQ	Bitwise Crypto Industry Downward Rally	Pair Corr
0.76	SPY	SPDR SP 500	Pair Corr
0.66	DIVG	Invesco Exchange Traded	Pair Corr
0.76	DISO	Tidal Trust II	Pair Corr
0.67	DIVB	iShares Dividend	Pair Corr
0.83	BTC	Grayscale Bitcoin Mini	Pair Corr
0.93	MSTY	YieldMax MSTR Option	Pair Corr
0.78	CSCO	Cisco Systems	Pair Corr
0.81	BAC	Bank of America Aggressive Push	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.71	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.73	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.75	DIS	Walt Disney Aggressive Push	Pair Corr
0.72	WMT	Walmart Aggressive Push	Pair Corr

Moving against First Etf

0.79	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.74	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.54	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.5	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FTXG	FTXH	FTXO	FTXN	FTAG
FTXG		0.71	-0.85	-0.6	0.52	FTXG
FTXH	0.71		-0.54	-0.39	0.39	FTXH
FTXO	-0.85	-0.54		0.65	-0.55	FTXO
FTXN	-0.6	-0.39	0.65		-0.22	FTXN
FTAG	0.52	0.39	-0.55	-0.22		FTAG
	FTXG	FTXH	FTXO	FTXN	FTAG

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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

FTXH	+ 0.71	FTXG
FTXN	+ 0.65	FTXO
FTAG	+ 0.52	FTXG
FTAG	+ 0.39	FTXH

High negative correlations

FTXO	- 0.85	FTXG
FTXN	- 0.6	FTXG
FTAG	- 0.55	FTXO
FTXO	- 0.54	FTXH
FTXN	- 0.39	FTXH
FTAG	- 0.22	FTXN

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
FTXG	0.50	(0.06)	0.00	0.55	0.00	0.00	0.79	(1.13)	2.94
FTXH	0.61	(0.10)	0.00	(0.86)	0.00	0.00	1.04	(1.56)	4.86
FTXO	1.21	0.28	0.14	(1.42)	0.97	(1.54)	2.59	(2.07)	15.21
FTXN	1.00	0.04	0.02	0.15	1.31	(0.98)	2.02	(2.52)	6.02
FTAG	0.66	(0.06)	0.00	(0.06)	0.00	0.00	1.51	(1.06)	4.70

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