First Trust Correlations
| FUD Etf | CAD 37.63 0.15 0.40% |
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Value moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
First Trust Correlation With Market
Good diversification
The correlation between First Trust Value and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Value and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to First Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Trust when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Trust - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Trust Value to buy it.
Moving together with First Etf
| 0.86 | CUD | iShares Dividend Growers | PairCorr |
| 0.65 | ZDY | BMO Dividend ETF | PairCorr |
| 0.62 | ZWH | BMO High Dividend | PairCorr |
| 0.7 | VGH | Vanguard Dividend | PairCorr |
| 0.65 | RUD | RBC Quant Dividend | PairCorr |
| 0.77 | XHD | iShares High Dividend | PairCorr |
| 0.76 | ZUD | BMO Dividend Hedged | PairCorr |
| 0.68 | FTN | Financial 15 Split Split | PairCorr |
| 0.74 | HAC | Global X Seasonal | PairCorr |
| 0.69 | QDX | Mackenzie International | PairCorr |
| 0.79 | QCE | Mackenzie Canadian Large | PairCorr |
| 0.75 | QCN | Mackenzie Canadian Equity | PairCorr |
| 0.67 | MBAL | Mackenzie Balanced | PairCorr |
| 0.77 | GLDX | Global X Gold | PairCorr |
| 0.76 | VIDY | Vanguard FTSE Developed | PairCorr |
| 0.74 | THE | TD International Equity | PairCorr |
| 0.71 | FCVH | Fidelity Value Currency | PairCorr |
| 0.63 | VVSG | Vanguard Canadian Ultra | PairCorr |
| 0.79 | EIT-UN | Canoe EIT Income | PairCorr |
| 0.67 | EQLI | Invesco SP 500 | PairCorr |
| 0.73 | XIN | iShares MSCI EAFE | PairCorr |
| 0.92 | PRP | Purpose Conservative | PairCorr |
| 0.76 | XEH | iShares MSCI Europe | PairCorr |
| 0.76 | DRMC | Desjardins RI Canada | PairCorr |
| 0.76 | MNS | Royal Canadian Mint | PairCorr |
Moving against First Etf
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in First Trust without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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