First Trust Correlations

FUD Etf

CAD 39.14 0.07 0.18%

The current 90-days correlation between First Trust Value and Global X Big is 0.01 (i.e., Significant diversification). 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

Poor diversification

The correlation between First Trust Value and DJI is 0.74 (i.e., Poor 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.

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

0.83	CUD	iShares Dividend Growers	Pair Corr
0.87	ZWH	BMO High Dividend	Pair Corr
0.8	VGH	Vanguard Dividend	Pair Corr
0.81	XHD	iShares High Dividend	Pair Corr
0.92	ZUD	BMO Dividend Hedged	Pair Corr
0.74	HGU	BetaPro Canadian Gold	Pair Corr
0.84	ZGD	BMO Equal Weight	Pair Corr
0.84	ZJG	BMO Junior Gold	Pair Corr
0.84	XBM	iShares SPTSX Global	Pair Corr
0.75	HXU	BetaPro SP TSX	Pair Corr
0.83	XGD	iShares SPTSX Global	Pair Corr
0.8	HEP	Global X Enhanced	Pair Corr
0.87	PSB	Invesco 1 5	Pair Corr
0.81	VCN	Vanguard FTSE Canada	Pair Corr
0.86	XINC	iShares Core Income	Pair Corr
0.85	PXS	Invesco RAFI Index	Pair Corr
0.85	XSMH	iShares SP Small	Pair Corr
0.83	COPP	Global X Copper	Pair Corr
0.88	XDIV	iShares Core MSCI	Pair Corr
0.89	HEU	BetaPro SP TSX	Pair Corr
0.91	XEG	iShares SPTSX Capped	Pair Corr
0.64	HURA	Global X Uranium	Pair Corr
0.63	BLCK	First Trust Indxx	Pair Corr
0.82	XMM	iShares MSCI Min	Pair Corr
0.97	CYH	iShares Global Monthly	Pair Corr
0.88	FMAE	Fidelity Multi Alt	Pair Corr
0.89	VCB	Vanguard Canadian	Pair Corr
0.9	VSB	Vanguard Canadian Short	Pair Corr
0.84	HGGG	Harvest Global Gold	Pair Corr
0.81	PFIN	PICTON Income	Pair Corr
0.81	XESG	iShares ESG Aware	Pair Corr
0.89	TGFI	TD Active Global	Pair Corr

Moving against First Etf

0.36

HQU

BetaPro NASDAQ 100

Pair Corr

Related Correlations Analysis

	EDGF	XML	XVLU	HCON	RPD	QDXH	HIG	PXS	FHQ	HBGD
EDGF		0.87	0.96	0.88	0.95	0.97	0.55	0.89	-0.01	0.83	EDGF
XML	0.87		0.88	0.86	0.95	0.94	0.72	0.81	-0.4	0.55	XML
XVLU	0.96	0.88		0.87	0.96	0.97	0.59	0.9	-0.07	0.81	XVLU
HCON	0.88	0.86	0.87		0.89	0.89	0.72	0.9	-0.11	0.76	HCON
RPD	0.95	0.95	0.96	0.89		0.98	0.65	0.88	-0.24	0.73	RPD
QDXH	0.97	0.94	0.97	0.89	0.98		0.62	0.9	-0.17	0.77	QDXH
HIG	0.55	0.72	0.59	0.72	0.65	0.62		0.58	-0.38	0.34	HIG
PXS	0.89	0.81	0.9	0.9	0.88	0.9	0.58		0.0	0.77	PXS
FHQ	-0.01	-0.4	-0.07	-0.11	-0.24	-0.17	-0.38	0.0		0.36	FHQ
HBGD	0.83	0.55	0.81	0.76	0.73	0.77	0.34	0.77	0.36		HBGD
	EDGF	XML	XVLU	HCON	RPD	QDXH	HIG	PXS	FHQ	HBGD

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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

QDXH	+ 0.98	RPD
QDXH	+ 0.97	EDGF
QDXH	+ 0.97	XVLU
XVLU	+ 0.96	EDGF
RPD	+ 0.96	XVLU
RPD	+ 0.95	EDGF

High negative correlations

FHQ	- 0.4	XML
FHQ	- 0.38	HIG
FHQ	- 0.24	RPD
FHQ	- 0.17	QDXH
FHQ	- 0.11	HCON
FHQ	- 0.07	XVLU

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
EDGF	0.48	0.16	0.15	0.55	0.00	(0.62)	1.23	(0.94)	3.90
XML	0.33	0.14	0.12	4.18	0.00	(0.43)	0.85	(0.58)	2.39
XVLU	0.79	0.20	0.16	0.41	0.54	(0.92)	2.10	(1.41)	4.56
HCON	0.24	0.04	(0.17)	0.64	0.00	(0.32)	0.61	(0.41)	1.29
RPD	0.50	0.24	0.25	1.05	0.00	(0.61)	1.22	(0.91)	3.03
QDXH	0.36	0.15	0.20	0.59	0.00	(0.59)	1.40	(0.37)	2.69
HIG	0.68	0.03	(0.03)	0.18	0.94	(0.73)	1.76	(1.38)	5.48
PXS	0.50	0.07	(0.01)	0.38	0.39	(0.54)	1.57	(0.97)	3.58
FHQ	1.02	(0.06)	(0.02)	0.05	1.50	(1.03)	2.19	(2.71)	8.48
HBGD	1.66	0.20	0.11	0.24	1.82	(1.85)	3.55	(3.79)	10.66

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.

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