First Trust Correlations

FVC Etf

USD 37.09 1.18 3.08%

The current 90-days correlation between First Trust Dorsey and Invesco Exchange Traded is 0.61 (i.e., Poor 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 poor diversification

The correlation between First Trust Dorsey and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Dorsey 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 Dorsey. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with First Etf

0.95	TDSC	Cabana Target Drawdown	Pair Corr
0.93	YYY	Amplify High Income	Pair Corr
0.91	TDSB	Cabana Target Drawdown	Pair Corr
0.96	GMOM	Cambria Global Momentum	Pair Corr
0.65	AGOX	Adaptive Alpha Oppor	Pair Corr
0.94	TACK	Fairlead Tactical Sector	Pair Corr
0.98	DALI	First Trust Dorsey	Pair Corr
0.68	UPRO	ProShares UltraPro SP500	Pair Corr
0.84	QTJA	Innovator ETFs Trust	Pair Corr
0.76	QTOC	Innovator ETFs Trust	Pair Corr
0.85	XTOC	Innovator ETFs Trust	Pair Corr
0.89	QTAP	Innovator Growth 100	Pair Corr
0.88	XTJA	Innovator ETFs Trust	Pair Corr
0.87	XTAP	Innovator Equity Acc	Pair Corr
0.83	RDIV	Invesco SP Ultra	Pair Corr
0.89	GAPR	First Trust Exchange	Pair Corr
0.92	BINC	BlackRock ETF Trust	Pair Corr
0.88	AHYB	American Century ETF	Pair Corr
0.96	IBMR	iShares Trust	Pair Corr
0.93	SPMD	SPDR Russell Small	Pair Corr
0.86	OASC	OneAscent Small Cap	Pair Corr
0.91	IAUM	iShares Gold Trust	Pair Corr
0.85	GSIG	Goldman Sachs Access	Pair Corr
0.9	VBK	Vanguard Small Cap	Pair Corr
0.85	SEIX	Virtus ETF Trust	Pair Corr
0.94	BBEU	JPMorgan BetaBuilders	Pair Corr
0.9	MART	Allianzim Large Cap	Pair Corr

Related Correlations Analysis

	YLDE	INDS	SOVF	GSEU	ABEQ	ALTL	YSEP	PHEQ	UFO	UPGD
YLDE		0.74	0.87	0.97	0.94	0.51	0.92	0.84	0.84	0.92	YLDE
INDS	0.74		0.78	0.77	0.76	0.71	0.84	0.57	0.86	0.84	INDS
SOVF	0.87	0.78		0.91	0.77	0.62	0.9	0.9	0.91	0.93	SOVF
GSEU	0.97	0.77	0.91		0.9	0.62	0.97	0.86	0.91	0.94	GSEU
ABEQ	0.94	0.76	0.77	0.9		0.41	0.87	0.68	0.78	0.86	ABEQ
ALTL	0.51	0.71	0.62	0.62	0.41		0.7	0.58	0.69	0.68	ALTL
YSEP	0.92	0.84	0.9	0.97	0.87	0.7		0.8	0.95	0.95	YSEP
PHEQ	0.84	0.57	0.9	0.86	0.68	0.58	0.8		0.75	0.85	PHEQ
UFO	0.84	0.86	0.91	0.91	0.78	0.69	0.95	0.75		0.91	UFO
UPGD	0.92	0.84	0.93	0.94	0.86	0.68	0.95	0.85	0.91		UPGD
	YLDE	INDS	SOVF	GSEU	ABEQ	ALTL	YSEP	PHEQ	UFO	UPGD

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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
YLDE	0.45	0.08	0.10	0.18	0.43	(0.51)	0.91	(0.86)	2.52
INDS	0.68	0.03	(0.02)	0.31	0.72	(0.76)	1.38	(0.98)	3.99
SOVF	0.69	0.00	(0.01)	0.05	0.74	(0.75)	1.69	(1.48)	3.75
GSEU	0.61	0.10	0.12	0.20	0.56	(0.71)	1.30	(1.30)	3.08
ABEQ	0.49	0.13	0.15	0.34	0.33	(0.57)	1.20	(0.93)	2.81
ALTL	0.93	0.00	(0.04)	0.02	1.35	(0.94)	1.87	(2.40)	5.30
YSEP	0.30	0.05	0.01	1.20	0.26	(0.34)	0.63	(0.59)	1.87
PHEQ	0.25	(0.01)	(0.13)	0.03	0.30	(0.26)	0.50	(0.47)	1.95
UFO	2.07	0.30	0.10	0.99	2.26	(2.10)	4.47	(3.57)	9.87
UPGD	0.60	0.08	0.06	0.51	0.56	(0.65)	1.53	(0.94)	3.84

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First Trust Correlations

First Trust Correlation With Market

Very poor diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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