First Trust Correlations

FVC Etf

USD 37.63 0.20 0.53%

The current 90-days correlation between First Trust Dorsey and Invesco Exchange Traded is 0.52 (i.e., Very 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.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Dorsey and DJI is 0.83 (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 persons.

Moving together with First Etf

0.73	TDSC	Cabana Target Drawdown	Pair Corr
0.73	YYY	Amplify High Income	Pair Corr
0.7	TDSB	Cabana Target Drawdown	Pair Corr
0.75	GMOM	Cambria Global Momentum	Pair Corr
0.86	AGOX	Adaptive Alpha Oppor	Pair Corr
0.71	TACK	Fairlead Tactical Sector	Pair Corr
0.97	DALI	First Trust Dorsey	Pair Corr
0.79	ITWO	Proshares Russell 2000	Pair Corr
0.77	ELON	Battleshares TSLA	Pair Corr
0.83	CPST	Calamos ETF Trust	Pair Corr
0.93	URA	Global X Uranium	Pair Corr
0.8	UEVM	VictoryShares Emerging	Pair Corr
0.78	AVMC	American Century ETF	Pair Corr
0.74	DISV	Dimensional ETF Trust	Pair Corr
0.81	HEEM	iShares Currency Hedged	Pair Corr
0.71	AVUV	Avantis Small Cap	Pair Corr
0.68	TAXT	Northern Trust Tax	Pair Corr
0.89	UAUG	Innovator Equity Ultra	Pair Corr
0.79	DFE	WisdomTree Europe	Pair Corr
0.79	FEM	First Trust Emerging	Pair Corr
0.92	RSST	Return Stacked Stocks	Pair Corr
0.62	FUTS	Future Science Holdings	Pair Corr
0.68	LALT	Invesco Multi Strategy	Pair Corr
0.7	STXV	EA Series Trust	Pair Corr
0.74	FIDU	Fidelity MSCI Industrials	Pair Corr
0.75	ILOW	AB Active ETFs	Pair Corr
0.68	DOO	BRP Inc Symbol Change	Pair Corr
0.75	KNGZ	First Trust Exchange	Pair Corr
0.77	CCNR	CoreCommodity Natural	Pair Corr
0.79	IOCT	Innovator ETFs Trust	Pair Corr
0.68	DES	WisdomTree SmallCap	Pair Corr
0.84	HCMAX	THE HILLMAN FUND	Pair Corr

Moving against First Etf

0.72	MPAY	Exchange Traded Concepts	Pair Corr
0.71	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	YLDE	INDS	SOVF	GSEU	ABEQ	ALTL	YSEP	PHEQ	UFO	UPGD
YLDE		0.93	0.0	0.95	0.97	0.9	0.96	0.43	0.74	0.94	YLDE
INDS	0.93		0.02	0.88	0.95	0.89	0.91	0.32	0.73	0.92	INDS
SOVF	0.0	0.02		0.22	-0.11	0.08	0.23	0.68	0.6	0.26	SOVF
GSEU	0.95	0.88	0.22		0.91	0.9	0.99	0.59	0.87	0.95	GSEU
ABEQ	0.97	0.95	-0.11	0.91		0.88	0.92	0.29	0.67	0.9	ABEQ
ALTL	0.9	0.89	0.08	0.9	0.88		0.91	0.5	0.73	0.89	ALTL
YSEP	0.96	0.91	0.23	0.99	0.92	0.91		0.57	0.88	0.96	YSEP
PHEQ	0.43	0.32	0.68	0.59	0.29	0.5	0.57		0.71	0.55	PHEQ
UFO	0.74	0.73	0.6	0.87	0.67	0.73	0.88	0.71		0.86	UFO
UPGD	0.94	0.92	0.26	0.95	0.9	0.89	0.96	0.55	0.86		UPGD
	YLDE	INDS	SOVF	GSEU	ABEQ	ALTL	YSEP	PHEQ	UFO	UPGD

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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

YSEP	+ 0.99	GSEU
ABEQ	+ 0.97	YLDE
YSEP	+ 0.96	YLDE
UPGD	+ 0.96	YSEP
GSEU	+ 0.95	YLDE
ABEQ	+ 0.95	INDS

High negative correlations

ABEQ	- 0.11	SOVF
SOVF	- 0.0	YLDE

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	0.41	0.10	0.10	0.25	0.30	(0.46)	0.82	(0.82)	2.47
INDS	0.70	0.14	0.11	0.38	0.56	(0.78)	1.49	(0.98)	3.99
SOVF	0.74	(0.04)	(0.04)	0.04	0.90	(0.79)	1.65	(1.58)	4.38
GSEU	0.56	0.16	0.21	0.33	0.30	(0.68)	1.25	(1.01)	3.08
ABEQ	0.48	0.15	0.14	0.46	0.36	(0.54)	1.20	(1.00)	2.81
ALTL	0.68	0.21	0.14	(1.50)	0.62	(0.80)	1.87	(1.02)	4.80
YSEP	0.26	0.07	0.05	0.30	0.00	(0.32)	0.63	(0.45)	1.54
PHEQ	0.25	0.00	(0.14)	0.09	0.24	(0.28)	0.55	(0.46)	2.01
UFO	2.14	0.42	0.19	0.38	1.99	(2.33)	4.47	(3.56)	10.97
UPGD	0.61	0.09	0.10	0.20	0.52	(0.67)	1.59	(0.95)	3.87

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