First Trust Correlations

FXD Etf

USD 70.28 1.06 1.49%

The current 90-days correlation between First Trust Consumer and SPDR SP Retail is -0.1 (i.e., Good 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

Almost no diversification

The correlation between First Trust Consumer and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Consumer 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 Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with First Etf

0.76	XLY	Consumer Discretionary	Pair Corr
0.8	VCR	Vanguard Consumer	Pair Corr
0.67	ITB	iShares Home Construction	Pair Corr
0.8	FDIS	Fidelity MSCI Consumer	Pair Corr
0.71	XHB	SPDR SP Homebuilders	Pair Corr
0.82	IYC	iShares Consumer Dis	Pair Corr
0.9	PEJ	Invesco Dynamic Leisure	Pair Corr
0.93	XRT	SPDR SP Retail Sell-off Trend	Pair Corr
0.73	JNUG	Direxion Daily Junior	Pair Corr
0.67	GDXU	MicroSectors Gold Miners	Pair Corr
0.72	NUGT	Direxion Daily Gold	Pair Corr
0.69	GDMN	WisdomTree Efficient Gold	Pair Corr
0.61	FXC	Invesco CurrencyShares	Pair Corr
0.89	VTHR	Vanguard Russell 3000	Pair Corr
0.9	GAPR	First Trust Exchange	Pair Corr
0.72	BSMS	Invesco BulletShares 2028	Pair Corr
0.74	TAXT	Northern Trust Tax	Pair Corr
0.79	TSPX	Twin Oak Active	Pair Corr
0.84	SPVM	Invesco SP 500	Pair Corr
0.79	FPXE	First Trust IPOX	Pair Corr
0.69	UDI	USCF ETF Trust	Pair Corr
0.79	JPIE	JP Morgan Exchange Sell-off Trend	Pair Corr
0.9	VBK	Vanguard Small Cap	Pair Corr
0.72	XTWO	Bondbloxx ETF Trust	Pair Corr
0.8	PFF	iShares Preferred	Pair Corr
0.69	IBBQ	Invesco Nasdaq Biote	Pair Corr
0.83	WLTG	ETF Opportunities Trust	Pair Corr
0.71	FNDC	Schwab Fundamental	Pair Corr
0.83	TOCT	Innovator Equity Defined	Pair Corr

Moving against First Etf

0.78

RCD

Ready Capital

Pair Corr

Related Correlations Analysis

	FXN	FXG	FEP	FXZ	IDLV	RSPF	ENFR	EWN	FEMS	XRT
FXN		0.93	0.81	0.84	0.9	-0.14	0.96	0.78	0.87	0.41	FXN
FXG	0.93		0.78	0.83	0.88	-0.21	0.94	0.76	0.85	0.4	FXG
FEP	0.81	0.78		0.96	0.92	0.33	0.8	0.94	0.92	0.73	FEP
FXZ	0.84	0.83	0.96		0.93	0.28	0.81	0.96	0.96	0.74	FXZ
IDLV	0.9	0.88	0.92	0.93		0.11	0.91	0.85	0.89	0.57	IDLV
RSPF	-0.14	-0.21	0.33	0.28	0.11		-0.19	0.31	0.12	0.72	RSPF
ENFR	0.96	0.94	0.8	0.81	0.91	-0.19		0.74	0.84	0.36	ENFR
EWN	0.78	0.76	0.94	0.96	0.85	0.31	0.74		0.96	0.72	EWN
FEMS	0.87	0.85	0.92	0.96	0.89	0.12	0.84	0.96		0.64	FEMS
XRT	0.41	0.4	0.73	0.74	0.57	0.72	0.36	0.72	0.64		XRT
	FXN	FXG	FEP	FXZ	IDLV	RSPF	ENFR	EWN	FEMS	XRT

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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

ENFR	+ 0.96	FXN
FXZ	+ 0.96	FEP
EWN	+ 0.96	FXZ
FEMS	+ 0.96	FXZ
FEMS	+ 0.96	EWN
ENFR	+ 0.94	FXG

High negative correlations

RSPF	- 0.21	FXG
ENFR	- 0.19	RSPF
RSPF	- 0.14	FXN

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
FXN	1.24	0.27	0.16	0.63	1.17	(1.30)	2.76	(2.05)	6.12
FXG	0.63	0.13	0.12	1.73	0.53	(0.72)	1.36	(1.01)	3.78
FEP	0.68	0.19	0.15	(3.01)	0.66	(0.73)	1.66	(1.42)	3.84
FXZ	1.16	0.29	0.20	0.26	1.17	(1.28)	2.71	(2.51)	6.67
IDLV	0.40	0.11	0.16	0.42	0.21	(0.47)	0.85	(0.80)	2.69
RSPF	0.75	(0.05)	(0.06)	0.00	0.92	(0.80)	1.47	(1.56)	4.56
ENFR	0.74	0.25	0.21	(1.36)	0.52	(0.84)	1.82	(1.25)	4.04
EWN	0.92	0.10	0.08	0.14	1.08	(0.94)	2.01	(1.91)	5.25
FEMS	0.62	0.15	0.17	0.36	0.42	(0.73)	1.59	(0.99)	3.62
XRT	0.99	0.12	0.07	(37.03)	0.80	(1.38)	2.44	(1.67)	6.93

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