First Trust Correlations

Etfs . USA . 
Etf . First Trust Consumer
FXG Etf  USD 67.22  0.98  1.44%   
The current 90-days correlation between First Trust Consumer and American Century ETF is 0.47 (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 weak diversification

The correlation between First Trust Consumer and DJI is 0.45 (i.e., Very weak 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

  0.98XLP Consumer Staples SelectPairCorr
  0.73VDC Vanguard Consumer StaplesPairCorr
  0.79IYK iShares Consumer StaplesPairCorr
  0.97KXI iShares Global ConsumerPairCorr
  0.73FSTA Fidelity MSCI ConsumerPairCorr
  0.98FTXG First Trust NasdaqPairCorr
  0.7RHS Invesco SP 500PairCorr
  0.98PBJ Invesco Dynamic FoodPairCorr
  0.95PSL Invesco DWA ConsumerPairCorr
  0.78DHF BNY Mellon HighPairCorr
  0.82ARP Advisors Inner CirclePairCorr
  0.77IGA Voya Global AdvantagePairCorr
  0.66CTEX ProShares SP KenshoPairCorr
  0.7PMIO PGIM ETF TrustPairCorr
  0.77ESML iShares ESG AwarePairCorr
  0.69PFF iShares PreferredPairCorr
  0.95EIPI First Trust ExchangePairCorr
  0.66IBBQ Invesco Nasdaq BiotePairCorr
  0.79JPIE JP Morgan ExchangePairCorr
  0.84SCZ iShares MSCI EAFEPairCorr
  0.88FIDU Fidelity MSCI IndustrialsPairCorr
  0.89GENW Spinnaker ETF SeriesPairCorr

Moving against First Etf

  0.39ENTR EntrepreneurSharesPairCorr
  0.38MAGS Roundhill MagnificentPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FXN  1.21  0.28  0.15 (0.95) 1.14 
(1.28)
 2.76 
(2.05)
 6.12 
FXD  0.89  0.18  0.14 (0.63) 0.71 
(1.07)
 2.05 
(1.28)
 5.66 
FXZ  1.16  0.42  0.25  3.57  1.09 
(1.33)
 2.71 
(2.51)
 6.67 
FEMS  0.64  0.19  0.21  1.24  0.39 
(0.76)
 1.59 
(0.99)
 3.62 
PPIE  0.56  0.20  0.18  8.04  0.52 
(0.62)
 1.40 
(1.06)
 3.40 
KBA  0.67  0.06  0.01 (0.69) 0.70 
(0.75)
 1.42 
(1.28)
 3.05 
CSB  0.67  0.23  0.26 (0.73) 0.31 
(0.83)
 1.94 
(0.82)
 4.07 
BKGI  0.49  0.20  0.33 (10.75) 0.00 
(0.62)
 1.34 
(0.69)
 2.28 
IWMI  0.71  0.10  0.07  0.72  0.79 
(0.78)
 1.75 
(1.67)
 4.50 
AVMV  0.70  0.25  0.28 (0.89) 0.37 
(0.91)
 1.86 
(1.02)
 4.26 

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