First Trust Correlations

FXG Etf

USD 64.03 0.45 0.71%

The current 90-days correlation between First Trust Consumer and First Trust Consumer is 0.54 (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

Weak diversification

The correlation between First Trust Consumer and DJI is 0.37 (i.e., 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.

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 interest.

Moving together with First Etf

0.88	XLP	Consumer Staples Select Aggressive Push	Pair Corr
0.83	VDC	Vanguard Consumer Staples	Pair Corr
0.93	IYK	iShares Consumer Staples	Pair Corr
0.82	KXI	iShares Global Consumer	Pair Corr
0.83	FSTA	Fidelity MSCI Consumer	Pair Corr
0.82	FTXG	First Trust Nasdaq	Pair Corr
0.78	RHS	Invesco SP 500	Pair Corr
0.86	PBJ	Invesco Dynamic Food	Pair Corr
0.75	NIXT	Research Affiliates	Pair Corr
0.65	BUFS	BUFS	Pair Corr
0.66	FSCC	Federated Hermes ETF	Pair Corr
0.75	IJR	iShares Core SP	Pair Corr
0.68	VIOV	Vanguard SP Small	Pair Corr
0.71	EZM	WisdomTree MidCap	Pair Corr

Moving against First Etf

0.59	TSJA	TSJA	Pair Corr
0.58	DSJA	DSJA	Pair Corr
0.51	XDJA	Innovator ETFs Trust	Pair Corr
0.47	XTJA	Innovator ETFs Trust	Pair Corr
0.45	QTJA	Innovator ETFs Trust	Pair Corr
0.7	OBIL	US Treasury 12	Pair Corr
0.64	BIL	SPDR Bloomberg 1	Pair Corr
0.41	APRD	Innovator Etfs Trust	Pair Corr

Related Correlations Analysis

	FXD	FXH	FXU	FXR	FXO
FXD		0.28	0.62	0.7	0.84	FXD
FXH	0.28		0.58	0.78	0.51	FXH
FXU	0.62	0.58		0.81	0.83	FXU
FXR	0.7	0.78	0.81		0.9	FXR
FXO	0.84	0.51	0.83	0.9		FXO
	FXD	FXH	FXU	FXR	FXO

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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
FXD	0.69	0.04	0.02	0.14	0.82	(0.81)	1.55	(1.26)	5.91
FXH	0.67	(0.04)	0.00	(0.08)	0.00	0.00	1.22	(1.71)	3.60
FXU	0.79	(0.02)	(0.03)	(0.02)	1.02	(0.88)	1.63	(2.03)	4.27
FXR	0.79	0.02	0.01	0.06	0.91	(0.94)	1.79	(1.29)	7.93
FXO	0.93	0.07	0.05	0.18	1.08	(1.09)	1.75	(1.47)	11.73

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