First Trust Correlations

FXG Etf

USD 60.96 0.28 0.46%

The current 90-days correlation between First Trust Consumer and First Trust Energy is -0.07 (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

Average diversification

The correlation between First Trust Consumer and DJI is 0.14 (i.e., Average 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 discontinued.

Moving together with First Etf

0.65	XLP	Consumer Staples Select	Pair Corr
0.79	IYK	iShares Consumer Staples	Pair Corr
0.61	FTXG	First Trust Nasdaq	Pair Corr
0.62	RHS	Invesco SP 500	Pair Corr
0.71	PSL	Invesco DWA Consumer	Pair Corr

Moving against First Etf

0.5	PULS	PGIM Ultra Short	Pair Corr
0.49	MDBX	Tradr 2X Long	Pair Corr
0.48	CALI	iShares Short Term	Pair Corr
0.46	BITI	ProShares Trust	Pair Corr
0.45	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.36	CPSR	Calamos SP 500	Pair Corr
0.57	DD	Dupont De Nemours	Pair Corr
0.54	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.51	CAT	Caterpillar	Pair Corr
0.49	CSCO	Cisco Systems	Pair Corr
0.39	BAC	Bank of America	Pair Corr
0.37	AXP	American Express	Pair Corr
0.35	CPSL	Calamos Laddered	Pair Corr
0.35	MRK	Merck Company	Pair Corr
0.31	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	FXN	FXD	FXZ	FEMS	PPIE	KBA	CSB	BKGI	IWMI	AVMV
FXN		0.41	0.44	0.21	0.44	0.45	0.59	0.56	0.45	0.64	FXN
FXD	0.41		0.91	0.39	0.81	0.58	0.94	0.25	0.88	0.91	FXD
FXZ	0.44	0.91		0.33	0.82	0.61	0.9	0.31	0.86	0.93	FXZ
FEMS	0.21	0.39	0.33		0.16	0.13	0.32	-0.4	0.13	0.24	FEMS
PPIE	0.44	0.81	0.82	0.16		0.82	0.77	0.56	0.85	0.85	PPIE
KBA	0.45	0.58	0.61	0.13	0.82		0.53	0.53	0.62	0.67	KBA
CSB	0.59	0.94	0.9	0.32	0.77	0.53		0.35	0.85	0.94	CSB
BKGI	0.56	0.25	0.31	-0.4	0.56	0.53	0.35		0.42	0.5	BKGI
IWMI	0.45	0.88	0.86	0.13	0.85	0.62	0.85	0.42		0.92	IWMI
AVMV	0.64	0.91	0.93	0.24	0.85	0.67	0.94	0.5	0.92		AVMV
	FXN	FXD	FXZ	FEMS	PPIE	KBA	CSB	BKGI	IWMI	AVMV

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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

CSB	+ 0.94	FXD
AVMV	+ 0.94	CSB
AVMV	+ 0.93	FXZ
AVMV	+ 0.92	IWMI
FXZ	+ 0.91	FXD
AVMV	+ 0.91	FXD

High negative correlations

BKGI

- 0.4

FEMS

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	1.15	0.02	0.00	0.09	1.63	(1.04)	2.31	(2.20)	6.13
FXD	0.87	(0.05)	(0.04)	0.01	1.04	(0.92)	2.04	(1.73)	4.45
FXZ	1.10	0.04	0.05	0.08	1.21	(1.17)	2.52	(2.51)	5.85
FEMS	0.63	(0.05)	0.00	(5.04)	0.00	0.00	1.28	(1.53)	3.56
PPIE	0.57	0.02	0.02	0.08	0.74	(0.59)	1.13	(1.45)	2.88
KBA	0.79	0.05	0.02	0.14	1.16	(0.80)	1.52	(1.45)	5.28
CSB	0.64	(0.04)	(0.05)	0.01	0.84	(0.72)	1.38	(1.52)	3.47
BKGI	0.45	0.07	0.06	0.34	0.33	(0.53)	1.04	(0.68)	2.59
IWMI	0.78	0.00	0.01	0.06	0.94	(0.80)	1.73	(1.70)	4.64
AVMV	0.72	0.01	0.02	0.07	0.90	(0.74)	1.80	(1.35)	3.75

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