First Trust Correlations

FXH Etf

USD 113.62 0.91 0.79%

The current 90-days correlation between First Trust Health and Vanguard SP Small Cap is 0.68 (i.e., Poor 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

Poor diversification

The correlation between First Trust Health and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Health 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 Health. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with First Etf

0.84	XLV	Health Care Select	Pair Corr
0.85	VHT	Vanguard Health Care	Pair Corr
0.85	IBB	iShares Biotechnology ETF	Pair Corr
0.83	XBI	SPDR SP Biotech	Pair Corr
0.88	IXJ	iShares Global Healthcare	Pair Corr
0.88	IYH	iShares Healthcare ETF	Pair Corr
0.85	FHLC	Fidelity MSCI Health	Pair Corr
0.68	ARKG	ARK Genomic Revolution	Pair Corr
0.64	VTI	Vanguard Total Stock	Pair Corr
0.69	BND	Vanguard Total Bond	Pair Corr
0.62	TOT	Advisor Managed Port	Pair Corr
0.75	VTV	Vanguard Value Index	Pair Corr
0.66	VO	Vanguard Mid Cap	Pair Corr
0.74	GAPR	First Trust Exchange	Pair Corr
0.65	GAL	SPDR SSgA Global	Pair Corr
0.66	HCRB	Hartford Core Bond	Pair Corr
0.69	IAPR	Innovator MSCI EAFE	Pair Corr
0.61	PEY	Invesco High Yield	Pair Corr
0.78	HCOW	Amplify Cash Flow	Pair Corr
0.75	DIVD	Altrius Global Dividend	Pair Corr

Moving against First Etf

0.55

IRE

Tidal Trust II Trending

Pair Corr

Related Correlations Analysis

	FYX	TOUS	UYG	HAUZ	APIE	EIPI	AIA	QEFA	VTWV	VIOG
FYX		0.89	0.6	0.85	0.9	0.64	0.75	0.93	1.0	0.98	FYX
TOUS	0.89		0.5	0.93	0.96	0.7	0.88	0.97	0.89	0.84	TOUS
UYG	0.6	0.5		0.41	0.46	0.0	0.23	0.55	0.53	0.56	UYG
HAUZ	0.85	0.93	0.41		0.96	0.71	0.91	0.94	0.87	0.84	HAUZ
APIE	0.9	0.96	0.46	0.96		0.7	0.94	0.97	0.9	0.87	APIE
EIPI	0.64	0.7	0.0	0.71	0.7		0.67	0.74	0.68	0.61	EIPI
AIA	0.75	0.88	0.23	0.91	0.94	0.67		0.85	0.77	0.73	AIA
QEFA	0.93	0.97	0.55	0.94	0.97	0.74	0.85		0.93	0.89	QEFA
VTWV	1.0	0.89	0.53	0.87	0.9	0.68	0.77	0.93		0.98	VTWV
VIOG	0.98	0.84	0.56	0.84	0.87	0.61	0.73	0.89	0.98		VIOG
	FYX	TOUS	UYG	HAUZ	APIE	EIPI	AIA	QEFA	VTWV	VIOG

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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

VTWV	+ 1.0	FYX
VIOG	+ 0.98	FYX
VIOG	+ 0.98	VTWV
QEFA	+ 0.97	TOUS
QEFA	+ 0.97	APIE
APIE	+ 0.96	TOUS

High negative correlations

EIPI

- 0.0

UYG

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
FYX	0.86	0.05	0.07	0.10	0.84	(1.01)	2.06	(1.57)	4.79
TOUS	0.58	0.12	0.11	1.02	0.53	(0.64)	1.29	(1.18)	2.72
UYG	1.34	(0.09)	(0.02)	0.00	1.94	(1.25)	2.44	(3.41)	8.45
HAUZ	0.49	0.05	0.04	0.15	0.60	(0.49)	0.99	(1.13)	2.76
APIE	0.64	0.08	0.08	0.15	0.67	(0.68)	1.31	(1.04)	3.18
EIPI	0.51	0.11	0.12	0.62	0.35	(0.61)	1.06	(0.84)	2.83
AIA	0.97	0.18	0.16	0.27	0.85	(1.11)	2.37	(1.68)	5.95
QEFA	0.54	0.09	0.11	0.20	0.44	(0.62)	1.06	(1.14)	2.87
VTWV	0.81	0.07	0.08	0.11	0.78	(0.96)	1.98	(1.41)	4.66
VIOG	0.79	0.00	0.01	0.05	0.93	(0.79)	1.77	(1.58)	4.87

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