First Trust Correlations

FXH Etf

USD 118.84 2.45 2.10%

The current 90-days correlation between First Trust Health and First Trust Small is 0.72 (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 0.72 (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 discontinued.

Moving together with First Etf

0.8	XLV	Health Care Select	Pair Corr
0.81	VHT	Vanguard Health Care	Pair Corr
0.74	IBB	iShares Biotechnology ETF	Pair Corr
0.74	XBI	SPDR SP Biotech	Pair Corr
0.82	IHI	iShares Medical Devices	Pair Corr
0.83	IXJ	iShares Global Healthcare	Pair Corr
0.81	IYH	iShares Healthcare ETF	Pair Corr
0.81	FHLC	Fidelity MSCI Health	Pair Corr
0.66	VTV	Vanguard Value Index	Pair Corr
0.66	VB	Vanguard Small Cap	Pair Corr
0.69	DDFO	Innovator Equity Dual	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.83	MRK	Merck Company	Pair Corr
0.65	WMT	Walmart Common Stock	Pair Corr

Moving against First Etf

0.55	HPQ	HP Inc	Pair Corr
0.49	HD	Home Depot	Pair Corr

Related Correlations Analysis

	FYX	TOUS	UYG	HAUZ	APIE	EIPI	AIA	QEFA	VTWV	VIOG
FYX		0.86	0.85	0.62	0.79	0.36	0.37	0.8	0.99	0.95	FYX
TOUS	0.86		0.91	0.76	0.95	0.42	0.61	0.93	0.82	0.76	TOUS
UYG	0.85	0.91		0.68	0.84	0.24	0.44	0.84	0.85	0.82	UYG
HAUZ	0.62	0.76	0.68		0.8	0.16	0.59	0.65	0.61	0.68	HAUZ
APIE	0.79	0.95	0.84	0.8		0.28	0.79	0.84	0.75	0.75	APIE
EIPI	0.36	0.42	0.24	0.16	0.28		0.07	0.47	0.32	0.2	EIPI
AIA	0.37	0.61	0.44	0.59	0.79	0.07		0.47	0.3	0.34	AIA
QEFA	0.8	0.93	0.84	0.65	0.84	0.47	0.47		0.75	0.66	QEFA
VTWV	0.99	0.82	0.85	0.61	0.75	0.32	0.3	0.75		0.96	VTWV
VIOG	0.95	0.76	0.82	0.68	0.75	0.2	0.34	0.66	0.96		VIOG
	FYX	TOUS	UYG	HAUZ	APIE	EIPI	AIA	QEFA	VTWV	VIOG

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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
FYX	0.95	(0.01)	0.02	0.08	1.05	(1.07)	2.06	(1.89)	4.61
TOUS	0.58	0.02	0.00	0.11	0.63	(0.63)	1.13	(1.18)	2.77
UYG	1.33	(0.01)	0.04	0.08	1.92	(1.35)	2.44	(3.41)	7.73
HAUZ	0.52	(0.01)	(0.07)	0.07	0.59	(0.54)	1.01	(1.11)	2.86
APIE	0.69	0.00	(0.01)	0.08	0.87	(0.70)	1.48	(1.17)	3.73
EIPI	0.48	0.00	(0.10)	0.08	0.54	(0.53)	1.06	(1.02)	2.81
AIA	1.08	0.03	0.03	0.11	1.43	(1.11)	1.98	(1.68)	6.83
QEFA	0.51	0.06	(0.02)	0.34	0.55	(0.55)	0.92	(1.00)	2.35
VTWV	0.91	(0.02)	0.00	0.07	1.00	(1.07)	2.02	(1.90)	4.51
VIOG	0.86	(0.06)	(0.03)	0.04	1.02	(0.89)	1.77	(1.58)	4.63

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