First Trust Correlations

FXH Etf

USD 109.44 0.61 0.56%

The current 90-days correlation between First Trust Health and First Trust Consumer is 0.62 (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 0.66 (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.

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 interest.

Moving together with First Etf

0.75	XLV	Health Care Select	Pair Corr
0.79	VHT	Vanguard Health Care	Pair Corr
0.81	IBB	iShares Biotechnology ETF	Pair Corr
0.75	XBI	SPDR SP Biotech	Pair Corr
0.73	IXJ	iShares Global Healthcare	Pair Corr
0.76	IYH	iShares Healthcare ETF	Pair Corr
0.79	FHLC	Fidelity MSCI Health	Pair Corr
0.91	ARKG	ARK Genomic Revolution Low Volatility	Pair Corr
0.86	IHF	iShares Healthcare	Pair Corr

Moving against First Etf

0.7	DSJA	DSJA	Pair Corr
0.66	RSPY	Tuttle Capital Management	Pair Corr
0.54	MEME	Roundhill Investments	Pair Corr
0.67	T	ATT Inc Aggressive Push	Pair Corr
0.59	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.58	WMT	Walmart Aggressive Push	Pair Corr
0.54	HD	Home Depot	Pair Corr
0.52	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.51	DIS	Walt Disney	Pair Corr
0.5	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.46	HPQ	HP Inc	Pair Corr
0.46	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.45	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.44	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.4	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	FXG	FXD	FXL	FXO	FBT
FXG		0.24	0.1	0.21	0.13	FXG
FXD	0.24		0.94	0.9	0.34	FXD
FXL	0.1	0.94		0.94	0.33	FXL
FXO	0.21	0.9	0.94		0.17	FXO
FBT	0.13	0.34	0.33	0.17		FBT
	FXG	FXD	FXL	FXO	FBT

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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
FXG	0.48	(0.02)	(0.12)	0.05	0.57	(0.47)	0.87	(1.04)	2.78
FXD	0.70	0.01	(0.01)	0.11	0.64	(0.80)	1.51	(1.27)	3.96
FXL	0.90	0.03	0.04	0.12	1.24	(0.88)	1.96	(1.78)	5.45
FXO	0.87	0.08	0.14	0.15	0.62	(0.99)	1.78	(1.42)	9.52
FBT	0.78	(0.13)	0.00	(0.07)	0.00	0.00	1.55	(1.72)	6.85

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