First Trust Correlations

Etfs . USA . 
Etf . First Trust Technology
FXL Etf  USD 168.28  2.22  1.30%   
The current 90-days correlation between First Trust Technology and First Trust Utilities is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Technology and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Technology and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Technology. 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

  0.9FTEC Fidelity MSCI InformationPairCorr
  0.67IGV iShares Expanded TechPairCorr
  0.64ITWO Proshares Russell 2000PairCorr
  0.61INTC Intel Aggressive PushPairCorr

Related Correlations Analysis


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

QVML
+ 0.99
USPX
KLMT
+ 0.97
USPX
KLMT
+ 0.97
QVML
PKW
+ 0.94
FXR
USPX
+ 0.86
FEX
BUFD
+ 0.86
FEX
  

High negative correlations

BUFD
- 0.58
FXU
PKW
- 0.56
FXU
FEX
- 0.55
FXU
QVML
- 0.5
FXU
FXR
- 0.5
FXU
USPX
- 0.49
FXU

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FXU  0.54 (0.01)(0.07) 0.02  0.71 
(0.54)
 1.04 
(1.14)
 3.35 
FEX  0.69 (0.02)(0.02) 0.04  0.96 
(0.66)
 1.25 
(1.37)
 3.43 
FXR  0.82  0.03 (0.01) 0.15  1.06 
(0.80)
 1.69 
(1.85)
 4.31 
FTC  0.97  0.01 (0.04)(0.05) 1.36 
(1.00)
 1.79 
(2.35)
 5.20 
USPX  0.60 (0.03)(0.04) 0.02  0.83 
(0.61)
 1.33 
(1.16)
 3.30 
BUFD  0.22  0.01 (0.09) 0.08  0.23 
(0.23)
 0.54 
(0.51)
 1.27 
QVML  0.55 (0.03)(0.04) 0.02  0.78 
(0.53)
 1.20 
(1.05)
 3.04 
KLMT  0.56  0.01 (0.04) 0.21  0.86 
(0.51)
 1.16 
(1.26)
 3.21 
PKW  0.65  0.00 (0.05) 0.08  0.83 
(0.72)
 1.27 
(1.46)
 3.65 
FXH  0.70  0.01  0.01  0.07  0.78 
(0.75)
 1.88 
(1.30)
 4.18 

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