First Trust Correlations

FXO Etf

USD 60.16 0.13 0.22%

The current 90-days correlation between First Trust Financials and Xtrackers Harvest CSI is 0.34 (i.e., Weak 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 Financials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Financials and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Financials 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 Financials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in median.

Moving together with First Etf

0.81	XLF	Financial Select Sector Sell-off Trend	Pair Corr
0.88	VFH	Vanguard Financials Index	Pair Corr
0.82	KRE	SPDR SP Regional	Pair Corr
0.89	KBE	SPDR SP Bank	Pair Corr
0.92	IYF	iShares Financials ETF	Pair Corr
0.87	FNCL	Fidelity MSCI Financials	Pair Corr
0.87	IYG	iShares Financial	Pair Corr
0.85	IAT	iShares Regional Banks	Pair Corr
0.96	IXG	iShares Global Financials	Pair Corr
0.68	PSLV	Sprott Physical Silver	Pair Corr
0.65	WNTR	YieldMax MSTR Short Downward Rally	Pair Corr
0.68	SPPP	Sprott Physical Platinum	Pair Corr
0.67	GMET	VanEck Vectors ETF Symbol Change	Pair Corr
0.68	SPIN	SPDR SSGA Equity	Pair Corr
0.75	FXC	Invesco CurrencyShares	Pair Corr
0.61	QLV	FlexShares Quality Low	Pair Corr
0.89	SIXJ	AIM ETF Products	Pair Corr
0.69	GENW	Spinnaker ETF Series	Pair Corr
0.75	EURL	Direxion Daily FTSE	Pair Corr
0.83	IQSZ	Invesco Actively Managed	Pair Corr
0.7	IRTR	iShares Trust	Pair Corr
0.76	TLCI	Touchstone ETF Trust	Pair Corr
0.77	WDNA	WisdomTree BioRevolution	Pair Corr
0.89	UMAY	Innovator ETFs Trust	Pair Corr
0.61	LVHI	Franklin International	Pair Corr
0.88	JANW	AIM ETF Products	Pair Corr
0.66	BMVP	Invesco Bloomberg MVP	Pair Corr
0.65	DBA	Invesco DB Agriculture	Pair Corr
0.67	FNDC	Schwab Fundamental	Pair Corr
0.67	BSMS	Invesco BulletShares 2028	Pair Corr
0.78	JEPI	JPMorgan Equity Premium	Pair Corr

Moving against First Etf

0.56	MRAL	GraniteShares 2x Long Buyout Trend	Pair Corr
0.51	IMRA	Bitwise Funds Trust	Pair Corr
0.54	XLU	Utilities Select Sector Aggressive Push	Pair Corr

Related Correlations Analysis

	FXU	FXR	FXL	PXF	VSTCX	XSOE	TNA	IHDG	ASHR
FXU		0.31	-0.35	0.44	0.1	0.5	0.13	0.25	0.18	FXU
FXR	0.31		0.46	0.96	0.93	0.92	0.93	0.97	0.88	FXR
FXL	-0.35	0.46		0.33	0.55	0.38	0.69	0.5	0.58	FXL
PXF	0.44	0.96	0.33		0.88	0.96	0.84	0.93	0.85	PXF
VSTCX	0.1	0.93	0.55	0.88		0.83	0.9	0.94	0.89	VSTCX
XSOE	0.5	0.92	0.38	0.96	0.83		0.82	0.92	0.9	XSOE
TNA	0.13	0.93	0.69	0.84	0.9	0.82		0.91	0.83	TNA
IHDG	0.25	0.97	0.5	0.93	0.94	0.92	0.91		0.93	IHDG
ASHR	0.18	0.88	0.58	0.85	0.89	0.9	0.83	0.93		ASHR
	FXU	FXR	FXL	PXF	VSTCX	XSOE	TNA	IHDG	ASHR

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

IHDG	+ 0.97	FXR
PXF	+ 0.96	FXR
XSOE	+ 0.96	PXF
IHDG	+ 0.94	VSTCX
VSTCX	+ 0.93	FXR
TNA	+ 0.93	FXR

High negative correlations

FXL

- 0.35

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FXU	0.61	0.08	0.02	(0.76)	0.75	(0.63)	1.16	(1.16)	3.28
FXR	0.91	0.17	0.18	0.19	0.70	(1.04)	2.29	(1.61)	5.33
FXL	1.13	(0.13)	0.00	(0.04)	0.00	0.00	1.89	(2.96)	8.11
PXF	0.64	0.21	0.25	0.35	0.47	(0.77)	1.64	(1.16)	3.36
VSTCX	0.88	0.16	0.17	0.22	0.68	(1.10)	2.25	(1.62)	7.93
XSOE	0.67	0.11	0.11	0.24	0.61	(0.74)	1.50	(1.22)	4.40
TNA	2.77	0.11	0.07	0.09	3.21	(2.86)	5.88	(5.62)	16.60
IHDG	0.60	0.05	0.05	0.13	0.73	(0.63)	1.48	(1.22)	4.21
ASHR	0.66	0.02	(0.03)	0.11	0.75	(0.69)	1.25	(1.18)	2.96

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