First Trust Correlations

FXU Etf

USD 50.48 0.03 0.06%

The current 90-days correlation between First Trust Utilities and iShares Global Utilities is 0.86 (i.e., Very 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Utilities and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Utilities 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 Utilities. 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

0.95	XLU	Utilities Select Sector Aggressive Push	Pair Corr
0.95	VPU	Vanguard Utilities Index	Pair Corr
0.9	FUTY	Fidelity MSCI Utilities	Pair Corr
0.96	IDU	iShares Utilities ETF	Pair Corr
0.98	JXI	iShares Global Utilities	Pair Corr
0.96	PUI	Invesco DWA Utilities	Pair Corr
0.63	UTES	Virtus Reaves Utilities	Pair Corr
0.67	LENS	Sarmaya Thematic ETF	Pair Corr
0.67	MAPP	Harbor ETF Trust	Pair Corr
0.82	SNPD	DBX ETF Trust	Pair Corr
0.64	EVUS	iShares ESG Aware	Pair Corr
0.7	FTCS	First Trust Capital	Pair Corr
0.9	DOGG	First Trust Exchange	Pair Corr
0.62	FNX	First Trust Mid	Pair Corr
0.81	VFMV	Vanguard Minimum Vol	Pair Corr
0.92	AGG	iShares Core Aggregate	Pair Corr
0.64	CLOC	ETF Series Solutions	Pair Corr
0.71	HFMF	Unlimited HFMF Managed	Pair Corr
0.82	WEEI	Westwood Salient Enhanced	Pair Corr
0.75	ASIA	Matthews International	Pair Corr
0.67	VLU	SPDR SP 1500	Pair Corr
0.7	IOCT	Innovator ETFs Trust	Pair Corr
0.77	FEM	First Trust Emerging	Pair Corr
0.81	PID	Invesco International	Pair Corr
0.73	SMB	VanEck Short Muni	Pair Corr
0.94	IYR	iShares Real Estate	Pair Corr
0.88	FOPC	Advisors Inner	Pair Corr
0.69	DFLV	Dimensional ETF Trust	Pair Corr

Moving against First Etf

0.64	SWIN	Alps Symbol Change	Pair Corr
0.71	CRCO	Tidal Trust II Trending	Pair Corr

Related Correlations Analysis

	XLU	VPU	IDU	JXI
XLU		1.0	1.0	0.91	XLU
VPU	1.0		1.0	0.91	VPU
IDU	1.0	1.0		0.93	IDU
JXI	0.91	0.91	0.93		JXI
	XLU	VPU	IDU	JXI

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
XLU	0.73	0.10	0.00	0.82	0.86	(0.77)	1.45	(1.46)	4.42
VPU	0.72	0.09	(0.01)	0.70	0.85	(0.74)	1.47	(1.47)	4.38
IDU	0.70	0.09	0.00	0.65	0.81	(0.76)	1.27	(1.30)	4.18
JXI	0.60	0.15	0.09	0.85	0.40	(0.70)	1.37	(0.92)	3.34

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