First Trust Correlations

FXZ Etf

USD 78.18 0.35 0.45%

The current 90-days correlation between First Trust Materials and NuShares ETF Trust is 0.63 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Materials and DJI is 0.86 (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 Materials 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 Materials. 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

0.99	XLB	Materials Select Sector	Pair Corr
1.0	VAW	Vanguard Materials Index	Pair Corr
0.91	XME	SPDR SP Metals	Pair Corr
0.75	PHO	Invesco Water Resources	Pair Corr
0.97	MOO	VanEck Agribusiness ETF	Pair Corr
0.82	FIW	First Trust Water	Pair Corr
0.91	URNM	Sprott Uranium Miners	Pair Corr
1.0	IYM	iShares Basic Materials	Pair Corr
0.93	MULL	GraniteShares 2x Long	Pair Corr
0.84	FNGD	MicroSectors FANG Index	Pair Corr
0.84	BWET	ETF Managers Group Trending	Pair Corr
0.93	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.98	IOCT	Innovator ETFs Trust	Pair Corr
0.98	CFA	VictoryShares 500	Pair Corr
0.97	IJS	iShares SP Small	Pair Corr
0.75	LGCF	Themes Cash Flow	Pair Corr
0.82	DOO	BRP Inc Symbol Change	Pair Corr
0.98	DFIV	Dimensional International	Pair Corr
0.97	CVMC	Morgan Stanley ETF	Pair Corr
0.82	JETS	US Global Jets	Pair Corr
0.91	ISTB	iShares Core 1	Pair Corr
0.96	DXJ	WisdomTree Japan Hedged	Pair Corr
0.8	USO	United States Oil	Pair Corr
0.96	EAFG	Pacer Funds Trust	Pair Corr
0.97	AVMC	American Century ETF	Pair Corr
0.96	DES	WisdomTree SmallCap	Pair Corr
0.98	FEM	First Trust Emerging	Pair Corr
0.93	HCMAX	THE HILLMAN FUND	Pair Corr
0.98	STXV	EA Series Trust	Pair Corr
0.81	IYR	iShares Real Estate	Pair Corr
0.98	CCNR	CoreCommodity Natural	Pair Corr
0.78	GOCT	FT Cboe Vest	Pair Corr
0.96	AVUV	Avantis Small Cap	Pair Corr

Moving against First Etf

0.61

NEOS Investment Mana

Pair Corr

Related Correlations Analysis

	HEZU	IXG	IYZ	IYM	DWM	IAK	EES	REM	IHE	NUDM
HEZU		0.8	0.84	0.95	0.96	0.1	0.91	0.74	0.86	0.96	HEZU
IXG	0.8		0.6	0.72	0.74	0.38	0.85	0.68	0.64	0.75	IXG
IYZ	0.84	0.6		0.88	0.93	0.25	0.77	0.38	0.91	0.94	IYZ
IYM	0.95	0.72	0.88		0.98	0.03	0.89	0.73	0.92	0.97	IYM
DWM	0.96	0.74	0.93	0.98		0.14	0.9	0.66	0.93	1.0	DWM
IAK	0.1	0.38	0.25	0.03	0.14		0.14	-0.24	0.26	0.16	IAK
EES	0.91	0.85	0.77	0.89	0.9	0.14		0.75	0.81	0.9	EES
REM	0.74	0.68	0.38	0.73	0.66	-0.24	0.75		0.52	0.65	REM
IHE	0.86	0.64	0.91	0.92	0.93	0.26	0.81	0.52		0.92	IHE
NUDM	0.96	0.75	0.94	0.97	1.0	0.16	0.9	0.65	0.92		NUDM
	HEZU	IXG	IYZ	IYM	DWM	IAK	EES	REM	IHE	NUDM

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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

NUDM	+ 1.0	DWM
DWM	+ 0.98	IYM
NUDM	+ 0.97	IYM
DWM	+ 0.96	HEZU
NUDM	+ 0.96	HEZU
IYM	+ 0.95	HEZU

High negative correlations

REM

- 0.24

IAK

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
HEZU	0.55	0.18	0.08	(0.89)	0.50	(0.63)	1.44	(0.92)	4.61
IXG	0.65	0.08	(0.02)	4.22	0.76	(0.67)	1.28	(1.46)	3.52
IYZ	0.75	0.32	0.17	(9.56)	0.71	(0.81)	2.16	(1.55)	4.86
IYM	0.94	0.44	0.22	(1.50)	1.01	(1.05)	2.30	(2.31)	5.85
DWM	0.52	0.23	0.17	(1.24)	0.32	(0.61)	1.29	(1.09)	3.11
IAK	0.67	0.03	(0.09)	(0.73)	0.81	(0.73)	1.27	(0.91)	5.19
EES	0.81	0.16	0.07	3.81	0.69	(0.91)	2.49	(1.63)	4.79
REM	0.74	0.12	(0.01)	(0.37)	0.91	(0.87)	1.76	(1.20)	6.66
IHE	0.79	0.19	0.08	(1.20)	0.63	(0.81)	1.82	(1.25)	4.84
NUDM	0.59	0.22	0.12	(0.95)	0.49	(0.63)	1.35	(1.19)	3.05

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