First Trust Correlations

FYC Etf

USD 99.84 0.41 0.41%

The current 90-days correlation between First Trust Small and First Trust Mid is 0.95 (i.e., Almost no 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 Small and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Small 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 Small. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with First Etf

0.91	VBK	Vanguard Small Cap	Pair Corr
0.88	IWO	iShares Russell 2000	Pair Corr
0.94	IJT	iShares SP Small	Pair Corr
0.83	SLYG	SPDR SP 600	Pair Corr
0.83	JKK	iShares Morningstar	Pair Corr
0.88	VTWG	Vanguard Russell 2000	Pair Corr
0.87	VRTGX	Vanguard Russell 2000	Pair Corr
0.84	VIOG	Vanguard SP Small	Pair Corr
0.84	ISCG	iShares Morningstar	Pair Corr
0.77	LENS	Sarmaya Thematic ETF	Pair Corr
0.75	ASA	ASA Gold	Pair Corr
0.9	MAPP	Harbor ETF Trust	Pair Corr
0.78	SNPD	DBX ETF Trust	Pair Corr
0.89	DDFO	Innovator Equity Dual	Pair Corr
0.67	CALI	iShares Short Term	Pair Corr
0.89	PJFM	PGIM ETF Trust	Pair Corr
0.78	CPSL	Calamos Laddered	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.65	AXP	American Express	Pair Corr

Moving against First Etf

0.63	SWIN	Alps Symbol Change	Pair Corr
0.6	T	ATT Inc	Pair Corr
0.32	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	FNY	FEM	FDT	LVHD	IMFL	LGH	PPH	VFVA	SSUS	IHE
FNY		0.23	0.41	0.31	0.34	0.63	-0.03	0.52	0.79	-0.04	FNY
FEM	0.23		0.77	-0.26	0.82	0.6	0.58	0.56	0.57	0.49	FEM
FDT	0.41	0.77		-0.17	0.94	0.76	0.82	0.9	0.72	0.8	FDT
LVHD	0.31	-0.26	-0.17		-0.19	-0.17	-0.12	0.13	0.0	-0.16	LVHD
IMFL	0.34	0.82	0.94	-0.19		0.71	0.75	0.83	0.68	0.72	IMFL
LGH	0.63	0.6	0.76	-0.17	0.71		0.42	0.67	0.96	0.43	LGH
PPH	-0.03	0.58	0.82	-0.12	0.75	0.42		0.76	0.3	0.98	PPH
VFVA	0.52	0.56	0.9	0.13	0.83	0.67	0.76		0.68	0.77	VFVA
SSUS	0.79	0.57	0.72	0.0	0.68	0.96	0.3	0.68		0.29	SSUS
IHE	-0.04	0.49	0.8	-0.16	0.72	0.43	0.98	0.77	0.29		IHE
	FNY	FEM	FDT	LVHD	IMFL	LGH	PPH	VFVA	SSUS	IHE

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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

IHE	+ 0.98	PPH
SSUS	+ 0.96	LGH
IMFL	+ 0.94	FDT
VFVA	+ 0.9	FDT
VFVA	+ 0.83	IMFL
IMFL	+ 0.82	FEM

High negative correlations

LVHD	- 0.26	FEM
IMFL	- 0.19	LVHD
LGH	- 0.17	LVHD
LVHD	- 0.17	FDT
IHE	- 0.16	LVHD
PPH	- 0.12	LVHD

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
FNY	1.14	(0.05)	(0.01)	0.03	1.38	(1.16)	1.94	(2.29)	6.47
FEM	0.75	0.07	0.01	1.05	0.98	(0.73)	1.62	(1.59)	4.97
FDT	0.67	0.07	0.05	0.15	0.87	(0.62)	1.35	(1.61)	3.39
LVHD	0.45	(0.07)	0.00	(0.12)	0.00	0.00	0.91	(0.95)	2.59
IMFL	0.64	0.13	0.08	0.95	0.72	(0.67)	1.17	(1.41)	2.79
LGH	0.82	(0.02)	(0.01)	0.04	1.21	(0.78)	1.79	(1.68)	4.62
PPH	0.68	0.14	0.17	0.32	0.38	(0.81)	1.87	(1.13)	4.20
VFVA	0.74	0.01	0.01	0.07	0.84	(0.82)	1.49	(1.23)	3.68
SSUS	0.59	(0.03)	(0.04)	0.03	0.86	(0.56)	1.21	(1.23)	3.12
IHE	0.75	0.17	0.17	0.41	0.50	(0.83)	1.82	(1.17)	4.45

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