First Trust Correlations

FYC Etf

USD 100.52 1.53 1.50%

The current 90-days correlation between First Trust Small and iShares Pharmaceuticals ETF is 0.26 (i.e., Modest 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

Almost no diversification

The correlation between First Trust Small and DJI is 0.9 (i.e., Almost no 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 services.

Moving together with First Etf

0.97	VBK	Vanguard Small Cap	Pair Corr
0.95	IWO	iShares Russell 2000	Pair Corr
0.89	IJT	iShares SP Small	Pair Corr
0.89	SLYG	SPDR SP 600	Pair Corr
0.92	PBW	Invesco WilderHill Clean	Pair Corr
0.98	JKK	iShares Morningstar	Pair Corr
0.95	VTWG	Vanguard Russell 2000	Pair Corr
0.94	VRTGX	Vanguard Russell 2000	Pair Corr
0.89	VIOG	Vanguard SP Small	Pair Corr
0.98	ISCG	iShares Morningstar	Pair Corr
0.65	UPRO	ProShares UltraPro SP500	Pair Corr
0.66	QTOC	Innovator ETFs Trust	Pair Corr
0.9	XTOC	Innovator ETFs Trust	Pair Corr
0.9	QTAP	Innovator Growth 100	Pair Corr
0.87	XTJA	Innovator ETFs Trust	Pair Corr
0.88	XTAP	Innovator Equity Acc	Pair Corr
0.79	IYM	iShares Basic Materials	Pair Corr
0.76	FTCS	First Trust Capital	Pair Corr
0.72	SMB	VanEck Short Muni	Pair Corr
0.8	VWO	Vanguard FTSE Emerging	Pair Corr
0.75	YDEC	First Trust Exchange	Pair Corr
0.71	MNZL	Manzil Russell Halal	Pair Corr
0.74	ROMO	Strategy Shares Newf	Pair Corr
0.87	IJK	iShares SP Mid	Pair Corr
0.75	NTSI	WisdomTree International	Pair Corr
0.84	CNAV	Mohr Company	Pair Corr
0.81	DFLV	Dimensional ETF Trust Sell-off Trend	Pair Corr
0.88	AAAA	Amplius Aggressive Asset	Pair Corr
0.64	HISF	First Trust High	Pair Corr
0.76	DWM	WisdomTree International	Pair Corr
0.78	EDGI	Advisors Inner	Pair Corr
0.66	WEEI	Westwood Salient Enhanced	Pair Corr
0.81	HFMF	Unlimited HFMF Managed	Pair Corr

Related Correlations Analysis

	FNY	FEM	FDT	LVHD	IMFL	LGH	PPH	VFVA	SSUS	IHE
FNY		0.84	0.78	0.63	0.77	0.49	0.74	0.83	0.82	0.67	FNY
FEM	0.84		0.98	0.9	0.97	0.19	0.93	0.9	0.65	0.89	FEM
FDT	0.78	0.98		0.95	1.0	0.09	0.93	0.91	0.57	0.93	FDT
LVHD	0.63	0.9	0.95		0.96	-0.12	0.91	0.85	0.36	0.94	LVHD
IMFL	0.77	0.97	1.0	0.96		0.09	0.94	0.93	0.57	0.94	IMFL
LGH	0.49	0.19	0.09	-0.12	0.09		0.08	0.22	0.85	-0.01	LGH
PPH	0.74	0.93	0.93	0.91	0.94	0.08		0.89	0.52	0.96	PPH
VFVA	0.83	0.9	0.91	0.85	0.93	0.22	0.89		0.66	0.87	VFVA
SSUS	0.82	0.65	0.57	0.36	0.57	0.85	0.52	0.66		0.45	SSUS
IHE	0.67	0.89	0.93	0.94	0.94	-0.01	0.96	0.87	0.45		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

IMFL	+ 1.0	FDT
FDT	+ 0.98	FEM
IMFL	+ 0.97	FEM
IMFL	+ 0.96	LVHD
IHE	+ 0.96	PPH
LVHD	+ 0.95	FDT

High negative correlations

LGH	- 0.12	LVHD
IHE	- 0.01	LGH

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	0.93	0.07	0.08	0.14	0.88	(1.01)	1.92	(1.71)	6.10
FEM	0.75	0.23	0.19	0.48	0.71	(0.85)	1.54	(1.26)	5.07
FDT	0.65	0.35	0.33	0.63	0.23	(0.79)	1.91	(1.05)	4.51
LVHD	0.42	0.15	0.17	0.89	0.14	(0.52)	1.03	(0.67)	2.07
IMFL	0.61	0.28	0.37	0.56	0.00	(0.74)	1.62	(0.80)	3.38
LGH	0.76	(0.03)	(0.02)	0.05	1.03	(0.73)	1.26	(1.63)	5.39
PPH	0.78	0.13	0.10	0.34	0.62	(0.92)	2.01	(1.37)	4.69
VFVA	0.69	0.09	0.11	0.17	0.58	(0.81)	2.17	(1.15)	4.86
SSUS	0.53	0.01	(0.02)	0.09	0.67	(0.54)	1.02	(1.19)	3.43
IHE	0.78	0.13	0.09	0.40	0.63	(0.81)	1.82	(1.25)	4.84

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