First Trust Correlations

FYX Etf

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The current 90-days correlation between First Trust Small and Vanguard Russell 2000 is 0.98 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust Small and DJI is 0.95 (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 unemployment.

Moving together with First Etf

0.99	VB	Vanguard Small Cap	Pair Corr
1.0	IJR	iShares Core SP	Pair Corr
0.97	IWM	iShares Russell 2000	Pair Corr
0.97	VRTIX	Vanguard Russell 2000	Pair Corr
0.97	VTWO	Vanguard Russell 2000	Pair Corr
1.0	FNDA	Schwab Fundamental Small	Pair Corr
1.0	SPSM	SPDR Portfolio SP Sell-off Trend	Pair Corr
1.0	DFAS	Dimensional Small Cap	Pair Corr
1.0	VIOO	Vanguard SP Small	Pair Corr
0.97	PRFZ	Invesco FTSE RAFI	Pair Corr
0.84	VTI	Vanguard Total Stock	Pair Corr
0.8	SPY	SPDR SP 500	Pair Corr
0.8	IVV	iShares Core SP	Pair Corr
0.69	BND	Vanguard Total Bond	Pair Corr
0.96	VTV	Vanguard Value Index	Pair Corr
0.96	VO	Vanguard Mid Cap	Pair Corr
0.94	VEA	Vanguard FTSE Developed Sell-off Trend	Pair Corr
0.86	VWO	Vanguard FTSE Emerging	Pair Corr
0.94	UMAY	Innovator ETFs Trust	Pair Corr
0.97	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.83	NCPB	Nuveen Core Plus	Pair Corr
0.93	CCNR	CoreCommodity Natural	Pair Corr
0.9	UDI	USCF ETF Trust	Pair Corr
0.87	QLV	FlexShares Quality Low	Pair Corr
0.95	FIDU	Fidelity MSCI Industrials	Pair Corr
0.9	SCDV	ETF Series Solutions	Pair Corr
0.93	XYLD	Global X SP	Pair Corr
0.9	PSFD	Pacer Swan SOS	Pair Corr
0.94	EURL	Direxion Daily FTSE	Pair Corr
0.87	IAUM	iShares Gold Trust	Pair Corr
0.93	CHPS	Xtrackers Semiconductor	Pair Corr
0.96	IQSZ	Invesco Actively Managed	Pair Corr
0.92	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.9	XFIX	Fm Investments Symbol Change	Pair Corr
0.92	TAXT	Northern Trust Tax	Pair Corr

Related Correlations Analysis

	FXH	FTA	FNX	TOUS	FYC	FDT	AVIV	EIPI	ONEY	VTWV
FXH		0.25	0.45	0.25	0.58	0.18	0.2	-0.02	0.26	0.39	FXH
FTA	0.25		0.94	0.97	0.79	0.97	0.98	0.87	0.99	0.95	FTA
FNX	0.45	0.94		0.94	0.94	0.92	0.94	0.73	0.96	0.99	FNX
TOUS	0.25	0.97	0.94		0.83	0.98	0.99	0.84	0.97	0.94	TOUS
FYC	0.58	0.79	0.94	0.83		0.77	0.8	0.5	0.8	0.92	FYC
FDT	0.18	0.97	0.92	0.98	0.77		0.99	0.91	0.97	0.93	FDT
AVIV	0.2	0.98	0.94	0.99	0.8	0.99		0.86	0.97	0.94	AVIV
EIPI	-0.02	0.87	0.73	0.84	0.5	0.91	0.86		0.87	0.76	EIPI
ONEY	0.26	0.99	0.96	0.97	0.8	0.97	0.97	0.87		0.96	ONEY
VTWV	0.39	0.95	0.99	0.94	0.92	0.93	0.94	0.76	0.96		VTWV
	FXH	FTA	FNX	TOUS	FYC	FDT	AVIV	EIPI	ONEY	VTWV

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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

ONEY	+ 0.99	FTA
VTWV	+ 0.99	FNX
AVIV	+ 0.99	TOUS
AVIV	+ 0.99	FDT
AVIV	+ 0.98	FTA
FDT	+ 0.98	TOUS

High negative correlations

EIPI

- 0.02

FXH

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
FXH	0.75	0.00	(0.01)	0.04	0.77	(0.84)	1.89	(1.38)	4.18
FTA	0.60	0.16	0.23	0.26	0.33	(0.70)	1.64	(1.03)	3.31
FNX	0.80	0.11	0.12	0.14	0.73	(0.86)	1.97	(1.69)	4.49
TOUS	0.61	0.12	0.14	0.20	0.56	(0.65)	1.48	(1.23)	3.20
FYC	1.06	0.07	0.06	0.09	1.18	(1.15)	2.21	(2.04)	5.45
FDT	0.71	0.25	0.23	0.38	0.61	(0.77)	1.91	(1.23)	4.51
AVIV	0.62	0.18	0.21	0.28	0.55	(0.69)	1.38	(1.08)	3.48
EIPI	0.54	0.15	0.22	1.12	0.30	(0.66)	1.33	(0.84)	2.83
ONEY	0.68	0.14	0.19	0.22	0.48	(0.81)	1.90	(1.14)	3.68
VTWV	0.84	0.14	0.16	0.16	0.75	(1.01)	2.28	(1.70)	4.69

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