First Trust Correlations

HISF Etf

USD 45.51 0.09 0.20%

The current 90-days correlation between First Trust High and Yieldmax XOM Option is -0.07 (i.e., Good 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

Very poor diversification

The correlation between First Trust High and DJI is 0.85 (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 High and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in First Trust High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.88	AXSIX	Axonic Strategic Income	Pair Corr
0.84	AXSAX	Axonic Strategic Income	Pair Corr
0.91	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.89	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.92	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.92	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.95	JPIE	JP Morgan Exchange	Pair Corr
0.95	AFIF	Anfield Universal Fixed	Pair Corr
0.98	MUSI	American Century Mul	Pair Corr
0.95	SIO	Touchstone Strategic	Pair Corr
0.88	EMCB	WisdomTree Emerging	Pair Corr
0.71	PCY	Invesco Emerging Markets	Pair Corr
0.88	WIP	SPDR FTSE International	Pair Corr
0.81	ISHG	iShares 1 3	Pair Corr
0.77	IGOV	iShares International	Pair Corr
0.96	MSTI	Madison ETFs Trust	Pair Corr
0.63	FHLC	Fidelity MSCI Health	Pair Corr
0.9	UMAY	Innovator ETFs Trust	Pair Corr
0.86	CHPS	Xtrackers Semiconductor	Pair Corr
0.88	SCDV	ETF Series Solutions	Pair Corr
0.83	TLCI	Touchstone ETF Trust	Pair Corr
0.91	XYLD	Global X SP	Pair Corr
0.87	SIXJ	AIM ETF Products	Pair Corr
0.86	STXE	EA Series Trust	Pair Corr
0.91	GAPR	First Trust Exchange	Pair Corr
0.9	IQSZ	Invesco Actively Managed	Pair Corr
0.88	LVHI	Franklin International	Pair Corr
0.86	AUMI	Themes Gold Miners	Pair Corr
0.87	FB	ProShares Trust ProShares	Pair Corr
0.88	BMVP	Invesco Bloomberg MVP	Pair Corr
0.85	PSFD	Pacer Swan SOS	Pair Corr
0.63	DBA	Invesco DB Agriculture	Pair Corr
0.91	NULV	Nuveen ESG Large	Pair Corr
0.78	DOGG	First Trust Exchange	Pair Corr
0.77	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.92	TAXT	Northern Trust Tax	Pair Corr
0.92	BSMS	Invesco BulletShares 2028	Pair Corr

Related Correlations Analysis

	FFIU	MAXI	AGGA	FUSI	CGHY	GMUB	XRLX	XFLX	AMUU	XOMO
FFIU		-0.04	0.08	-0.07	-0.08	0.05	-0.13	0.04	-0.07	0.1	FFIU
MAXI	-0.04		-0.7	-0.78	-0.64	-0.71	-0.39	-0.57	0.53	-0.74	MAXI
AGGA	0.08	-0.7		0.93	0.95	0.92	0.83	0.97	-0.28	0.81	AGGA
FUSI	-0.07	-0.78	0.93		0.95	0.95	0.78	0.89	-0.19	0.9	FUSI
CGHY	-0.08	-0.64	0.95	0.95		0.9	0.87	0.95	-0.19	0.78	CGHY
GMUB	0.05	-0.71	0.92	0.95	0.9		0.73	0.88	-0.16	0.92	GMUB
XRLX	-0.13	-0.39	0.83	0.78	0.87	0.73		0.89	-0.02	0.63	XRLX
XFLX	0.04	-0.57	0.97	0.89	0.95	0.88	0.89		-0.16	0.77	XFLX
AMUU	-0.07	0.53	-0.28	-0.19	-0.19	-0.16	-0.02	-0.16		-0.06	AMUU
XOMO	0.1	-0.74	0.81	0.9	0.78	0.92	0.63	0.77	-0.06		XOMO
	FFIU	MAXI	AGGA	FUSI	CGHY	GMUB	XRLX	XFLX	AMUU	XOMO

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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

XFLX	+ 0.97	AGGA
CGHY	+ 0.95	AGGA
CGHY	+ 0.95	FUSI
GMUB	+ 0.95	FUSI
XFLX	+ 0.95	CGHY
FUSI	+ 0.93	AGGA

High negative correlations

FUSI	- 0.78	MAXI
XOMO	- 0.74	MAXI
GMUB	- 0.71	MAXI
AGGA	- 0.7	MAXI
CGHY	- 0.64	MAXI
XFLX	- 0.57	MAXI

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
FFIU	0.30	0.01	(0.11)	(0.04)	0.47	(0.32)	0.77	(1.07)	2.48
MAXI	3.64	(1.11)	0.00	(0.33)	0.00	0.00	7.76	(8.33)	24.92
AGGA	0.07	0.01	(0.51)	0.24	0.00	(0.10)	0.16	(0.16)	0.36
FUSI	0.03	0.01	(0.95)	1.66	0.00	(0.05)	0.08	(0.04)	0.24
CGHY	0.09	0.02	(0.32)	0.31	0.00	(0.13)	0.24	(0.12)	0.64
GMUB	0.11	0.02	(0.29)	(2.36)	0.00	(0.14)	0.33	(0.18)	0.71
XRLX	0.36	(0.01)	(0.10)	0.02	0.48	(0.37)	0.73	(0.90)	2.37
XFLX	0.16	0.01	(0.21)	0.10	0.10	(0.18)	0.40	(0.36)	0.99
AMUU	5.27	(0.56)	0.00	(0.14)	0.00	0.00	12.64	(10.42)	52.63
XOMO	0.96	0.25	0.16	0.92	0.97	(1.08)	2.52	(1.67)	6.05

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