First Trust Correlations

HUSV Etf

USD 38.12 0.23 0.61%

The current 90-days correlation between First Trust Horizon and First Trust Horizon is 0.32 (i.e., Weak 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

Weak diversification

The correlation between First Trust Horizon and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Horizon and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Etf

0.97	VTV	Vanguard Value Index	Pair Corr
0.88	VYM	Vanguard High Dividend	Pair Corr
0.96	IWD	iShares Russell 1000	Pair Corr
0.98	DGRO	iShares Core Dividend	Pair Corr
0.98	IVE	iShares SP 500	Pair Corr
0.94	DVY	iShares Select Dividend	Pair Corr
0.98	SPYV	SPDR Portfolio SP	Pair Corr
0.97	FVD	First Trust Value	Pair Corr
0.98	IUSV	iShares Core SP	Pair Corr
0.93	NOBL	ProShares SP 500	Pair Corr
0.71	PMBS	PIMCO Mortgage Backed	Pair Corr
0.61	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.68	YCL	ProShares Ultra Yen	Pair Corr
0.67	CEFD	ETRACS Monthly Pay	Pair Corr
0.7	FXY	Invesco CurrencyShares	Pair Corr

Moving against First Etf

0.42	TSJA	TSJA	Pair Corr
0.42	DSJA	DSJA	Pair Corr
0.55	XONE	Bondbloxx Bloomberg One	Pair Corr
0.54	BNO	United States Brent	Pair Corr
0.52	BILS	SPDR Series Trust	Pair Corr
0.48	WUCT	UBS AG London	Pair Corr
0.47	YEAR	AB Ultra Short	Pair Corr
0.47	MINT	PIMCO Enhanced Short	Pair Corr
0.38	FNGS	MicroSectors FANG ETN	Pair Corr
0.35	XDEC	First Trust Exchange	Pair Corr
0.34	FLDR	Fidelity Low Duration	Pair Corr
0.33	TSL	GraniteShares 125x Long	Pair Corr
0.55	GSG	iShares SP GSCI	Pair Corr
0.52	ICSH	iShares Ultra Short	Pair Corr
0.45	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.44	QYLD	Global X NASDAQ	Pair Corr

Related Correlations Analysis

	HDMV	FCVT	FTLS	HAWX	FMF
HDMV		-0.23	-0.6	0.42	-0.67	HDMV
FCVT	-0.23		0.72	0.22	0.63	FCVT
FTLS	-0.6	0.72		0.32	0.92	FTLS
HAWX	0.42	0.22	0.32		0.21	HAWX
FMF	-0.67	0.63	0.92	0.21		FMF
	HDMV	FCVT	FTLS	HAWX	FMF

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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

FMF	+ 0.92	FTLS
FTLS	+ 0.72	FCVT
FMF	+ 0.63	FCVT
HAWX	+ 0.42	HDMV
HAWX	+ 0.32	FTLS
HAWX	+ 0.22	FCVT

High negative correlations

FMF	- 0.67	HDMV
FTLS	- 0.6	HDMV
FCVT	- 0.23	HDMV

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
HDMV	0.48	(0.11)	0.00	(0.46)	0.00	0.00	0.84	(1.63)	3.69
FCVT	0.61	0.05	0.04	0.27	0.74	(0.65)	1.25	(1.15)	4.00
FTLS	0.44	0.06	0.05	0.34	0.65	(0.44)	0.86	(0.78)	4.67
HAWX	0.45	(0.02)	0.00	(0.09)	0.00	0.00	0.88	(1.23)	2.53
FMF	0.43	0.06	0.07	0.90	0.45	(0.47)	1.13	(0.92)	2.54

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