First Trust Correlations

HYLS Etf

USD 41.80 0.03 0.07%

The current 90-days correlation between First Trust Tactical and iShares Industrials ETF is 0.49 (i.e., Very 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

Very poor diversification

The correlation between First Trust Tactical and DJI is 0.88 (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 Tactical 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 Tactical. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with First Etf

0.97	HYG	iShares iBoxx High Sell-off Trend	Pair Corr
0.96	USHY	iShares Broad USD Sell-off Trend	Pair Corr
0.97	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.97	SHYG	iShares 0 5 Sell-off Trend	Pair Corr
0.97	HYLB	Xtrackers USD High	Pair Corr
0.97	SJNK	SPDR Bloomberg Short Sell-off Trend	Pair Corr
0.93	ANGL	VanEck Fallen Angel	Pair Corr
0.87	FALN	iShares Fallen Angels	Pair Corr
0.98	HYDW	Xtrackers Low Beta	Pair Corr
0.89	AGQ	ProShares Ultra Silver Upward Rally	Pair Corr
0.87	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.9	JNUG	Direxion Daily Junior Trending	Pair Corr
0.94	SIXD	AIM ETF Products	Pair Corr
0.86	IAUM	iShares Gold Trust	Pair Corr
0.67	IEMG	iShares Core MSCI	Pair Corr
0.91	VEA	Vanguard FTSE Developed	Pair Corr
0.78	TPHD	Timothy Plan High	Pair Corr
0.79	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.93	MRK	Merck Company	Pair Corr
0.82	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.83	JNJ	Johnson Johnson	Pair Corr

Moving against First Etf

0.73	FNGO	MicroSectors FANG Index	Pair Corr
0.73	FNGG	Direxion Daily Select	Pair Corr
0.61	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.43	NVDL	GraniteShares 15x Long	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.78	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.66	T	ATT Inc Earnings Call This Week	Pair Corr
0.55	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	0.27	-0.24	0.15	-0.12	0.53	-0.07	-0.28	-0.32	META
MSFT	0.56		0.78	-0.55	0.52	0.25	0.35	-0.25	-0.84	-0.74	MSFT
UBER	0.27	0.78		-0.47	0.42	0.45	0.01	-0.39	-0.8	-0.51	UBER
F	-0.24	-0.55	-0.47		-0.64	-0.13	0.07	0.59	0.68	0.62	F
T	0.15	0.52	0.42	-0.64		0.55	-0.19	-0.41	-0.49	-0.64	T
A	-0.12	0.25	0.45	-0.13	0.55		-0.32	-0.22	-0.25	-0.37	A
CRM	0.53	0.35	0.01	0.07	-0.19	-0.32		0.54	-0.09	-0.33	CRM
JPM	-0.07	-0.25	-0.39	0.59	-0.41	-0.22	0.54		0.48	0.17	JPM
MRK	-0.28	-0.84	-0.8	0.68	-0.49	-0.25	-0.09	0.48		0.74	MRK
XOM	-0.32	-0.74	-0.51	0.62	-0.64	-0.37	-0.33	0.17	0.74		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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

UBER	+ 0.78	MSFT
XOM	+ 0.74	MRK
MRK	+ 0.68	F
XOM	+ 0.62	F
JPM	+ 0.59	F
MSFT	+ 0.56	META

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
XOM	- 0.74	MSFT
XOM	- 0.64	T
T	- 0.64	F
F	- 0.55	MSFT

First Trust Competition 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
META	1.42	(0.21)	0.00	(0.14)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.04	(0.18)	0.00	(0.50)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.24)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.50	0.11	0.10	0.14	1.32	(1.86)	3.69	(2.35)	16.30
T	0.87	(0.16)	0.00	(0.39)	0.00	0.00	1.53	(1.85)	4.30
A	1.21	(0.17)	0.00	(0.06)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.51	(0.23)	0.00	(0.13)	0.00	0.00	3.22	(3.10)	12.37
JPM	1.13	(0.11)	0.00	(0.01)	0.00	0.00	2.00	(3.11)	7.38
MRK	1.24	0.31	0.21	0.48	1.09	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.20	0.95	(1.22)	2.38	(1.51)	5.82

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC