First Trust Correlations

HYLS Etf

USD 41.59 0.17 0.41%

The current 90-days correlation between First Trust Tactical and First Trust Senior 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 weak diversification

The correlation between First Trust Tactical and DJI is 0.44 (i.e., Very weak 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.

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 bureau of economic analysis.

Moving together with First Etf

0.98	HYG	iShares iBoxx High	Pair Corr
0.98	USHY	iShares Broad USD	Pair Corr
0.98	JNK	SPDR Bloomberg High	Pair Corr
0.93	SHYG	iShares 0 5 Sell-off Trend	Pair Corr
0.98	HYLB	Xtrackers USD High	Pair Corr
0.94	SJNK	SPDR Bloomberg Short	Pair Corr
0.9	ANGL	VanEck Fallen Angel	Pair Corr
0.94	FALN	iShares Fallen Angels	Pair Corr
0.74	HYDW	Xtrackers Low Beta	Pair Corr
0.75	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.66	SIXD	AIM ETF Products	Pair Corr
0.85	CEFD	ETRACS Monthly Pay	Pair Corr
0.62	DSJA	DSJA	Pair Corr
0.74	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.79	HD	Home Depot	Pair Corr
0.61	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.72	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.66	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.71	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.64	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Moving against First Etf

0.55	VIIX	VIIX	Pair Corr
0.43	ULE	ProShares Ultra Euro	Pair Corr
0.36	YCL	ProShares Ultra Yen	Pair Corr
0.32	FXY	Invesco CurrencyShares	Pair Corr
0.82	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.41	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.35	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.58	-0.01	0.64	0.02	0.73	0.31	-0.58	0.74	META
MSFT	0.27		0.22	0.12	0.18	-0.03	0.04	-0.16	0.1	-0.18	MSFT
UBER	0.58	0.22		0.0	0.09	0.23	0.12	-0.03	-0.01	0.42	UBER
F	-0.01	0.12	0.0		-0.03	-0.36	0.33	0.61	-0.22	0.27	F
T	0.64	0.18	0.09	-0.03		-0.44	0.7	0.43	-0.73	0.38	T
A	0.02	-0.03	0.23	-0.36	-0.44		-0.45	-0.64	0.62	0.02	A
CRM	0.73	0.04	0.12	0.33	0.7	-0.45		0.8	-0.92	0.67	CRM
JPM	0.31	-0.16	-0.03	0.61	0.43	-0.64	0.8		-0.82	0.48	JPM
MRK	-0.58	0.1	-0.01	-0.22	-0.73	0.62	-0.92	-0.82		-0.55	MRK
XOM	0.74	-0.18	0.42	0.27	0.38	0.02	0.67	0.48	-0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.8	CRM
XOM	+ 0.74	META
CRM	+ 0.73	META
CRM	+ 0.7	T
XOM	+ 0.67	CRM
T	+ 0.64	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.82	JPM
MRK	- 0.73	T
JPM	- 0.64	A
MRK	- 0.58	META
XOM	- 0.55	MRK

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	1.07	0.05	0.02	0.16	1.41	(1.15)	2.62	(3.15)	8.02
MSFT	0.89	(0.10)	0.00	(0.05)	0.00	0.00	2.08	(2.03)	8.19
UBER	1.56	(0.15)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
F	1.40	(0.09)	(0.02)	0.02	2.20	(1.37)	2.53	(2.90)	11.72
T	0.91	0.26	0.16	(47.59)	0.84	(1.03)	2.56	(1.72)	6.47
A	1.09	(0.16)	0.00	(0.27)	0.00	0.00	2.11	(2.42)	9.02
CRM	1.25	0.24	0.20	0.30	0.94	(1.47)	3.18	(1.91)	9.09
JPM	1.09	0.03	0.06	0.10	1.43	(1.11)	2.05	(2.00)	15.87
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
XOM	1.03	0.04	0.00	0.15	1.22	(1.09)	2.14	(2.09)	5.78

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