First Trust Correlations

ISHP Etf

USD 37.16 0.24 0.65%

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 S Network and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust S Network 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 S Network. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with First Etf

0.88	XLY	Consumer Discretionary	Pair Corr
0.86	VCR	Vanguard Consumer	Pair Corr
0.86	FDIS	Fidelity MSCI Consumer	Pair Corr
0.88	IYC	iShares Consumer Dis	Pair Corr
0.9	PEJ	Invesco Dynamic Leisure	Pair Corr
0.85	FXD	First Trust Consumer	Pair Corr
0.91	RCD	Invesco SP 500	Pair Corr
0.71	XRT	SPDR SP Retail	Pair Corr
0.88	VR	VR	Pair Corr
0.92	JPST	JPMorgan Ultra Short	Pair Corr
0.61	IGLD	FT Cboe Vest	Pair Corr
0.89	SPBC	Simplify Equity PLUS	Pair Corr
0.62	CCSB	Carbon Collective Short	Pair Corr
0.7	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.96	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.89	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.75	DIS	Walt Disney Aggressive Push	Pair Corr
0.83	WMT	Walmart Aggressive Push	Pair Corr
0.89	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.71	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.78	BAC	Bank of America Aggressive Push	Pair Corr
0.94	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against First Etf

0.92	FNGD	MicroSectors FANG Index	Pair Corr
0.69	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.64	BBBI	BondBloxx ETF Trust	Pair Corr
0.53	WTRE	WisdomTree New Economy	Pair Corr
0.88	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.81	KO	Coca Cola Sell-off Trend	Pair Corr
0.66	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.37	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	IMTV	INOW	EMBT	LEON	OPUS
IMTV		0.0	0.0	0.31	0.0	IMTV
INOW	0.0		1.0	0.0	1.0	INOW
EMBT	0.0	1.0		0.0	1.0	EMBT
LEON	0.31	0.0	0.0		0.0	LEON
OPUS	0.0	1.0	1.0	0.0		OPUS
	IMTV	INOW	EMBT	LEON	OPUS

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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

EMBT	+ 1.0	INOW
OPUS	+ 1.0	INOW
OPUS	+ 1.0	EMBT
LEON	+ 0.31	IMTV
INOW	+ 0.0	IMTV
EMBT	+ 0.0	IMTV

High negative correlations

OPUS	- 0.0	LEON
LEON	- 0.0	EMBT
LEON	- 0.0	INOW
OPUS	- 0.0	IMTV
EMBT	- 0.0	IMTV
INOW	- 0.0	IMTV

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	Treynor Ratio	Maximum Drawdown
IMTV	0.00	0.00	0.00	0.00
INOW	0.00	0.00	0.00	0.00
EMBT	0.00	0.00	0.00	0.00
LEON	184.69	93.86	(3.60)	6,283
OPUS	0.00	0.00	0.00	0.00

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