First Trust Correlations

ISHP Etf

USD 35.81 0.18 0.51%

The current 90-days correlation between First Trust S and CYBER HORNET SP is 0.58 (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

Good diversification

The correlation between First Trust S Network and DJI is -0.14 (i.e., Good 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.

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 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

0.92	BCOR	Grayscale Bitcoin	Pair Corr
0.88	VUG	Vanguard Growth Index	Pair Corr

Moving against First Etf

0.74	BND	Vanguard Total Bond	Pair Corr
0.73	ACWV	iShares MSCI Global	Pair Corr
0.59	INR	Infinity Natural Res	Pair Corr
0.54	VTV	Vanguard Value Index	Pair Corr
0.47	GLOV	Goldman Sachs ActiveBeta Symbol Change	Pair Corr
0.32	SPGM	SPDR Portfolio MSCI	Pair Corr
0.74	VDC	Vanguard Consumer Staples	Pair Corr
0.71	EMIF	iShares Emerging Markets	Pair Corr
0.61	SPDV	AAM SP 500	Pair Corr
0.6	VYMI	Vanguard International Sell-off Trend	Pair Corr
0.59	PID	Invesco International	Pair Corr
0.59	TAXT	Northern Trust Tax	Pair Corr
0.49	AVDS	Avantis International	Pair Corr
0.48	UEVM	VictoryShares Emerging	Pair Corr
0.4	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.36	AUMI	Themes Gold Miners	Pair Corr
0.34	AHYB	American Century ETF	Pair Corr
0.31	ETHO	Amplify Etho Climate	Pair Corr
0.75	ERET	iShares Environmentally	Pair Corr
0.62	DXJ	WisdomTree Japan Hedged	Pair Corr
0.56	STXV	EA Series Trust	Pair Corr
0.55	DVYE	iShares Emerging Markets	Pair Corr

Related Correlations Analysis

	IQRA	AVIE	FTAG	JPAN	JOJO	QQJG	SNPD	BERZ	EMOP	BBB
IQRA		0.95	0.95	0.93	0.97	-0.12	0.93	0.43	0.89	-0.77	IQRA
AVIE	0.95		0.99	0.95	0.93	0.01	0.99	0.3	0.96	-0.69	AVIE
FTAG	0.95	0.99		0.95	0.94	0.04	0.98	0.31	0.96	-0.7	FTAG
JPAN	0.93	0.95	0.95		0.95	0.13	0.95	0.21	0.93	-0.59	JPAN
JOJO	0.97	0.93	0.94	0.95		0.01	0.92	0.33	0.91	-0.68	JOJO
QQJG	-0.12	0.01	0.04	0.13	0.01		0.08	-0.54	0.14	0.37	QQJG
SNPD	0.93	0.99	0.98	0.95	0.92	0.08		0.26	0.95	-0.65	SNPD
BERZ	0.43	0.3	0.31	0.21	0.33	-0.54	0.26		0.16	-0.82	BERZ
EMOP	0.89	0.96	0.96	0.93	0.91	0.14	0.95	0.16		-0.55	EMOP
BBB	-0.77	-0.69	-0.7	-0.59	-0.68	0.37	-0.65	-0.82	-0.55		BBB
	IQRA	AVIE	FTAG	JPAN	JOJO	QQJG	SNPD	BERZ	EMOP	BBB

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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

FTAG	+ 0.99	AVIE
SNPD	+ 0.99	AVIE
SNPD	+ 0.98	FTAG
JOJO	+ 0.97	IQRA
EMOP	+ 0.96	AVIE
EMOP	+ 0.96	FTAG

High negative correlations

BBB	- 0.82	BERZ
BBB	- 0.77	IQRA
BBB	- 0.7	FTAG
BBB	- 0.69	AVIE
BBB	- 0.68	JOJO
BBB	- 0.65	SNPD

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
IQRA	0.43	0.15	0.12	0.56	0.07	(0.49)	0.87	(0.72)	2.57
AVIE	0.49	0.16	0.18	0.46	0.00	(0.56)	1.49	(0.67)	2.96
FTAG	0.70	0.27	0.16	(1.42)	0.35	(0.79)	1.97	(1.12)	3.98
JPAN	0.78	0.19	0.18	0.38	0.48	(0.92)	2.17	(1.20)	5.71
JOJO	0.23	0.08	(0.10)	20.94	0.00	(0.31)	0.58	(0.43)	1.70
QQJG	0.84	0.10	(0.03)	(0.32)	0.93	(1.08)	1.73	(1.51)	6.37
SNPD	0.54	0.15	0.16	0.35	0.29	(0.63)	1.25	(1.02)	3.31
BERZ	3.58	0.16	0.00	0.06	0.00	0.00	8.97	(6.93)	24.13
EMOP	0.79	0.32	0.24	(3.27)	0.45	(0.97)	2.28	(1.31)	5.59
BBB	0.84	(0.14)	0.00	(0.03)	0.00	0.00	1.78	(2.00)	6.09

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