First Trust Correlations

ISHP Etf

USD 38.69 0.76 1.93%

The current 90-days correlation between First Trust S and CYBER HORNET SP is 0.7 (i.e., Poor 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

Poor diversification

The correlation between First Trust S Network and DJI is 0.76 (i.e., Poor 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

0.74	VT	Vanguard Total World Sell-off Trend	Pair Corr
0.68	ACWI	iShares MSCI ACWI Sell-off Trend	Pair Corr
0.79	IOO	iShares Global 100	Pair Corr
0.82	URTH	iShares MSCI World	Pair Corr
0.82	CRBN	iShares MSCI ACWI	Pair Corr
0.65	GLOV	Goldman Sachs ActiveBeta	Pair Corr
0.83	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.79	SPGM	SPDR Portfolio MSCI	Pair Corr
0.74	CPST	Calamos ETF Trust	Pair Corr
0.76	ITDD	iShares Trust	Pair Corr
0.68	FDRR	Fidelity Dividend ETF	Pair Corr
0.62	DISV	Dimensional ETF Trust	Pair Corr
0.74	FNX	First Trust Mid	Pair Corr
0.64	BA	Boeing	Pair Corr

Moving against First Etf

0.34

Procter Gamble

Pair Corr

Related Correlations Analysis

	IQRA	AVIE	FTAG	JPAN	JOJO	QQJG	SNPD	BERZ	EMOP	BBB
IQRA		0.7	0.76	0.69	0.64	0.28	0.7	-0.55	0.66	0.34	IQRA
AVIE	0.7		0.96	0.8	0.91	0.37	0.97	-0.48	0.53	0.1	AVIE
FTAG	0.76	0.96		0.89	0.9	0.39	0.97	-0.56	0.69	0.26	FTAG
JPAN	0.69	0.8	0.89		0.86	0.58	0.88	-0.72	0.74	0.56	JPAN
JOJO	0.64	0.91	0.9	0.86		0.53	0.94	-0.66	0.53	0.32	JOJO
QQJG	0.28	0.37	0.39	0.58	0.53		0.47	-0.71	0.28	0.58	QQJG
SNPD	0.7	0.97	0.97	0.88	0.94	0.47		-0.58	0.61	0.22	SNPD
BERZ	-0.55	-0.48	-0.56	-0.72	-0.66	-0.71	-0.58		-0.5	-0.75	BERZ
EMOP	0.66	0.53	0.69	0.74	0.53	0.28	0.61	-0.5		0.42	EMOP
BBB	0.34	0.1	0.26	0.56	0.32	0.58	0.22	-0.75	0.42		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

SNPD	+ 0.97	AVIE
SNPD	+ 0.97	FTAG
FTAG	+ 0.96	AVIE
SNPD	+ 0.94	JOJO
JOJO	+ 0.91	AVIE
JOJO	+ 0.9	FTAG

High negative correlations

BBB	- 0.75	BERZ
BERZ	- 0.72	JPAN
BERZ	- 0.71	QQJG
BERZ	- 0.66	JOJO
BERZ	- 0.58	SNPD
BERZ	- 0.56	FTAG

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	0.39	0.04	0.02	0.16	0.40	(0.42)	0.78	(0.72)	2.42
AVIE	0.46	0.18	0.21	(2.19)	0.17	(0.54)	1.21	(0.75)	2.82
FTAG	0.60	0.20	0.18	(1.04)	0.37	(0.70)	1.54	(1.06)	3.55
JPAN	0.70	0.07	0.03	0.32	0.88	(0.73)	1.74	(1.42)	4.86
JOJO	0.17	0.03	(0.08)	1.99	0.13	(0.23)	0.45	(0.32)	1.53
QQJG	0.86	(0.04)	(0.03)	0.01	1.13	(0.84)	1.69	(1.85)	4.52
SNPD	0.50	0.15	0.15	(4.43)	0.38	(0.57)	1.25	(1.02)	3.31
BERZ	3.49	0.12	0.01	(0.17)	4.41	(4.20)	9.16	(7.09)	26.04
EMOP	0.72	0.20	0.22	0.95	0.49	(0.85)	1.98	(1.33)	4.10
BBB	0.78	(0.07)	0.00	(1.61)	0.00	0.00	1.66	(1.88)	5.43

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