First Trust Correlations

LDSF Etf

USD 19.14 0.03 0.16%

The current 90-days correlation between First Trust Low and Capitol Series Trust is 0.08 (i.e., Significant 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.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Low and DJI is 0.82 (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 Low and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Low. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.93	BSV	Vanguard Short Term Sell-off Trend	Pair Corr
0.97	IGSB	iShares 1 5 Sell-off Trend	Pair Corr
0.97	SPSB	SPDR Barclays Short Sell-off Trend	Pair Corr
0.95	ISTB	iShares Core 1 Sell-off Trend	Pair Corr
0.97	SLQD	iShares 0 5	Pair Corr
0.88	GVI	iShares Intermediate	Pair Corr
0.98	LDUR	PIMCO Enhanced Low	Pair Corr
0.96	SUSB	iShares ESG 1	Pair Corr
0.92	SIXD	AIM ETF Products	Pair Corr
0.89	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.82	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.68	CVX	Chevron Corp	Pair Corr
0.62	INTC	Intel Aggressive Push	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.89	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.93	AA	Alcoa Corp	Pair Corr

Moving against First Etf

0.87	VXX	iPath Series B Downward Rally	Pair Corr
0.87	VIXY	ProShares VIX Short Downward Rally	Pair Corr
0.85	VIXM	ProShares VIX Mid	Pair Corr
0.85	VXZ	iPath Series B	Pair Corr
0.62	YCL	ProShares Ultra Yen	Pair Corr
0.52	FXY	Invesco CurrencyShares	Pair Corr
0.86	HPQ	HP Inc Aggressive Push	Pair Corr
0.39	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.37	MMM	3M Company	Pair Corr

Related Correlations Analysis

	ZTWO	VEGN	EALT	BNOV	ECML	DGRE	CSHP	RFDI	DWUS	HTUS
ZTWO		0.59	0.78	0.8	0.93	0.88	0.97	0.94	0.51	0.84	ZTWO
VEGN	0.59		0.83	0.82	0.65	0.7	0.53	0.7	0.85	0.79	VEGN
EALT	0.78	0.83		0.98	0.82	0.8	0.72	0.85	0.89	0.98	EALT
BNOV	0.8	0.82	0.98		0.83	0.83	0.75	0.86	0.87	0.97	BNOV
ECML	0.93	0.65	0.82	0.83		0.88	0.92	0.93	0.58	0.84	ECML
DGRE	0.88	0.7	0.8	0.83	0.88		0.86	0.96	0.68	0.79	DGRE
CSHP	0.97	0.53	0.72	0.75	0.92	0.86		0.93	0.44	0.78	CSHP
RFDI	0.94	0.7	0.85	0.86	0.93	0.96	0.93		0.65	0.86	RFDI
DWUS	0.51	0.85	0.89	0.87	0.58	0.68	0.44	0.65		0.82	DWUS
HTUS	0.84	0.79	0.98	0.97	0.84	0.79	0.78	0.86	0.82		HTUS
	ZTWO	VEGN	EALT	BNOV	ECML	DGRE	CSHP	RFDI	DWUS	HTUS

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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
ZTWO	0.05	0.01	(0.61)	0.26	0.00	(0.07)	0.10	(0.08)	0.26
VEGN	0.74	(0.01)	0.00	(0.69)	0.00	0.00	1.48	(1.86)	4.04
EALT	0.42	(0.01)	(0.04)	0.03	0.56	(0.41)	0.79	(1.04)	2.49
BNOV	0.38	0.00	(0.03)	0.05	0.54	(0.40)	0.93	(0.99)	2.68
ECML	0.74	0.09	0.13	0.14	0.51	(0.98)	2.20	(1.11)	4.94
DGRE	0.69	0.14	0.15	0.25	0.62	(0.78)	1.64	(1.32)	3.77
CSHP	0.02	0.01	(1.35)	7.80	0.00	(0.03)	0.06	(0.02)	0.22
RFDI	0.60	0.13	0.16	0.23	0.49	(0.65)	1.19	(1.14)	3.13
DWUS	0.77	(0.05)	0.00	(0.01)	0.00	0.00	1.58	(2.17)	4.55
HTUS	0.44	0.01	(0.02)	0.06	0.55	(0.48)	0.89	(0.99)	3.54

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