First Trust Correlations

LDSF Etf

USD 19.17 0.01 0.05%

The current 90-days correlation between First Trust Low and Utilities Select Sector is 0.24 (i.e., Modest 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 0.86 (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

0.89	BSV	Vanguard Short Term Sell-off Trend	Pair Corr
0.95	IGSB	iShares 1 5 Sell-off Trend	Pair Corr
0.96	SPSB	SPDR Barclays Short Sell-off Trend	Pair Corr
0.93	ISTB	iShares Core 1	Pair Corr
0.96	SLQD	iShares 0 5	Pair Corr
0.8	GVI	iShares Intermediate	Pair Corr
0.98	LDUR	PIMCO Enhanced Low	Pair Corr
0.95	SUSB	iShares ESG 1	Pair Corr
0.78	SIXD	AIM ETF Products	Pair Corr
0.92	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.64	ULE	ProShares Ultra Euro	Pair Corr
0.97	EFA	iShares MSCI EAFE	Pair Corr
0.83	URA	Global X Uranium	Pair Corr
0.84	IGEB	iShares Edge Investment	Pair Corr
0.85	UAUG	Innovator Equity Ultra	Pair Corr
0.96	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.86	VDC	Vanguard Consumer Staples	Pair Corr
0.85	PAUG	Innovator Equity Power	Pair Corr
0.95	CFA	VictoryShares 500	Pair Corr
0.94	CVMC	Morgan Stanley ETF	Pair Corr
0.94	AVMC	American Century ETF	Pair Corr
0.97	AVDS	Avantis International	Pair Corr
0.91	KNGZ	First Trust Exchange	Pair Corr
0.97	DISV	Dimensional ETF Trust	Pair Corr
0.96	TAXT	Northern Trust Tax	Pair Corr
0.93	FNK	First Trust Mid	Pair Corr
0.97	DFE	WisdomTree Europe	Pair Corr
0.87	DIA	SPDR Dow Jones	Pair Corr
0.95	FEM	First Trust Emerging	Pair Corr
0.92	IJS	iShares SP Small	Pair Corr
0.92	QTAP	Innovator Growth 100	Pair Corr
0.78	LQIG	SPDR MarketAxess Inv	Pair Corr
0.86	LALT	Invesco Multi Strategy	Pair Corr
0.83	DAUG	FT Cboe Vest	Pair Corr
0.77	SLV	iShares Silver Trust Aggressive Push	Pair Corr

Moving against First Etf

0.7	VIXY	ProShares VIX Short	Pair Corr
0.69	VXX	iPath Series B	Pair Corr
0.61	PLTI	REX ETF Trust	Pair Corr

Related Correlations Analysis

	SHV	SHY	HYG	FBND	USIG	USHY	IYW	IEI	IWP	XLU
SHV		0.95	0.94	0.72	0.81	0.95	-0.28	0.59	-0.13	0.37	SHV
SHY	0.95		0.88	0.82	0.89	0.88	-0.4	0.79	-0.25	0.52	SHY
HYG	0.94	0.88		0.67	0.79	1.0	-0.04	0.5	0.13	0.23	HYG
FBND	0.72	0.82	0.67		0.92	0.67	-0.4	0.88	-0.24	0.79	FBND
USIG	0.81	0.89	0.79	0.92		0.78	-0.36	0.88	-0.21	0.72	USIG
USHY	0.95	0.88	1.0	0.67	0.78		-0.04	0.5	0.12	0.23	USHY
IYW	-0.28	-0.4	-0.04	-0.4	-0.36	-0.04		-0.55	0.86	-0.63	IYW
IEI	0.59	0.79	0.5	0.88	0.88	0.5	-0.55		-0.41	0.81	IEI
IWP	-0.13	-0.25	0.13	-0.24	-0.21	0.12	0.86	-0.41		-0.54	IWP
XLU	0.37	0.52	0.23	0.79	0.72	0.23	-0.63	0.81	-0.54		XLU
	SHV	SHY	HYG	FBND	USIG	USHY	IYW	IEI	IWP	XLU

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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

USHY	+ 1.0	HYG
SHY	+ 0.95	SHV
USHY	+ 0.95	SHV
HYG	+ 0.94	SHV
USIG	+ 0.92	FBND
USIG	+ 0.89	SHY

High negative correlations

XLU	- 0.63	IYW
IEI	- 0.55	IYW
XLU	- 0.54	IWP
IWP	- 0.41	IEI
IYW	- 0.4	FBND
IYW	- 0.4	SHY

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
SHV	0.01	0.00	0.00	0.00	0.00	0.00	0.04	0.00	0.05
SHY	0.04	0.01	(1.71)	(2.07)	0.00	(0.06)	0.12	(0.07)	0.27
HYG	0.10	0.01	(0.56)	0.20	0.00	(0.13)	0.33	(0.18)	0.60
FBND	0.15	0.01	(0.39)	0.28	0.00	(0.17)	0.31	(0.28)	0.70
USIG	0.15	0.02	(0.37)	0.38	0.00	(0.17)	0.31	(0.31)	0.79
USHY	0.11	0.02	(0.56)	0.22	0.00	(0.14)	0.30	(0.16)	0.54
IYW	0.94	(0.10)	0.00	(0.01)	0.00	0.00	1.56	(2.41)	6.02
IEI	0.11	0.01	(0.62)	(0.86)	0.00	(0.13)	0.26	(0.18)	0.62
IWP	0.83	(0.10)	(0.07)	0.01	1.11	(0.82)	1.58	(2.24)	5.81
XLU	0.75	0.08	0.00	0.62	0.88	(0.78)	1.45	(1.46)	4.42

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