First Trust Correlations

LEGR Etf

USD 60.83 0.91 1.47%

The current 90-days correlation between First Trust Indxx and SPDR SP 600 is 0.67 (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

Almost no diversification

The correlation between First Trust Indxx and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Indxx 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 Indxx. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with First Etf

0.92	VTV	Vanguard Value Index	Pair Corr
0.86	VYM	Vanguard High Dividend	Pair Corr
0.95	IWD	iShares Russell 1000	Pair Corr
0.88	DGRO	iShares Core Dividend	Pair Corr
0.93	IVE	iShares SP 500	Pair Corr
0.93	SPYV	SPDR Portfolio SP	Pair Corr
0.93	IUSV	iShares Core SP	Pair Corr
0.86	NOBL	ProShares SP 500	Pair Corr
0.93	FNDX	Schwab Fundamental Large	Pair Corr
0.96	VLUE	iShares MSCI USA	Pair Corr
0.89	TOT	Advisor Managed Port	Pair Corr
0.91	SHLD	Global X Defense	Pair Corr
0.7	LUX	Tema Global	Pair Corr
0.91	FB	ProShares Trust ProShares	Pair Corr
0.91	SWP	SWP Growth Income	Pair Corr
0.67	FNGD	MicroSectors FANG Index	Pair Corr
0.9	CALY	Callaway Golf Symbol Change	Pair Corr
0.91	VBK	Vanguard Small Cap	Pair Corr
0.77	RDIV	Invesco SP Ultra	Pair Corr
0.93	AHYB	American Century ETF	Pair Corr
0.94	BINC	BlackRock ETF Trust	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.8	MRK	Merck Company Sell-off Trend	Pair Corr
0.86	DD	Dupont De Nemours	Pair Corr
0.94	AA	Alcoa Corp	Pair Corr
0.79	CVX	Chevron Corp	Pair Corr
0.72	HD	Home Depot Sell-off Trend	Pair Corr
0.8	INTC	Intel	Pair Corr

Moving against First Etf

0.63	IND	Xtrackers Nifty 500	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.38	MMM	3M Company	Pair Corr

Related Correlations Analysis

	CGXU	DFLV	JHMM	FENI	VMIAX	BBEU	DXJ	IHI	SLYV
CGXU		0.94	0.93	0.97	0.95	0.97	0.91	-0.56	0.9	CGXU
DFLV	0.94		0.99	0.98	0.98	0.98	0.96	-0.57	0.98	DFLV
JHMM	0.93	0.99		0.96	0.97	0.96	0.95	-0.52	0.99	JHMM
FENI	0.97	0.98	0.96		0.98	0.99	0.95	-0.63	0.95	FENI
VMIAX	0.95	0.98	0.97	0.98		0.97	0.96	-0.6	0.96	VMIAX
BBEU	0.97	0.98	0.96	0.99	0.97		0.93	-0.56	0.95	BBEU
DXJ	0.91	0.96	0.95	0.95	0.96	0.93		-0.62	0.95	DXJ
IHI	-0.56	-0.57	-0.52	-0.63	-0.6	-0.56	-0.62		-0.54	IHI
SLYV	0.9	0.98	0.99	0.95	0.96	0.95	0.95	-0.54		SLYV
	CGXU	DFLV	JHMM	FENI	VMIAX	BBEU	DXJ	IHI	SLYV

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

JHMM	+ 0.99	DFLV
SLYV	+ 0.99	JHMM
BBEU	+ 0.99	FENI
FENI	+ 0.98	DFLV
VMIAX	+ 0.98	DFLV
BBEU	+ 0.98	DFLV

High negative correlations

IHI	- 0.63	FENI
IHI	- 0.62	DXJ
IHI	- 0.6	VMIAX
IHI	- 0.57	DFLV
IHI	- 0.56	BBEU
IHI	- 0.56	CGXU

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
CGXU	0.83	0.09	0.08	0.18	0.90	(0.90)	1.72	(1.64)	4.37
DFLV	0.60	0.12	0.15	0.23	0.39	(0.70)	1.59	(1.18)	3.09
JHMM	0.66	0.07	0.08	0.17	0.59	(0.70)	1.72	(1.44)	3.56
FENI	0.63	0.14	0.15	0.28	0.53	(0.72)	1.32	(1.17)	3.25
VMIAX	0.91	0.26	0.24	0.34	0.70	(1.06)	2.20	(1.63)	5.22
BBEU	0.64	0.11	0.12	0.24	0.56	(0.73)	1.30	(1.25)	3.13
DXJ	0.78	0.25	0.21	0.42	0.58	(0.85)	2.13	(1.56)	4.81
IHI	0.72	(0.11)	0.00	(0.10)	0.00	0.00	1.42	(1.31)	4.45
SLYV	0.88	0.11	0.13	0.19	0.70	(1.13)	2.46	(1.81)	5.07

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