FT Vest Correlations

OCTM Etf

30.81 0.03 0.1%

The current 90-days correlation between FT Vest Equity and Innovator SP 500 is 0.9 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FT Vest moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FT Vest Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

FT Vest Correlation With Market

Weak diversification

The correlation between FT Vest Equity and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FT Vest Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in FT Vest Equity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with OCTM Etf

0.98	BUFR	First Trust Cboe	Pair Corr
0.97	BUFD	FT Cboe Vest	Pair Corr
0.96	PSEP	Innovator SP 500	Pair Corr
0.9	PJAN	Innovator SP 500	Pair Corr
0.96	PJUL	Innovator SP 500	Pair Corr
0.97	PAUG	Innovator Equity Power	Pair Corr
0.9	DNOV	FT Cboe Vest	Pair Corr
0.97	PMAY	Innovator SP 500	Pair Corr
0.98	PJUN	Innovator SP 500	Pair Corr
0.85	VTI	Vanguard Total Stock	Pair Corr
0.88	SPY	SPDR SP 500	Pair Corr
0.88	IVV	iShares Core SP	Pair Corr
0.9	VUG	Vanguard Growth Index	Pair Corr
0.67	BAC	Bank of America Sell-off Trend	Pair Corr
0.84	JPM	JPMorgan Chase	Pair Corr
0.93	AXP	American Express	Pair Corr
0.64	BA	Boeing	Pair Corr
0.75	MMM	3M Company	Pair Corr
0.77	IBM	International Business Upward Rally	Pair Corr
0.86	WMT	Walmart Aggressive Push	Pair Corr
0.89	CSCO	Cisco Systems	Pair Corr
0.68	MSFT	Microsoft Downward Rally	Pair Corr

Moving against OCTM Etf

0.53	HPQ	HP Inc	Pair Corr
0.51	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.44	INTC	Intel	Pair Corr
0.44	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.37	MRK	Merck Company Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.62	-0.43	-0.5	0.58	0.77	0.5	0.62	-0.15	-0.63	META
MSFT	0.62		-0.46	-0.23	0.48	0.4	0.6	0.3	-0.01	-0.46	MSFT
UBER	-0.43	-0.46		0.65	-0.3	-0.2	-0.71	-0.25	0.31	0.78	UBER
F	-0.5	-0.23	0.65		0.05	-0.32	-0.17	-0.06	0.09	0.9	F
T	0.58	0.48	-0.3	0.05		0.41	0.67	0.59	-0.17	-0.17	T
A	0.77	0.4	-0.2	-0.32	0.41		0.25	0.72	-0.21	-0.39	A
CRM	0.5	0.6	-0.71	-0.17	0.67	0.25		0.5	-0.29	-0.41	CRM
JPM	0.62	0.3	-0.25	-0.06	0.59	0.72	0.5		-0.55	-0.24	JPM
MRK	-0.15	-0.01	0.31	0.09	-0.17	-0.21	-0.29	-0.55		0.16	MRK
XOM	-0.63	-0.46	0.78	0.9	-0.17	-0.39	-0.41	-0.24	0.16		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.9	F
XOM	+ 0.78	UBER
A	+ 0.77	META
JPM	+ 0.72	A
CRM	+ 0.67	T
F	+ 0.65	UBER

High negative correlations

CRM	- 0.71	UBER
XOM	- 0.63	META
MRK	- 0.55	JPM
F	- 0.5	META
XOM	- 0.46	MSFT
UBER	- 0.46	MSFT

FT Vest Competition Risk-Adjusted Indicators

There is a big difference between OCTM Etf performing well and FT Vest 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 FT Vest'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
META	1.41	0.26	0.13	0.73	1.40	(1.61)	3.43	(2.31)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.56	(0.23)	0.00	(3.08)	0.00	0.00	2.67	(5.35)	12.29
F	1.47	(0.18)	0.00	(0.20)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.20	0.19	0.11	0.48	1.06	(1.46)	2.92	(2.16)	8.06
CRM	1.51	0.34	0.15	2.71	1.42	(1.76)	3.70	(2.88)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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