First Trust Correlations

QCLN Etf

USD 50.40 0.72 1.41%

The current 90-days correlation between First Trust NASDAQ and Northern Lights is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust NASDAQ moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust NASDAQ and DJI is 0.91 (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 NASDAQ and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

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

Moving together with First Etf

0.9	ICLN	iShares Global Clean	Pair Corr
0.95	XT	iShares Exponential	Pair Corr
0.87	TAN	Invesco Solar ETF	Pair Corr
0.91	BOTZ	Global X Robotics	Pair Corr
0.98	DRIV	Global X Autonomous	Pair Corr
0.97	ACES	ALPS Clean Energy	Pair Corr
0.76	DHF	BNY Mellon High	Pair Corr
0.94	ARP	Advisors Inner Circle	Pair Corr
0.84	PXMV	Invesco SP MidCap	Pair Corr
0.88	IGA	Voya Global Advantage	Pair Corr
0.69	SEMI	Columbia Seligman	Pair Corr
0.94	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.97	CTEX	ProShares SP Kensho Potential Growth	Pair Corr
0.96	ESML	iShares ESG Aware	Pair Corr
0.92	FNDC	Schwab Fundamental	Pair Corr
0.9	JANW	AIM ETF Products	Pair Corr
0.94	FPXE	First Trust IPOX	Pair Corr
0.89	TAXT	Northern Trust Tax	Pair Corr
0.85	VTHR	Vanguard Russell 3000	Pair Corr
0.9	XAUG	FT Cboe Vest	Pair Corr
0.93	PFFA	Virtus InfraCap Preferred	Pair Corr
0.81	UDI	USCF ETF Trust	Pair Corr
0.78	SFLO	VictoryShares Small Cap	Pair Corr
0.66	BBH	VanEck Biotech ETF	Pair Corr
0.89	EMES	Harbor ETF Trust	Pair Corr
0.93	WLDR	Affinity World Leaders	Pair Corr
0.91	IAUM	iShares Gold Trust	Pair Corr
0.91	TOCT	Innovator Equity Defined	Pair Corr
0.79	NCPB	Nuveen Core Plus	Pair Corr
0.85	XFIX	Fm Investments Symbol Change	Pair Corr
0.92	PCEM	Litman Gregory Funds	Pair Corr

Moving against First Etf

0.71	ENTR	EntrepreneurShares	Pair Corr
0.44	PLT	Defiance Leveraged Long	Pair Corr
0.38	IPAY	Amplify Digital Payments	Pair Corr

Related Correlations Analysis

	HEGD	GXC	JUST	OSEA	SGDM	PBW	PSFF	ROUS	EQL	PTL
HEGD		0.63	0.84	0.7	0.66	0.8	0.8	0.78	0.69	0.73	HEGD
GXC	0.63		0.66	0.7	0.71	0.83	0.64	0.67	0.64	0.62	GXC
JUST	0.84	0.66		0.89	0.73	0.79	0.94	0.78	0.74	0.85	JUST
OSEA	0.7	0.7	0.89		0.76	0.75	0.89	0.81	0.8	0.85	OSEA
SGDM	0.66	0.71	0.73	0.76		0.9	0.85	0.91	0.89	0.81	SGDM
PBW	0.8	0.83	0.79	0.75	0.9		0.85	0.87	0.81	0.82	PBW
PSFF	0.8	0.64	0.94	0.89	0.85	0.85		0.87	0.84	0.87	PSFF
ROUS	0.78	0.67	0.78	0.81	0.91	0.87	0.87		0.98	0.86	ROUS
EQL	0.69	0.64	0.74	0.8	0.89	0.81	0.84	0.98		0.83	EQL
PTL	0.73	0.62	0.85	0.85	0.81	0.82	0.87	0.86	0.83		PTL
	HEGD	GXC	JUST	OSEA	SGDM	PBW	PSFF	ROUS	EQL	PTL

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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
HEGD	0.31	(0.03)	0.00	(0.03)	0.00	0.00	0.60	(0.86)	1.98
GXC	0.77	(0.05)	0.00	(0.04)	0.00	0.00	1.76	(1.58)	5.60
JUST	0.57	0.00	(0.04)	(0.03)	0.81	(0.56)	1.04	(1.51)	3.65
OSEA	0.62	0.03	0.00	(0.86)	0.84	(0.60)	1.11	(1.35)	3.57
SGDM	2.25	0.41	0.11	0.34	3.46	(2.30)	5.33	(5.71)	19.96
PBW	1.97	0.03	0.03	0.05	2.61	(1.97)	3.67	(5.06)	11.81
PSFF	0.25	0.02	(0.06)	(0.50)	0.30	(0.26)	0.56	(0.54)	1.53
ROUS	0.63	0.05	0.06	0.10	0.65	(0.68)	1.29	(1.38)	3.64
EQL	0.46	0.07	0.09	0.14	0.48	(0.48)	1.01	(0.97)	2.73
PTL	0.79	0.00	0.02	0.00	1.06	(0.79)	1.41	(1.79)	5.51

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