First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange
QDEC Etf  USD 32.81  0.18  0.55%   
The current 90-days correlation between First Trust Exchange and First Trust Exchange Traded is 0.94 (i.e., Almost no 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

Poor diversification

The correlation between First Trust Exchange and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange 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 Exchange. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with First Etf

  0.87INOV Innovator ETFs TrustPairCorr
  0.99BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  0.98PSEP Innovator SP 500PairCorr
  0.97PJAN Innovator SP 500PairCorr
  0.99PJUL Innovator SP 500PairCorr
  0.98PAUG Innovator Equity PowerPairCorr
  0.92DNOV FT Cboe VestPairCorr
  0.97PMAY Innovator SP 500PairCorr
  0.95ACII Innovator ETFs TrustPairCorr
  0.86JPST JPMorgan Ultra ShortPairCorr
  0.94FB ProShares Trust ProSharesPairCorr
  0.9TOT Advisor Managed PortPairCorr
  0.86GSX Tradr 2X LongPairCorr
  0.76WMT Walmart Common StockPairCorr
  0.84AXP American ExpressPairCorr
  0.71XOM Exxon Mobil CorpPairCorr
  0.9AA Alcoa CorpPairCorr
  0.82JPM JPMorgan Chase Earnings Call This WeekPairCorr
  0.73DD Dupont De NemoursPairCorr
  0.65JNJ Johnson JohnsonPairCorr

Moving against First Etf

  0.94VXX iPath Series BPairCorr
  0.71PG Procter GamblePairCorr
  0.7T ATT IncPairCorr
  0.52HD Home DepotPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
QSPT  0.48 (0.02)(0.08) 0.05  0.66 
(0.48)
 0.93 
(1.17)
 2.63 
QMAR  0.23  0.02 (0.15) 0.58  0.26 
(0.24)
 0.50 
(0.52)
 1.46 
QJUN  0.36 (0.01)(0.10) 0.06  0.47 
(0.36)
 0.80 
(0.85)
 2.22 
GJUL  0.25  0.00 (0.16) 0.07  0.28 
(0.26)
 0.52 
(0.52)
 1.36 
DECW  0.27  0.01 (0.13) 0.10  0.23 
(0.30)
 0.72 
(0.45)
 1.79 
ZALT  0.26 (0.01)(0.15) 0.07  0.30 
(0.26)
 0.50 
(0.59)
 1.60 
GJUN  0.19  0.00 (0.22) 0.08  0.16 
(0.20)
 0.39 
(0.39)
 1.13 
SGDM  2.02  0.19  0.05  0.50  2.94 
(2.09)
 4.45 
(4.84)
 14.32 
QCLN  1.91  0.00  0.04  0.09  2.17 
(1.93)
 3.71 
(3.89)
 13.58 
GMAY  0.20  0.00 (0.18) 0.09  0.22 
(0.20)
 0.44 
(0.42)
 1.17 

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