First Trust Correlations

QDEC Etf

USD 32.16 0.20 0.62%

The current 90-days correlation between First Trust Exchange and First Trust Exchange Traded is 0.89 (i.e., Very 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.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Exchange and DJI is 0.77 (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 housing.

Moving together with First Etf

0.91	BUFR	First Trust Cboe	Pair Corr
0.84	BUFD	FT Cboe Vest	Pair Corr
0.92	PSEP	Innovator SP 500	Pair Corr
0.83	PJAN	Innovator SP 500	Pair Corr
0.83	PJUL	Innovator SP 500	Pair Corr
0.84	PAUG	Innovator Equity Power	Pair Corr
0.92	DNOV	FT Cboe Vest	Pair Corr
0.81	PMAY	Innovator SP 500	Pair Corr
0.75	ACII	Innovator ETFs Trust	Pair Corr
0.69	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.7	JNUG	Direxion Daily Junior	Pair Corr
0.66	NUGT	Direxion Daily Gold	Pair Corr
0.7	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.62	IJS	iShares SP Small	Pair Corr
0.63	FNDA	Schwab Fundamental Small	Pair Corr
0.93	GOCT	FT Cboe Vest	Pair Corr
0.8	QTAP	Innovator Growth 100	Pair Corr

Moving against First Etf

0.36

ENTR

EntrepreneurShares

Pair Corr

Related Correlations Analysis

	QSPT	QMAR	QJUN	GJUL	DECW	ZALT	GJUN	SGDM	QCLN	GMAY
QSPT		0.7	0.93	0.8	0.85	0.77	0.75	0.5	0.61	0.75	QSPT
QMAR	0.7		0.89	0.95	0.92	0.94	0.96	0.85	0.89	0.96	QMAR
QJUN	0.93	0.89		0.95	0.97	0.93	0.93	0.72	0.8	0.92	QJUN
GJUL	0.8	0.95	0.95		0.98	0.98	0.99	0.83	0.89	0.99	GJUL
DECW	0.85	0.92	0.97	0.98		0.97	0.97	0.78	0.85	0.97	DECW
ZALT	0.77	0.94	0.93	0.98	0.97		0.98	0.81	0.87	0.98	ZALT
GJUN	0.75	0.96	0.93	0.99	0.97	0.98		0.85	0.91	1.0	GJUN
SGDM	0.5	0.85	0.72	0.83	0.78	0.81	0.85		0.94	0.85	SGDM
QCLN	0.61	0.89	0.8	0.89	0.85	0.87	0.91	0.94		0.91	QCLN
GMAY	0.75	0.96	0.92	0.99	0.97	0.98	1.0	0.85	0.91		GMAY
	QSPT	QMAR	QJUN	GJUL	DECW	ZALT	GJUN	SGDM	QCLN	GMAY

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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
QSPT	0.48	(0.03)	(0.07)	0.02	0.69	(0.45)	0.93	(1.10)	3.00
QMAR	0.18	0.03	(0.11)	25.97	0.11	(0.20)	0.40	(0.45)	1.60
QJUN	0.32	0.01	(0.07)	0.08	0.42	(0.30)	0.79	(0.79)	2.11
GJUL	0.23	0.00	(0.10)	0.07	0.25	(0.24)	0.51	(0.64)	1.74
DECW	0.25	0.01	(0.09)	0.08	0.26	(0.27)	0.56	(0.47)	2.29
ZALT	0.23	0.01	(0.10)	0.09	0.25	(0.23)	0.50	(0.61)	1.58
GJUN	0.16	0.01	(0.15)	0.11	0.08	(0.18)	0.38	(0.33)	1.40
SGDM	2.23	0.57	0.14	0.61	3.46	(2.31)	5.33	(5.71)	19.96
QCLN	1.55	0.17	0.10	0.18	1.84	(1.58)	2.87	(2.86)	8.65
GMAY	0.17	0.01	(0.15)	0.11	0.09	(0.20)	0.44	(0.39)	1.18

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