First Trust Correlations

QJUN Etf

USD 28.78 0.21 0.74%

The current 90-days correlation between First Trust Exchange and First Trust Exchange is 0.79 (i.e., Poor 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 Exchange Traded moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust Exchange Traded and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange Traded 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 First Trust Exchange Traded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with First Etf

0.94	BUFR	First Trust Cboe	Pair Corr
0.93	BUFD	FT Cboe Vest	Pair Corr
0.82	PSEP	Innovator SP 500	Pair Corr
0.8	PJAN	Innovator SP 500	Pair Corr
0.92	PJUL	Innovator SP 500	Pair Corr
0.93	PAUG	Innovator Equity Power	Pair Corr
0.76	DNOV	FT Cboe Vest	Pair Corr
0.94	PMAY	Innovator SP 500	Pair Corr
0.94	PJUN	Innovator SP 500	Pair Corr
0.72	VTI	Vanguard Total Stock	Pair Corr
0.75	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.86	IVV	iShares Core SP	Pair Corr
0.99	VUG	Vanguard Growth Index	Pair Corr
0.62	JPM	JPMorgan Chase	Pair Corr
0.78	AXP	American Express Earnings Call Today	Pair Corr
0.65	BA	Boeing Earnings Call This Week	Pair Corr
0.87	WMT	Walmart Aggressive Push	Pair Corr
0.84	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.71	MSFT	Microsoft Earnings Call This Week	Pair Corr

Moving against First Etf

0.42	VEA	Vanguard FTSE Developed	Pair Corr
0.41	INOV	Innovator ETFs Trust	Pair Corr
0.4	VWO	Vanguard FTSE Emerging	Pair Corr
0.69	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.56	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.55	HPQ	HP Inc	Pair Corr
0.46	INTC	Intel Aggressive Push	Pair Corr
0.46	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.32	TRV	The Travelers Companies	Pair Corr
0.31	GE	GE Aerospace Buyout Trend	Pair Corr

Related Correlations Analysis

	QDEC	QSPT	FJUN	YJUN	DJAN
QDEC		0.95	0.87	-0.58	0.89	QDEC
QSPT	0.95		0.93	-0.49	0.86	QSPT
FJUN	0.87	0.93		-0.29	0.76	FJUN
YJUN	-0.58	-0.49	-0.29		-0.6	YJUN
DJAN	0.89	0.86	0.76	-0.6		DJAN
	QDEC	QSPT	FJUN	YJUN	DJAN

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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

QSPT	+ 0.95	QDEC
FJUN	+ 0.93	QSPT
DJAN	+ 0.89	QDEC
FJUN	+ 0.87	QDEC
DJAN	+ 0.86	QSPT
DJAN	+ 0.76	FJUN

High negative correlations

DJAN	- 0.6	YJUN
YJUN	- 0.58	QDEC
YJUN	- 0.49	QSPT
YJUN	- 0.29	FJUN

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
QDEC	0.29	0.07	0.06	1.10	0.23	(0.30)	0.98	(0.81)	2.16
QSPT	0.42	0.07	0.05	26.55	0.50	(0.44)	0.86	(0.93)	3.04
FJUN	0.35	0.04	0.01	1.82	0.50	(0.36)	0.76	(0.80)	3.46
YJUN	0.33	(0.05)	0.00	(0.23)	0.00	0.00	0.73	(0.72)	2.33
DJAN	0.11	0.03	(0.01)	0.81	0.00	(0.13)	0.36	(0.18)	1.11

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