FT Vest Correlations

QMNV Etf

20.37 0.04 0.20%

The current 90-days correlation between FT Vest Nasdaq and FT Vest Equity is 0.03 (i.e., Significant diversification). The correlation of FT Vest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

FT Vest Correlation With Market

Good diversification

The correlation between FT Vest Nasdaq 100 and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FT Vest Nasdaq 100 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 Nasdaq 100. 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 QMNV Etf

0.61

INOV

Innovator ETFs Trust

Pair Corr

Moving against QMNV Etf

0.6	BITX	Volatility Shares Trust	Pair Corr
0.48	DNOV	FT Cboe Vest	Pair Corr
0.45	PJAN	Innovator SP 500	Pair Corr
0.44	BUFD	FT Cboe Vest	Pair Corr
0.43	BUFR	First Trust Cboe	Pair Corr
0.42	PMAY	Innovator SP 500	Pair Corr
0.42	PJUN	Innovator SP 500	Pair Corr
0.42	WEBL	Direxion Daily Dow	Pair Corr
0.41	PSEP	Innovator SP 500	Pair Corr
0.41	PJUL	Innovator SP 500	Pair Corr
0.41	PAUG	Innovator Equity Power	Pair Corr
0.35	FNGU	MicroSectors FANG Index	Pair Corr
0.63	DIS	Walt Disney	Pair Corr
0.59	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.55	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.54	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.51	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.51	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.49	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.48	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.45	PG	Procter Gamble	Pair Corr
0.34	HD	Home Depot	Pair Corr
0.33	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.32	0.11	0.06	0.47	0.22	0.66	0.44	-0.43	0.42	META
MSFT	0.32		-0.24	0.08	0.27	0.13	0.2	0.12	0.15	-0.51	MSFT
UBER	0.11	-0.24		0.02	-0.55	0.18	-0.38	-0.34	0.29	0.39	UBER
F	0.06	0.08	0.02		0.33	-0.45	0.43	0.61	-0.42	0.35	F
T	0.47	0.27	-0.55	0.33		-0.34	0.87	0.85	-0.74	0.06	T
A	0.22	0.13	0.18	-0.45	-0.34		-0.29	-0.48	0.58	-0.05	A
CRM	0.66	0.2	-0.38	0.43	0.87	-0.29		0.92	-0.85	0.31	CRM
JPM	0.44	0.12	-0.34	0.61	0.85	-0.48	0.92		-0.87	0.28	JPM
MRK	-0.43	0.15	0.29	-0.42	-0.74	0.58	-0.85	-0.87		-0.41	MRK
XOM	0.42	-0.51	0.39	0.35	0.06	-0.05	0.31	0.28	-0.41		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

JPM	+ 0.92	CRM
CRM	+ 0.87	T
JPM	+ 0.85	T
CRM	+ 0.66	META
JPM	+ 0.61	F
MRK	+ 0.58	A

High negative correlations

MRK	- 0.87	JPM
MRK	- 0.85	CRM
MRK	- 0.74	T
T	- 0.55	UBER
XOM	- 0.51	MSFT
JPM	- 0.48	A

FT Vest Competition Risk-Adjusted Indicators

There is a big difference between QMNV 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	1.15	0.26	0.13	0.63	1.17	(1.34)	3.22	(1.87)	8.02
MSFT	0.88	0.07	0.01	0.23	1.35	(0.87)	2.09	(1.57)	8.19
UBER	1.78	(0.22)	0.00	(0.07)	0.00	0.00	2.69	(2.88)	20.41
F	1.43	(0.15)	(0.04)	0.01	2.22	(1.41)	2.53	(2.90)	11.21
T	0.98	0.15	0.03	3.35	1.06	(1.06)	2.36	(1.99)	6.74
A	1.22	0.01	(0.04)	0.14	1.48	(1.28)	2.71	(2.41)	9.02
CRM	1.46	0.39	0.28	0.39	1.01	(1.68)	3.59	(1.93)	13.87
JPM	1.08	(0.02)	0.05	0.10	1.30	(1.20)	1.73	(1.44)	15.87
MRK	0.92	(0.22)	0.00	(0.77)	0.00	0.00	2.00	(2.17)	4.89
XOM	0.96	(0.05)	0.00	(0.07)	0.00	0.00	1.83	(2.65)	6.06

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