First Trust Correlations

SCIO Etf

USD 20.98 0.07 0.33%

The current 90-days correlation between First Trust Structured and FT Cboe Vest is -0.14 (i.e., Good 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 Structured moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Structured and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Structured and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in First Trust Structured. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

0.91	AXSIX	Axonic Strategic Income	Pair Corr
0.65	JPIE	JP Morgan Exchange	Pair Corr
0.96	MUSI	American Century Mul	Pair Corr
0.92	EMCB	WisdomTree Emerging	Pair Corr
0.65	PCY	Invesco Emerging Markets	Pair Corr
0.92	WIP	SPDR FTSE International	Pair Corr
0.8	IGOV	iShares International	Pair Corr
0.97	MSTI	Madison ETFs Trust	Pair Corr
0.7	UMAY	Innovator ETFs Trust	Pair Corr
0.66	CHPS	Xtrackers Semiconductor	Pair Corr
0.92	SCDV	ETF Series Solutions	Pair Corr
0.66	TLCI	Touchstone ETF Trust	Pair Corr
0.71	XYLD	Global X SP	Pair Corr
0.7	SIXJ	AIM ETF Products	Pair Corr
0.91	STXE	EA Series Trust	Pair Corr
0.9	GAPR	First Trust Exchange	Pair Corr
0.7	IQSZ	Invesco Actively Managed	Pair Corr
0.94	LVHI	Franklin International	Pair Corr
0.63	AUMI	Themes Gold Miners	Pair Corr
0.87	FB	ProShares Trust ProShares	Pair Corr
0.64	BMVP	Invesco Bloomberg MVP	Pair Corr
0.67	PSFD	Pacer Swan SOS	Pair Corr
0.68	NULV	Nuveen ESG Large	Pair Corr
0.96	TAXT	Northern Trust Tax	Pair Corr
0.97	BSMS	Invesco BulletShares 2028	Pair Corr
0.64	JEPI	JPMorgan Equity Premium	Pair Corr

Moving against First Etf

0.32

XFIX

Fm Investments Symbol Change

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

First Trust Competition 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
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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