First Trust Correlations

TDIV Etf

USD 100.47 1.03 1.04%

The current 90-days correlation between First Trust NASDAQ and iShares Real Estate is 0.16 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust NASDAQ and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NASDAQ 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 NASDAQ. 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

0.88	VGT	Vanguard Information	Pair Corr
0.91	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.88	IYW	iShares Technology ETF	Pair Corr
0.88	FTEC	Fidelity MSCI Information	Pair Corr
0.65	FDN	First Trust Dow	Pair Corr
0.92	IGM	iShares Expanded Tech	Pair Corr

Moving against First Etf

0.4	KO	Coca Cola	Pair Corr
0.31	CSCO	Cisco Systems Aggressive Push	Pair Corr

Related Correlations Analysis

	VAW	XT	FV	RECS	SUSA	FEZ	FMDE	USMC	SKYY	IYR
VAW		0.86	0.97	0.75	0.77	0.92	0.91	-0.05	-0.59	0.42	VAW
XT	0.86		0.94	0.91	0.94	0.89	0.91	0.3	-0.2	0.35	XT
FV	0.97	0.94		0.82	0.87	0.92	0.93	0.07	-0.45	0.43	FV
RECS	0.75	0.91	0.82		0.98	0.8	0.86	0.45	-0.13	0.19	RECS
SUSA	0.77	0.94	0.87	0.98		0.79	0.87	0.41	-0.17	0.24	SUSA
FEZ	0.92	0.89	0.92	0.8	0.79		0.95	0.2	-0.39	0.32	FEZ
FMDE	0.91	0.91	0.93	0.86	0.87	0.95		0.27	-0.35	0.41	FMDE
USMC	-0.05	0.3	0.07	0.45	0.41	0.2	0.27		0.66	-0.03	USMC
SKYY	-0.59	-0.2	-0.45	-0.13	-0.17	-0.39	-0.35	0.66		-0.16	SKYY
IYR	0.42	0.35	0.43	0.19	0.24	0.32	0.41	-0.03	-0.16		IYR
	VAW	XT	FV	RECS	SUSA	FEZ	FMDE	USMC	SKYY	IYR

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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

SUSA	+ 0.98	RECS
FV	+ 0.97	VAW
FMDE	+ 0.95	FEZ
FV	+ 0.94	XT
SUSA	+ 0.94	XT
FMDE	+ 0.93	FV

High negative correlations

SKYY	- 0.59	VAW
SKYY	- 0.45	FV
SKYY	- 0.39	FEZ
SKYY	- 0.35	FMDE
SKYY	- 0.2	XT
SKYY	- 0.17	SUSA

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
VAW	0.81	0.14	0.15	0.21	0.62	(0.94)	1.96	(1.58)	4.00
XT	0.72	0.05	0.04	0.12	0.88	(0.76)	1.25	(1.73)	4.21
FV	0.73	0.07	0.07	0.14	0.75	(0.76)	1.58	(1.49)	3.25
RECS	0.52	0.01	(0.01)	0.08	0.75	(0.49)	1.21	(1.18)	3.67
SUSA	0.55	0.01	0.00	0.08	0.75	(0.54)	1.16	(1.20)	3.60
FEZ	0.64	0.10	0.05	1.15	0.63	(0.70)	1.22	(1.25)	3.56
FMDE	0.66	0.05	(0.01)	0.37	0.73	(0.68)	1.29	(1.51)	3.70
USMC	0.56	(0.02)	0.00	(0.13)	0.00	0.00	0.90	(1.28)	3.88
SKYY	1.13	(0.11)	0.00	(6.35)	0.00	0.00	2.19	(2.56)	5.98
IYR	0.58	(0.02)	0.00	(0.38)	0.00	0.00	1.18	(1.22)	3.47

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