First Trust Correlations

UCON Etf

USD 25.18 0.02 0.08%

The current 90-days correlation between First Trust TCW and First Trust NASDAQ 100 Technology is 0.06 (i.e., Significant 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 TCW moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust TCW and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust TCW 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 TCW. 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

0.62	AMAX	Starboard Investment	Pair Corr
0.85	SSFI	Strategy Shares	Pair Corr
0.81	HYTR	Northern Lights	Pair Corr
0.75	INR	Infinity Natural Res Earnings Call This Week	Pair Corr
0.96	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.9	VTV	Vanguard Value Index	Pair Corr
0.85	FTCS	First Trust Capital	Pair Corr
0.96	ERET	iShares Environmentally	Pair Corr
0.9	HEFA	iShares Currency Hedged	Pair Corr
0.87	LQIG	SPDR MarketAxess Inv	Pair Corr
0.83	FNK	First Trust Mid	Pair Corr
0.72	COMB	GraniteShares Bloomberg	Pair Corr
0.97	EUSB	iShares Trust	Pair Corr
0.66	DIA	SPDR Dow Jones	Pair Corr
0.79	GLD	SPDR Gold Shares	Pair Corr
0.92	ASEA	Global X FTSE	Pair Corr
0.88	ITDD	iShares Trust	Pair Corr
0.79	AUMI	Themes Gold Miners	Pair Corr
0.93	LQDW	iShares Trust	Pair Corr
0.88	IEMG	iShares Core MSCI	Pair Corr
0.92	DWM	WisdomTree International	Pair Corr
0.83	UEVM	VictoryShares Emerging	Pair Corr
0.77	USO	United States Oil	Pair Corr
0.91	RHRX	Starboard Investment	Pair Corr
0.71	RSST	Return Stacked Stocks	Pair Corr
0.77	UCO	ProShares Ultra Bloomberg	Pair Corr

Moving against First Etf

0.82	VUG	Vanguard Growth Index	Pair Corr
0.8	VPC	Virtus Private Credit	Pair Corr
0.68	HYIN	WisdomTree Alternative	Pair Corr
0.42	IRE	Tidal Trust II Upward Rally	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.09	-0.11	-0.05	0.14	-0.2	-0.05	0.11	-0.01	0.15	META
MSFT	-0.09		0.84	-0.59	-0.87	0.84	0.94	0.44	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.54	-0.77	0.87	0.77	0.27	-0.82	-0.83	UBER
F	-0.05	-0.59	-0.54		0.35	-0.46	-0.5	-0.19	0.64	0.59	F
T	0.14	-0.87	-0.77	0.35		-0.76	-0.85	-0.37	0.79	0.8	T
A	-0.2	0.84	0.87	-0.46	-0.76		0.75	0.44	-0.77	-0.86	A
CRM	-0.05	0.94	0.77	-0.5	-0.85	0.75		0.58	-0.86	-0.93	CRM
JPM	0.11	0.44	0.27	-0.19	-0.37	0.44	0.58		-0.29	-0.47	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.77	-0.86	-0.29		0.93	MRK
XOM	0.15	-0.95	-0.83	0.59	0.8	-0.86	-0.93	-0.47	0.93		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

CRM	+ 0.94	MSFT
XOM	+ 0.93	MRK
A	+ 0.87	UBER
UBER	+ 0.84	MSFT
A	+ 0.84	MSFT
XOM	+ 0.8	T

High negative correlations

XOM	- 0.95	MSFT
XOM	- 0.93	CRM
MRK	- 0.92	MSFT
T	- 0.87	MSFT
MRK	- 0.86	CRM
XOM	- 0.86	A

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	1.47	0.07	0.03	0.12	1.58	(1.57)	2.38	(2.81)	13.69
MSFT	1.33	(0.28)	0.00	(0.60)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.55	(0.17)	0.00	(0.34)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.03)	0.00	1.61	0.00	0.00	3.61	(2.59)	9.82
T	1.07	0.20	0.14	(0.72)	0.94	(1.26)	3.87	(1.76)	7.44
A	1.22	(0.40)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.78	(0.27)	0.00	(0.21)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.25	(0.09)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	8.17
MRK	1.20	0.21	0.13	0.55	1.27	(1.26)	2.54	(2.06)	7.10
XOM	1.34	0.41	0.26	3.02	1.14	(1.59)	2.90	(2.44)	6.83

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