First Trust Correlations

XMAR Etf

40.14 0.01 0.02%

The current 90-days correlation between First Trust Exchange and Innovator SP 500 is 0.84 (i.e., Very poor 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

Almost no diversification

The correlation between First Trust Exchange and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in First Trust Exchange. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with First Etf

0.94	INOV	Innovator ETFs Trust	Pair Corr
0.98	BUFR	First Trust Cboe	Pair Corr
0.98	BUFD	FT Cboe Vest	Pair Corr
0.96	PSEP	Innovator SP 500	Pair Corr
0.99	PJAN	Innovator SP 500	Pair Corr
0.98	PJUL	Innovator SP 500	Pair Corr
0.97	PAUG	Innovator Equity Power	Pair Corr
0.94	DNOV	FT Cboe Vest	Pair Corr
0.99	PMAY	Innovator SP 500	Pair Corr
0.95	ACII	Innovator ETFs Trust	Pair Corr
0.87	GDXU	MicroSectors Gold Miners	Pair Corr
0.83	MUU	Direxion Daily MU Trending	Pair Corr
0.83	MULL	GraniteShares 2x Long Trending	Pair Corr
0.85	AGQ	ProShares Ultra Silver	Pair Corr
0.9	JNUG	Direxion Daily Junior	Pair Corr
0.75	KORU	Direxion Daily South	Pair Corr
0.89	NUGT	Direxion Daily Gold Sell-off Trend	Pair Corr
0.88	GDMN	WisdomTree Efficient Gold	Pair Corr
0.8	SHNY	Microsectors Gold	Pair Corr
0.93	SIL	Global X Silver	Pair Corr
0.97	RCGE	RockCreek Global Equality	Pair Corr
0.83	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr
0.88	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.77	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.86	BA	Boeing	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr
0.64	INTC	Intel Aggressive Push	Pair Corr
0.86	MRK	Merck Company Earnings Call Tomorrow	Pair Corr
0.95	AA	Alcoa Corp	Pair Corr

Moving against First Etf

0.74

HPQ

HP Inc Aggressive Push

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.16	-0.03	0.2	0.05	-0.35	0.25	0.14	0.04	0.16	META
MSFT	0.16		0.74	-0.55	0.28	0.35	0.44	-0.02	-0.8	-0.72	MSFT
UBER	-0.03	0.74		-0.48	0.33	0.52	0.1	-0.2	-0.8	-0.53	UBER
F	0.2	-0.55	-0.48		-0.52	-0.28	0.0	0.4	0.7	0.66	F
T	0.05	0.28	0.33	-0.52		0.46	-0.25	-0.27	-0.37	-0.38	T
A	-0.35	0.35	0.52	-0.28	0.46		-0.07	-0.06	-0.33	-0.56	A
CRM	0.25	0.44	0.1	0.0	-0.25	-0.07		0.69	-0.15	-0.5	CRM
JPM	0.14	-0.02	-0.2	0.4	-0.27	-0.06	0.69		0.29	-0.13	JPM
MRK	0.04	-0.8	-0.8	0.7	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.16	-0.72	-0.53	0.66	-0.38	-0.56	-0.5	-0.13	0.68		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

UBER	+ 0.74	MSFT
MRK	+ 0.7	F
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
XOM	+ 0.66	F
A	+ 0.52	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.56	A
F	- 0.55	MSFT
XOM	- 0.53	UBER

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	1.61	(0.08)	0.00	(0.04)	0.00	0.00	3.43	(2.72)	11.42
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.24	0.05	0.04	0.08	1.23	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.18)	0.00	(0.10)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

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