First Trust Correlations

XPND Etf

USD 36.61 0.75 2.09%

The current 90-days correlation between First Trust Expanded and NestYield Dynamic Income is 0.89 (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.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust Expanded and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Expanded 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 Expanded. 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

0.81	VGT	Vanguard Information	Pair Corr
0.88	XLK	Technology Select Sector	Pair Corr
0.88	IYW	iShares Technology ETF	Pair Corr
0.66	CIBR	First Trust NASDAQ	Pair Corr
0.81	FTEC	Fidelity MSCI Information	Pair Corr
0.72	IGV	iShares Expanded Tech	Pair Corr
0.76	FDN	First Trust Dow	Pair Corr
0.65	IGM	iShares Expanded Tech	Pair Corr
0.67	MSFT	Microsoft	Pair Corr

Moving against First Etf

0.5	MRK	Merck Company	Pair Corr
0.54	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	EGGY	TEK	KEMQ	THTA	UBOT	WUGI	PSTR	AIVC	APRJ	SPXV
EGGY		0.92	0.65	-0.48	0.76	0.69	-0.29	0.52	-0.6	0.26	EGGY
TEK	0.92		0.66	-0.3	0.75	0.72	-0.17	0.75	-0.41	0.47	TEK
KEMQ	0.65	0.66		-0.26	0.68	0.48	-0.04	0.42	-0.33	0.3	KEMQ
THTA	-0.48	-0.3	-0.26		-0.09	-0.01	0.87	0.3	0.94	0.66	THTA
UBOT	0.76	0.75	0.68	-0.09		0.68	0.23	0.58	-0.16	0.48	UBOT
WUGI	0.69	0.72	0.48	-0.01	0.68		0.15	0.61	-0.13	0.54	WUGI
PSTR	-0.29	-0.17	-0.04	0.87	0.23	0.15		0.31	0.87	0.7	PSTR
AIVC	0.52	0.75	0.42	0.3	0.58	0.61	0.31		0.21	0.8	AIVC
APRJ	-0.6	-0.41	-0.33	0.94	-0.16	-0.13	0.87	0.21		0.55	APRJ
SPXV	0.26	0.47	0.3	0.66	0.48	0.54	0.7	0.8	0.55		SPXV
	EGGY	TEK	KEMQ	THTA	UBOT	WUGI	PSTR	AIVC	APRJ	SPXV

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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

APRJ	+ 0.94	THTA
TEK	+ 0.92	EGGY
PSTR	+ 0.87	THTA
APRJ	+ 0.87	PSTR
SPXV	+ 0.8	AIVC
UBOT	+ 0.76	EGGY

High negative correlations

APRJ	- 0.6	EGGY
THTA	- 0.48	EGGY
APRJ	- 0.41	TEK
APRJ	- 0.33	KEMQ
THTA	- 0.3	TEK
PSTR	- 0.29	EGGY

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
EGGY	1.37	(0.09)	0.00	(0.64)	0.00	0.00	2.45	(3.80)	8.04
TEK	1.21	(0.03)	0.00	(0.08)	0.00	0.00	2.20	(3.13)	7.42
KEMQ	1.11	(0.05)	(0.03)	0.03	1.52	(1.19)	2.75	(2.27)	6.97
THTA	0.30	0.05	(0.06)	(1.96)	0.36	(0.39)	0.89	(0.81)	2.65
UBOT	2.35	(0.04)	0.03	0.06	3.01	(2.51)	4.69	(4.73)	12.33
WUGI	1.43	0.02	(0.02)	0.45	2.63	(1.46)	2.29	(2.67)	29.21
PSTR	0.37	0.00	(0.06)	0.08	0.41	(0.37)	0.75	(0.71)	1.86
AIVC	1.44	0.13	0.03	0.86	1.96	(1.33)	2.77	(3.70)	8.09
APRJ	0.06	0.01	(0.82)	0.23	0.00	(0.09)	0.16	(0.08)	0.45
SPXV	0.61	0.01	(0.06)	0.12	0.89	(0.62)	1.44	(1.39)	3.64

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