First Trust Correlations

XPND Etf

USD 30.47 0.05 0.16%

The current 90-days correlation between First Trust Expanded and First Trust Exchange Traded is 0.93 (i.e., Almost no 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

Poor diversification

The correlation between First Trust Expanded and DJI is 0.74 (i.e., Poor 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.

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 board of governors.

Moving together with First Etf

0.98	VGT	Vanguard Information	Pair Corr
0.95	XLK	Technology Select Sector	Pair Corr
0.98	IYW	iShares Technology ETF	Pair Corr
0.78	SMH	VanEck Semiconductor ETF	Pair Corr
0.96	CIBR	First Trust NASDAQ	Pair Corr
0.98	FTEC	Fidelity MSCI Information	Pair Corr
0.93	IGV	iShares Expanded Tech	Pair Corr
0.97	FDN	First Trust Dow	Pair Corr
0.99	IGM	iShares Expanded Tech	Pair Corr
0.73	DIG	ProShares Ultra Oil	Pair Corr
0.88	USD	ProShares Ultra Semi Potential Growth	Pair Corr
0.65	SGG	Barclays Capital	Pair Corr
0.86	YCS	ProShares UltraShort Yen Potential Growth	Pair Corr
0.86	TBT	ProShares UltraShort	Pair Corr
0.85	ATMP	Barclays ETN Select Low Volatility	Pair Corr
0.7	AMZA	InfraCap MLP ETF	Pair Corr
0.93	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.84	BAC	Bank of America Aggressive Push	Pair Corr
0.78	HD	Home Depot	Pair Corr
0.84	WMT	Walmart Aggressive Push	Pair Corr
0.69	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.84	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.76	DIS	Walt Disney	Pair Corr
0.69	T	ATT Inc Aggressive Push	Pair Corr

Moving against First Etf

0.63	NRGU	Bank Of Montreal	Pair Corr
0.84	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.77	KO	Coca Cola Aggressive Push	Pair Corr
0.72	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.59	PG	Procter Gamble	Pair Corr
0.59	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	ILDR	MDEV	YJUN	YDEC	YSEP
ILDR		-0.06	-0.56	-0.58	-0.44	ILDR
MDEV	-0.06		0.72	0.72	0.7	MDEV
YJUN	-0.56	0.72		0.99	0.96	YJUN
YDEC	-0.58	0.72	0.99		0.96	YDEC
YSEP	-0.44	0.7	0.96	0.96		YSEP
	ILDR	MDEV	YJUN	YDEC	YSEP

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

YDEC	+ 0.99	YJUN
YSEP	+ 0.96	YJUN
YSEP	+ 0.96	YDEC
YJUN	+ 0.72	MDEV
YDEC	+ 0.72	MDEV
YSEP	+ 0.7	MDEV

High negative correlations

YDEC	- 0.58	ILDR
YJUN	- 0.56	ILDR
YSEP	- 0.44	ILDR
MDEV	- 0.06	ILDR

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
ILDR	0.94	0.01	0.02	0.11	1.23	(1.00)	1.91	(2.61)	5.75
MDEV	0.59	(0.07)	0.00	(0.03)	0.00	0.00	1.37	(1.04)	3.02
YJUN	0.39	(0.09)	0.00	(0.22)	0.00	0.00	0.91	(0.79)	2.51
YDEC	0.52	(0.13)	0.00	(0.27)	0.00	0.00	1.31	(1.34)	3.33
YSEP	0.47	(0.10)	0.00	(0.14)	0.00	0.00	1.00	(0.97)	3.57

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC