First Trust Correlations

XPND Etf

USD 32.01 0.15 0.47%

The current 90-days correlation between First Trust Expanded and First Trust Exchange Traded is 0.92 (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

Modest diversification

The correlation between First Trust Expanded and DJI is 0.26 (i.e., Modest 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

0.96	VGT	Vanguard Information	Pair Corr
0.95	XLK	Technology Select Sector	Pair Corr
0.96	IYW	iShares Technology ETF	Pair Corr
0.95	CIBR	First Trust NASDAQ	Pair Corr
0.96	FTEC	Fidelity MSCI Information	Pair Corr
0.83	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.9	FDN	First Trust Dow	Pair Corr
0.96	IGM	iShares Expanded Tech	Pair Corr
0.9	VTI	Vanguard Total Stock	Pair Corr
0.94	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.93	IVV	iShares Core SP	Pair Corr
0.93	VUG	Vanguard Growth Index	Pair Corr
0.61	VB	Vanguard Small Cap	Pair Corr
0.71	RFDA	RiverFront Dynamic	Pair Corr

Related Correlations Analysis

	ILDR	MDEV	YJUN	YDEC	YSEP
ILDR		0.34	0.06	-0.07	0.1	ILDR
MDEV	0.34		0.78	0.69	0.81	MDEV
YJUN	0.06	0.78		0.93	0.98	YJUN
YDEC	-0.07	0.69	0.93		0.93	YDEC
YSEP	0.1	0.81	0.98	0.93		YSEP
	ILDR	MDEV	YJUN	YDEC	YSEP

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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

YSEP	+ 0.98	YJUN
YDEC	+ 0.93	YJUN
YSEP	+ 0.93	YDEC
YSEP	+ 0.81	MDEV
YJUN	+ 0.78	MDEV
YDEC	+ 0.69	MDEV

High negative correlations

YDEC

- 0.07

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	1.06	0.17	0.10	0.56	1.24	(1.15)	2.14	(1.90)	6.55
MDEV	0.55	0.02	(0.01)	0.10	0.66	(0.65)	1.14	(0.98)	3.84
YJUN	0.33	(0.02)	0.00	(0.14)	0.00	0.00	0.73	(0.72)	2.33
YDEC	0.46	(0.07)	0.00	(0.33)	0.00	0.00	1.12	(1.21)	3.63
YSEP	0.31	(0.02)	0.00	(0.13)	0.00	0.00	0.63	(0.68)	2.13

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