First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange Traded
YDEC Etf  USD 23.09  0.03  0.13%   
The current 90-days correlation between First Trust Exchange and First Trust Exchange is 0.22 (i.e., Modest 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 Exchange Traded 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 Exchange Traded 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 Exchange Traded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with First Etf

  0.88INOV Innovator ETFs TrustPairCorr
  0.69BND Vanguard Total Bond Sell-off TrendPairCorr
  0.88VEA Vanguard FTSE DevelopedPairCorr
  0.9VWO Vanguard FTSE EmergingPairCorr
  0.65XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.7HPQ HP IncPairCorr
  0.84DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.65MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Moving against First Etf

  0.7PJAN Innovator SP 500PairCorr
  0.63PMAY Innovator SP 500PairCorr
  0.54VUG Vanguard Growth IndexPairCorr
  0.53PJUN Innovator SP 500PairCorr
  0.49BUFD FT Cboe VestPairCorr
  0.47BUFR First Trust CboePairCorr
  0.44PSEP Innovator SP 500PairCorr
  0.42PJUL Innovator SP 500PairCorr
  0.42PAUG Innovator Equity PowerPairCorr
  0.37DNOV FT Cboe VestPairCorr
  0.64AXP American Express Earnings Call TodayPairCorr
  0.62CSCO Cisco Systems Aggressive PushPairCorr
  0.59JPM JPMorgan ChasePairCorr
  0.59WMT Walmart Aggressive PushPairCorr
  0.56BA Boeing Earnings Call This WeekPairCorr
  0.47BAC Bank of AmericaPairCorr

Related Correlations Analysis

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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   
DDEC
+ 0.99
FDEC
FDEC
+ 0.91
QDEC
DDEC
+ 0.9
QDEC
DJUN
+ 0.85
FDEC
DJUN
+ 0.84
DDEC
DJUN
+ 0.81
QDEC
  
High negative correlations   
YMAR
- 0.65
QDEC
DDEC
- 0.62
YMAR
FDEC
- 0.61
YMAR
DJUN
- 0.4
YMAR

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.

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