First Trust Correlations

YMAR Etf  USD 23.01  0.08  0.35%   
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

Very weak diversification

The correlation between First Trust Exchange Traded and DJI is 0.44 (i.e., Very weak 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 nation.

Moving together with First Etf

  0.71INOV Innovator ETFs TrustPairCorr
  0.84PFE Pfizer Inc Aggressive PushPairCorr
  0.63MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr
  0.71JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.89KO Coca Cola Sell-off TrendPairCorr

Moving against First Etf

  0.85MEME Roundhill InvestmentsPairCorr
  0.84RSPY Tuttle Capital ManagementPairCorr
  0.77DSJA DSJAPairCorr
  0.73CVX Chevron Corp Sell-off TrendPairCorr
  0.71DNOV FT Cboe VestPairCorr
  0.67PJAN Innovator SP 500PairCorr
  0.64BUFD FT Cboe VestPairCorr
  0.62BUFR First Trust CboePairCorr
  0.61PMAY Innovator SP 500PairCorr
  0.6PJUN Innovator SP 500PairCorr
  0.58PJUL Innovator SP 500PairCorr
  0.57PSEP Innovator SP 500PairCorr
  0.57PAUG Innovator Equity PowerPairCorr
  0.57AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.86BAC Bank of America Aggressive PushPairCorr
  0.83JPM JPMorgan Chase Sell-off TrendPairCorr
  0.78WMT Walmart Aggressive PushPairCorr
  0.43INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.43HPQ HP IncPairCorr
  0.31HD Home Depot Sell-off TrendPairCorr

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   
GSHDSEIC
SEICIPSHX
GSHDIPSHX
KNFIPSHX
IDIPSHX
SEICKNF
  
High negative correlations   
GSHDCIRAX
SEICCIRAX
GSHDAAVXF
SEICAAVXF
CIRAXAAVXF
LICYAAVXF

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AAVXF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
IPSHX  0.55  0.03  0.02  0.15  0.45 
 1.13 
 3.97 
MSTSX  0.49 (0.04)(0.13) 0.05  0.51 
 1.21 
 2.80 
ID  3.89  0.70  0.13  0.81  4.01 
 7.89 
 20.54 
MLGF  0.34  0.00 (0.17) 0.11  0.38 
 1.11 
 3.13 
KNF  1.55  0.23  0.14  0.23  1.88 
 2.77 
 12.78 
LICY  6.67  0.75  0.10  0.99  6.75 
 14.15 
 55.51 
CIRAX  0.34 (0.05)(0.25) 0.00  0.43 
 0.66 
 1.81 
SEIC  0.80  0.22  0.20  0.38  0.56 
 1.57 
 7.23 
GSHD  1.67  0.71  0.42 (6.94) 0.83 
 5.06 
 14.35