First Trust Correlations

BICK Etf

USD 27.93 0.00 0.00%

The current 90-days correlation between First Trust and Global X MSCI is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Average diversification

The correlation between First Trust and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.82	FNGU	MicroSectors FANG Index	Pair Corr
0.83	FNGO	MicroSectors FANG Index	Pair Corr
0.79	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.67	TECL	Direxion Daily Technology	Pair Corr
0.83	FNGS	MicroSectors FANG ETN	Pair Corr
0.8	QLD	ProShares Ultra QQQ	Pair Corr
0.7	ROM	ProShares Ultra Tech	Pair Corr
0.8	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.78	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.79	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.62	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.78	WMT	Walmart	Pair Corr

Moving against First Etf

0.74	EMXC	iShares MSCI Emerging	Pair Corr
0.69	DGS	WisdomTree Emerging	Pair Corr
0.43	EMC	Global X Funds	Pair Corr
0.42	IEMG	iShares Core MSCI	Pair Corr
0.39	EEM	iShares MSCI Emerging	Pair Corr
0.39	ESGE	iShares ESG Aware	Pair Corr
0.35	XSOE	WisdomTree Emerging	Pair Corr
0.87	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.83	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.78	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.62	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.56	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.46	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.32	MCD	McDonalds Sell-off Trend	Pair Corr

Related Correlations Analysis

	EFAS	ALTY	DVYE	SRET	SPFF
EFAS		-0.37	0.21	0.88	-0.08	EFAS
ALTY	-0.37		-0.12	-0.2	0.78	ALTY
DVYE	0.21	-0.12		-0.05	0.22	DVYE
SRET	0.88	-0.2	-0.05		0.0	SRET
SPFF	-0.08	0.78	0.22	0.0		SPFF
	EFAS	ALTY	DVYE	SRET	SPFF

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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

SRET	+ 0.88	EFAS
SPFF	+ 0.78	ALTY
SPFF	+ 0.22	DVYE
DVYE	+ 0.21	EFAS
SPFF	+ 0.0	SRET

High negative correlations

ALTY	- 0.37	EFAS
SRET	- 0.2	ALTY
DVYE	- 0.12	ALTY
SPFF	- 0.08	EFAS
SRET	- 0.05	DVYE
SPFF	- 0.0	SRET

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
EFAS	0.69	(0.07)	0.00	13.83	0.00	0.00	1.20	(1.54)	4.04
ALTY	0.30	0.00	(0.18)	0.08	0.34	(0.31)	0.76	(0.59)	1.70
DVYE	0.92	0.09	0.00	1.22	1.07	(1.02)	2.71	(1.81)	7.34
SRET	0.54	(0.10)	0.00	(0.37)	0.00	0.00	0.90	(1.31)	3.46
SPFF	0.35	0.00	(0.18)	0.07	0.38	(0.41)	0.83	(0.72)	1.98

First Trust Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with First Trust etf to make a market-neutral strategy. Peer analysis of First Trust could also be used in its relative valuation, which is a method of valuing First Trust by comparing valuation metrics with similar companies.

Global X MSCI Global X Alternative iShares Emerging Markets Global X SuperDividend Global X SuperIncome American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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