First Trust Correlations

Etfs . USA . 
Etf . First Trust Cboe
BUFR Etf  USD 30.61  0.03  0.1%   
The current 90-days correlation between First Trust Cboe and FT Cboe Vest is 0.91 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Cboe and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Cboe and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in First Trust Cboe. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with First Etf

  1.0BUFD FT Cboe VestPairCorr
  1.0PSEP Innovator SP 500PairCorr
  0.99PJAN Innovator SP 500PairCorr
  1.0PJUL Innovator SP 500PairCorr
  1.0PAUG Innovator Equity PowerPairCorr
  0.95DNOV FT Cboe VestPairCorr
  0.99PMAY Innovator SP 500PairCorr
  1.0PJUN Innovator SP 500PairCorr
  0.9DSJA DSJAPairCorr
  0.87RSPY Tuttle Capital ManagementPairCorr
  0.85MEME Roundhill InvestmentsPairCorr
  0.85ITDD iShares TrustPairCorr
  0.94AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.88CVX Chevron Corp Sell-off TrendPairCorr
  0.91INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.78JPM JPMorgan Chase Sell-off TrendPairCorr
  0.87HPQ HP IncPairCorr
  0.87BAC Bank of America Aggressive PushPairCorr
  0.85CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.82HD Home Depot Sell-off TrendPairCorr
  0.88WMT Walmart Aggressive PushPairCorr

Moving against First Etf

  0.8JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.78KO Coca Cola Sell-off TrendPairCorr
  0.65PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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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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