First Trust Correlations

CIBR Etf

USD 66.36 0.41 0.61%

The current 90-days correlation between First Trust NASDAQ and Amplify ETF Trust is 0.06 (i.e., Significant 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

Weak diversification

The correlation between First Trust NASDAQ and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NASDAQ 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 NASDAQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Etf

0.91	FDN	First Trust Dow	Pair Corr
0.85	IGM	iShares Expanded Tech	Pair Corr
0.87	ARKW	ARK Next Generation	Pair Corr
0.91	BST	BlackRock Science Tech	Pair Corr
0.82	GE	GE Aerospace	Pair Corr
0.85	JPM	JPMorgan Chase	Pair Corr
0.82	MMM	3M Company	Pair Corr
0.93	WMT	Walmart	Pair Corr
0.68	KO	Coca Cola Aggressive Push	Pair Corr
0.68	AXP	American Express	Pair Corr
0.8	T	ATT Inc Aggressive Push	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr

Moving against First Etf

0.36	IRET	iREIT MarketVector	Pair Corr
0.37	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr
0.35	XOM	Exxon Mobil Corp	Pair Corr
0.35	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	HACK	BUG	IHAK	SKYY	CLOU
HACK		0.79	0.79	0.86	0.7	HACK
BUG	0.79		0.94	0.84	0.69	BUG
IHAK	0.79	0.94		0.9	0.77	IHAK
SKYY	0.86	0.84	0.9		0.87	SKYY
CLOU	0.7	0.69	0.77	0.87		CLOU
	HACK	BUG	IHAK	SKYY	CLOU

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HACK	1.03	0.12	0.08	(2.07)	1.33	(0.96)	2.30	(2.27)	7.41
BUG	0.97	0.07	0.05	0.87	1.32	(0.99)	2.02	(1.90)	7.43
IHAK	0.88	0.01	0.01	0.06	1.24	(0.87)	1.70	(1.69)	6.15
SKYY	1.25	0.05	0.03	0.26	1.76	(1.17)	2.82	(2.63)	7.86
CLOU	1.17	0.09	0.06	0.09	1.41	(1.26)	1.92	(2.08)	8.82

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