First Trust Correlations

DALI Etf

USD 24.40 0.05 0.20%

The current 90-days correlation between First Trust Dorsey and First Trust Horizon is 0.54 (i.e., Very weak 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

Poor diversification

The correlation between First Trust Dorsey and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Dorsey and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Dorsey. 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 economic analysis.

Moving together with First Etf

0.81	FVC	First Trust Dorsey	Pair Corr
0.72	GMOM	Cambria Global Momentum	Pair Corr
0.69	AGOX	Adaptive Alpha Oppor	Pair Corr
0.75	TACK	Fairlead Tactical Sector	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.78	BA	Boeing	Pair Corr
0.79	DIS	Walt Disney	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.72	MSFT	Microsoft	Pair Corr

Moving against First Etf

0.81	FNGD	MicroSectors FANG Index	Pair Corr
0.65	TRV	The Travelers Companies	Pair Corr
0.46	JPST	JPMorgan Ultra Short	Pair Corr
0.56	JNJ	Johnson Johnson	Pair Corr
0.53	KO	Coca Cola	Pair Corr
0.45	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.44	MCD	McDonalds	Pair Corr
0.31	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	HUSV	DJAN	CU	MDEV	FV	MDIV	QQEW	QQXT	MFLX
HUSV		-0.17	0.0	0.04	-0.18	0.9	0.22	0.6	0.78	HUSV
DJAN	-0.17		0.0	0.75	0.94	0.06	0.86	0.63	-0.13	DJAN
CU	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CU
MDEV	0.04	0.75	0.0		0.81	0.29	0.7	0.61	-0.05	MDEV
FV	-0.18	0.94	0.0	0.81		0.05	0.89	0.65	-0.1	FV
MDIV	0.9	0.06	0.0	0.29	0.05		0.4	0.7	0.67	MDIV
QQEW	0.22	0.86	0.0	0.7	0.89	0.4		0.89	0.24	QQEW
QQXT	0.6	0.63	0.0	0.61	0.65	0.7	0.89		0.56	QQXT
MFLX	0.78	-0.13	0.0	-0.05	-0.1	0.67	0.24	0.56		MFLX
	HUSV	DJAN	CU	MDEV	FV	MDIV	QQEW	QQXT	MFLX

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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

FV	+ 0.94	DJAN
MDIV	+ 0.9	HUSV
QQEW	+ 0.89	FV
QQXT	+ 0.89	QQEW
QQEW	+ 0.86	DJAN
FV	+ 0.81	MDEV

High negative correlations

FV	- 0.18	HUSV
DJAN	- 0.17	HUSV
MFLX	- 0.13	DJAN
MFLX	- 0.1	FV
MFLX	- 0.05	MDEV
MFLX	- 0.0	CU

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
HUSV	0.57	0.07	0.13	0.07	0.68	(0.60)	1.10	(1.32)	3.02
DJAN	0.29	(0.02)	0.00	(0.13)	0.00	0.00	0.61	(0.77)	2.02
CU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MDEV	0.71	(0.03)	0.00	(0.11)	0.00	0.00	1.17	(1.47)	4.54
FV	0.92	(0.08)	0.00	(0.15)	0.00	0.00	1.48	(2.56)	5.10
MDIV	0.43	0.03	0.13	0.02	0.54	(0.48)	0.86	(0.85)	2.20
QQEW	0.85	(0.04)	0.00	(0.12)	0.00	0.00	1.53	(1.97)	4.54
QQXT	0.63	(0.02)	0.00	(0.10)	0.00	0.00	1.21	(1.40)	3.19
MFLX	0.34	(0.01)	0.00	(0.33)	0.00	0.00	0.72	(0.83)	1.99

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