First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange Traded
DDEC Etf  USD 40.14  0.01  0.02%   
The current 90-days correlation between First Trust Exchange and First Trust Exchange Traded is 0.93 (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.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Exchange Traded and DJI is 0.65 (i.e., Poor 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 Investing Opportunities 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 income.

Moving together with First Etf

  0.98BUFR First Trust CboePairCorr
  0.98BUFD FT Cboe VestPairCorr
  0.98PSEP Innovator SP 500PairCorr
  1.0PJAN Innovator SP 500PairCorr
  0.98PJUL Innovator SP 500PairCorr
  0.98PAUG Innovator Equity PowerPairCorr
  0.95DNOV FT Cboe VestPairCorr
  0.99PMAY Innovator SP 500PairCorr
  0.96PJUN Innovator SP 500PairCorr
  0.96UPRO ProShares UltraPro SP500PairCorr
  0.99QTJA Innovator ETFs TrustPairCorr
  0.87QTOC Innovator ETFs TrustPairCorr
  0.86XTOC Innovator ETFs TrustPairCorr
  0.99QTAP Innovator Growth 100PairCorr
  0.92TSJA TSJAPairCorr
  1.0XTJA Innovator ETFs TrustPairCorr
  0.94DSJA DSJAPairCorr
  0.98XDJA Innovator ETFs TrustPairCorr
  0.99XTAP Innovator Equity AccPairCorr
  0.8HD Home DepotPairCorr
  0.84T ATT Inc Aggressive PushPairCorr
  0.88BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.86INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.92CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.93AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.95AA Alcoa Corp Sell-off TrendPairCorr
  0.61XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.86WMT Walmart Aggressive PushPairCorr

Moving against First Etf

  0.88MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.84JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.84KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.65BA Boeing Fiscal Year End 29th of January 2025 PairCorr

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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