First Trust Correlations

DJAN Etf

USD 38.33 0.17 0.44%

The current 90-days correlation between First Trust Exchange and Innovator ETFs Trust is -0.12 (i.e., Good 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 Exchange Traded moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Exchange Traded and DJI is -0.12 (i.e., Good 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 nation.

Moving together with First Etf

0.92	BUFR	First Trust Cboe	Pair Corr
0.93	BUFD	FT Cboe Vest	Pair Corr
0.91	PSEP	Innovator SP 500	Pair Corr
0.9	PJAN	Innovator SP 500	Pair Corr
0.92	PJUL	Innovator SP 500	Pair Corr
0.91	PAUG	Innovator Equity Power	Pair Corr
0.92	DNOV	FT Cboe Vest	Pair Corr
0.71	PMAY	Innovator SP 500	Pair Corr
0.89	PJUN	Innovator SP 500	Pair Corr
0.73	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.86	BAC	Bank of America	Pair Corr
0.8	WMT	Walmart	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.63	MSFT	Microsoft	Pair Corr

Moving against First Etf

0.61	PMBS	PIMCO Mortgage Backed	Pair Corr
0.5	AMPD	Tidal Trust II	Pair Corr
0.47	FXY	Invesco CurrencyShares	Pair Corr
0.44	INOV	Innovator ETFs Trust	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.56	VZ	Verizon Communications Aggressive Push	Pair Corr
0.46	JNJ	Johnson Johnson	Pair Corr
0.44	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.42	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	INOV	BUFR	BUFD	PSEP	PJAN	PJUL	PAUG	DNOV	PMAY	PJUN
INOV		-0.32	-0.32	-0.26	-0.2	-0.3	-0.26	-0.33	0.13	-0.19	INOV
BUFR	-0.32		1.0	1.0	0.98	1.0	1.0	1.0	0.85	0.99	BUFR
BUFD	-0.32	1.0		0.99	0.98	1.0	0.99	0.99	0.85	0.98	BUFD
PSEP	-0.26	1.0	0.99		0.98	1.0	1.0	0.99	0.88	0.99	PSEP
PJAN	-0.2	0.98	0.98	0.98		0.98	0.98	0.97	0.89	0.98	PJAN
PJUL	-0.3	1.0	1.0	1.0	0.98		1.0	1.0	0.86	0.99	PJUL
PAUG	-0.26	1.0	0.99	1.0	0.98	1.0		0.99	0.88	0.99	PAUG
DNOV	-0.33	1.0	0.99	0.99	0.97	1.0	0.99		0.83	0.98	DNOV
PMAY	0.13	0.85	0.85	0.88	0.89	0.86	0.88	0.83		0.92	PMAY
PJUN	-0.19	0.99	0.98	0.99	0.98	0.99	0.99	0.98	0.92		PJUN
	INOV	BUFR	BUFD	PSEP	PJAN	PJUL	PAUG	DNOV	PMAY	PJUN

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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

BUFD	+ 1.0	BUFR
PSEP	+ 1.0	BUFR
PJUL	+ 1.0	BUFR
PAUG	+ 1.0	BUFR
DNOV	+ 1.0	BUFR
PJUL	+ 1.0	BUFD

High negative correlations

DNOV	- 0.33	INOV
BUFD	- 0.32	INOV
BUFR	- 0.32	INOV
PJUL	- 0.3	INOV
PAUG	- 0.26	INOV
PSEP	- 0.26	INOV

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
INOV	0.37	0.09	0.20	0.23	0.36	(0.41)	0.73	(0.72)	2.66
BUFR	0.46	(0.01)	0.00	(0.04)	0.00	0.00	0.98	(0.97)	2.97
BUFD	0.42	(0.01)	0.00	(0.05)	0.00	0.00	0.82	(0.88)	2.44
PSEP	0.39	0.00	0.00	(0.03)	0.00	0.00	0.77	(0.78)	2.34
PJAN	0.38	0.00	0.00	(0.03)	0.00	0.00	0.84	(0.81)	2.47
PJUL	0.42	(0.01)	0.00	(0.04)	0.00	0.00	0.90	(0.92)	2.59
PAUG	0.41	0.00	0.00	(0.03)	0.00	0.00	0.88	(0.85)	2.79
DNOV	0.41	(0.01)	0.00	(0.04)	0.00	0.00	0.89	(0.84)	2.67
PMAY	0.28	0.02	0.08	0.03	0.39	(0.29)	0.67	(0.74)	2.05
PJUN	0.36	0.00	0.03	(0.02)	0.51	(0.35)	0.72	(0.89)	2.32

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