First Trust Correlations

DMAR Etf

USD 38.02 0.10 0.26%

The current 90-days correlation between First Trust Exchange and FT Cboe Vest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Exchange Traded and DJI is 0.77 (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 nation.

Moving together with First Etf

0.97	BUFR	First Trust Cboe	Pair Corr
0.98	BUFD	FT Cboe Vest	Pair Corr
0.98	PSEP	Innovator SP 500	Pair Corr
0.97	PJAN	Innovator SP 500	Pair Corr
0.98	PJUL	Innovator SP 500	Pair Corr
0.98	PAUG	Innovator Equity Power	Pair Corr
0.96	DNOV	FT Cboe Vest	Pair Corr
0.93	PMAY	Innovator SP 500	Pair Corr
0.99	PJUN	Innovator SP 500	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.83	WMT	Walmart	Pair Corr
0.8	HD	Home Depot	Pair Corr

Moving against First Etf

0.39	MRK	Merck Company	Pair Corr
0.32	PMBS	PIMCO Mortgage Backed	Pair Corr
0.32	AMPD	Tidal Trust II	Pair Corr
0.44	TRV	The Travelers Companies	Pair Corr
0.35	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	DFEB	DAPR	DJAN	DNOV	DMAY
DFEB		0.9	0.93	0.96	0.97	DFEB
DAPR	0.9		0.73	0.81	0.84	DAPR
DJAN	0.93	0.73		0.96	0.97	DJAN
DNOV	0.96	0.81	0.96		1.0	DNOV
DMAY	0.97	0.84	0.97	1.0		DMAY
	DFEB	DAPR	DJAN	DNOV	DMAY

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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
DFEB	0.29	(0.01)	(0.01)	(0.03)	0.49	(0.25)	0.63	(0.76)	2.24
DAPR	0.29	0.01	0.03	0.03	0.44	(0.27)	0.59	(0.70)	2.26
DJAN	0.30	(0.03)	0.00	(0.07)	0.00	0.00	0.71	(0.77)	2.02
DNOV	0.42	(0.02)	0.00	(0.05)	0.00	0.00	0.89	(0.84)	2.67
DMAY	0.50	(0.02)	0.00	(0.04)	0.00	0.00	0.96	(1.04)	3.25

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