First Trust Correlations

DOGG Etf

20.52 0.19 0.92%

The current 90-days correlation between First Trust Exchange and FT Vest Equity is 0.05 (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.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Exchange Traded and DJI is -0.05 (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 price.

Moving together with First Etf

0.73	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.77	KNG	FT Cboe Vest	Pair Corr
0.91	SIXH	ETC 6 Meridian	Pair Corr
0.85	IDME	International Drawdown	Pair Corr
0.8	GDXU	MicroSectors Gold Miners	Pair Corr
0.63	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.75	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.92	JNJ	Johnson Johnson	Pair Corr
0.8	GE	GE Aerospace	Pair Corr
0.78	IBM	International Business	Pair Corr
0.86	KO	Coca Cola Aggressive Push	Pair Corr
0.89	T	ATT Inc Aggressive Push	Pair Corr
0.85	VZ	Verizon Communications	Pair Corr
0.84	MMM	3M Company	Pair Corr
0.7	MCD	McDonalds	Pair Corr

Moving against First Etf

0.73	USD	ProShares Ultra Semi	Pair Corr
0.68	TECL	Direxion Daily Technology	Pair Corr
0.58	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.58	NAIL	Direxion Daily Homeb	Pair Corr
0.57	FNGO	MicroSectors FANG Index	Pair Corr
0.46	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.44	SPXL	Direxion Daily SP500	Pair Corr
0.43	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.4	UPRO	ProShares UltraPro SP500	Pair Corr
0.35	RYLD	Global X Russell	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.52	HPQ	HP Inc	Pair Corr
0.43	AXP	American Express	Pair Corr
0.37	BAC	Bank of America Aggressive Push	Pair Corr
0.33	HD	Home Depot	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV
DHDG		0.94	-0.07	0.88	0.01	0.96	0.96	-0.91	0.96	DHDG
MBCC	0.94		0.12	0.82	0.21	0.9	0.9	-0.81	0.88	MBCC
DIHP	-0.07	0.12		-0.36	0.95	-0.24	-0.25	0.43	-0.29	DIHP
DJAN	0.88	0.82	-0.36		-0.28	0.97	0.97	-0.97	0.97	DJAN
MDLV	0.01	0.21	0.95	-0.28		-0.15	-0.16	0.34	-0.21	MDLV
DJUL	0.96	0.9	-0.24	0.97	-0.15		1.0	-0.97	0.99	DJUL
DJUN	0.96	0.9	-0.25	0.97	-0.16	1.0		-0.98	0.99	DJUN
SH	-0.91	-0.81	0.43	-0.97	0.34	-0.97	-0.98		-0.99	SH
VV	0.96	0.88	-0.29	0.97	-0.21	0.99	0.99	-0.99		VV
	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DJUN	+ 1.0	DJUL
VV	+ 0.99	DJUL
VV	+ 0.99	DJUN
DJUL	+ 0.97	DJAN
DJUN	+ 0.97	DJAN
VV	+ 0.97	DJAN

High negative correlations

VV	- 0.99	SH
SH	- 0.98	DJUN
SH	- 0.97	DJUL
SH	- 0.97	DJAN
SH	- 0.91	DHDG
SH	- 0.81	MBCC

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
DHDG	0.41	(0.02)	0.00	(0.05)	0.00	0.00	0.87	(0.90)	2.86
MBCC	0.75	(0.01)	0.00	(0.02)	0.00	0.00	1.56	(1.68)	4.26
DIHP	0.56	0.12	0.16	0.21	0.52	(0.60)	1.27	(1.06)	3.72
DJAN	0.30	(0.03)	0.00	(0.07)	0.00	0.00	0.71	(0.77)	2.02
MDLV	0.53	0.09	0.12	0.19	0.67	(0.54)	1.08	(1.13)	3.33
DJUL	0.46	(0.03)	0.00	(0.04)	0.00	0.00	0.85	(1.00)	2.99
DJUN	0.49	(0.03)	0.00	(0.04)	0.00	0.00	0.94	(1.14)	3.23
SH	0.77	0.04	0.05	(0.04)	0.82	(0.87)	1.73	(1.47)	4.66
VV	0.81	(0.04)	0.00	(0.04)	0.00	0.00	1.73	(1.67)	4.56

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC