First Trust Correlations

FAD Etf

USD 131.09 0.28 0.21%

The current 90-days correlation between First Trust Multi and First Trust Multi is -0.11 (i.e., Good 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 Multi 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 Multi 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 Multi. 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

0.98	VOT	Vanguard Mid Cap	Pair Corr
0.99	IWP	iShares Russell Mid	Pair Corr
0.97	ARKK	ARK Innovation ETF	Pair Corr
0.96	IJK	iShares SP Mid	Pair Corr
0.99	JKH	iShares Morningstar Mid	Pair Corr
0.99	KOMP	SPDR Kensho New	Pair Corr
0.96	MDYG	SPDR SP 400	Pair Corr
0.99	IMCG	iShares Morningstar Mid	Pair Corr
0.94	FPX	First Trust Equity	Pair Corr
0.96	IVOG	Vanguard SP Mid	Pair Corr
0.97	MPAY	Akros Monthly Payout	Pair Corr
0.9	CPST	Calamos ETF Trust	Pair Corr
0.74	BA	Boeing	Pair Corr
0.72	WMT	Walmart Aggressive Push	Pair Corr
0.85	JPM	JPMorgan Chase	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.77	HD	Home Depot	Pair Corr
0.86	BAC	Bank of America Sell-off Trend	Pair Corr
0.61	DIS	Walt Disney	Pair Corr

Moving against First Etf

0.85	BITI	ProShares Trust	Pair Corr
0.53	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.49	PULS	PGIM Ultra Short	Pair Corr
0.54	TRV	The Travelers Companies	Pair Corr
0.54	VZ	Verizon Communications	Pair Corr
0.31	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	FAB	FYX	FTC	FTA	FEX
FAB		0.89	0.81	0.79	0.85	FAB
FYX	0.89		0.87	0.69	0.85	FYX
FTC	0.81	0.87		0.77	0.97	FTC
FTA	0.79	0.69	0.77		0.89	FTA
FEX	0.85	0.85	0.97	0.89		FEX
	FAB	FYX	FTC	FTA	FEX

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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
FAB	0.73	(0.07)	0.00	1.31	0.00	0.00	1.18	(1.50)	3.69
FYX	0.87	(0.11)	0.00	(0.18)	0.00	0.00	1.57	(2.10)	4.77
FTC	1.05	(0.03)	0.00	(0.10)	0.00	0.00	1.76	(2.50)	5.54
FTA	0.67	0.04	0.07	(0.01)	0.85	(0.65)	1.26	(1.28)	3.38
FEX	0.72	0.01	0.00	(0.06)	0.00	0.00	1.26	(1.66)	3.56

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