FT Cboe Correlations

FAUG Etf  USD 45.48  0.38  0.83%   
The current 90-days correlation between FT Cboe Vest and FT Vest Equity is 0.83 (i.e., Very poor diversification). The correlation of FT Cboe 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.

FT Cboe Correlation With Market

Poor diversification

The correlation between FT Cboe Vest and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FT Cboe Vest 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 FT Cboe Vest. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with FAUG Etf

  1.0BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  1.0PSEP Innovator SP 500PairCorr
  0.98PJAN Innovator SP 500PairCorr
  0.92PJUL Innovator SP 500PairCorr
  1.0PAUG Innovator Equity PowerPairCorr
  1.0DNOV FT Cboe VestPairCorr
  0.93PMAY Innovator SP 500PairCorr
  0.99PJUN Innovator SP 500PairCorr
  0.97UPRO ProShares UltraPro SP500PairCorr
  0.97QTJA Innovator ETFs TrustPairCorr
  0.88QTOC Innovator ETFs TrustPairCorr
  1.0XTOC Innovator ETFs TrustPairCorr
  0.92QTAP Innovator Growth 100PairCorr
  0.99XTJA Innovator ETFs TrustPairCorr
  0.82XTAP Innovator Equity AccPairCorr

Moving against FAUG Etf

  0.54LBAY Tidal ETF TrustPairCorr
  0.42SCHO Schwab Short TermPairCorr
  0.39EFNL iShares MSCI FinlandPairCorr
  0.31SPAQ Horizon Kinetics SPACPairCorr
  0.54JUNE Junee Limited Ordinary TrendingPairCorr
  0.4UNL United States 12PairCorr
  0.33MNA IQ Merger ArbitragePairCorr

Related Correlations Analysis

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   
JPMMETA
CRMMSFT
TUBER
CRMA
UBERMETA
AMSFT
  
High negative correlations   
MRKUBER
TMSFT
MRKMETA
MRKT
CRMT
MRKJPM

FT Cboe Competition Risk-Adjusted Indicators

There is a big difference between FAUG Etf performing well and FT Cboe 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 FT Cboe'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.61  0.01  0.00 (0.08) 0.00 
 2.57 
 8.90 
MSFT  1.11 (0.15) 0.00 (0.32) 0.00 
 2.58 
 10.31 
UBER  1.94  0.22  0.10  0.31  2.41 
 4.72 
 12.75 
F  1.44  0.07  0.00 (0.03) 0.00 
 2.71 
 10.14 
T  1.05  0.26  0.17  0.38  1.59 
 1.90 
 11.66 
A  1.13 (0.12) 0.00 (0.22) 0.00 
 2.92 
 9.03 
CRM  1.42 (0.23) 0.00 (0.30) 0.00 
 2.72 
 8.88 
JPM  1.09  0.06  0.00 (0.04) 0.00 
 1.99 
 6.85 
MRK  1.17 (0.07) 0.00  1.31  0.00 
 2.07 
 11.58 
XOM  1.05  0.07  0.09  0.06  1.38 
 2.55 
 5.89