FT Cboe Correlations

FAUG Etf  USD 46.25  0.88  1.87%   
The current 90-days correlation between FT Cboe Vest and FT Vest Equity is -0.03 (i.e., Good 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

Very good diversification

The correlation between FT Cboe Vest and DJI is -0.22 (i.e., Very good 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

  0.77INOV Innovator ETFs TrustPairCorr
  0.84BUFR First Trust CboePairCorr
  0.83BUFD FT Cboe VestPairCorr
  0.84PSEP Innovator SP 500PairCorr
  0.72PJAN Innovator SP 500PairCorr
  0.84PJUL Innovator SP 500PairCorr
  0.84PAUG Innovator Equity PowerPairCorr
  0.82DNOV FT Cboe VestPairCorr
  0.78PMAY Innovator SP 500PairCorr
  0.84PJUN Innovator SP 500PairCorr
  0.67VTI Vanguard Total StockPairCorr
  0.74SPY SPDR SP 500PairCorr
  0.74IVV iShares Core SPPairCorr
  0.78VEA Vanguard FTSE DevelopedPairCorr
  0.8RXI iShares Global ConsumerPairCorr
  0.8JPM JPMorgan ChasePairCorr
  0.75GE GE AerospacePairCorr
  0.72MMM 3M CompanyPairCorr
  0.7CSCO Cisco SystemsPairCorr
  0.74WMT WalmartPairCorr

Moving against FAUG Etf

  0.64MRK Merck Company Aggressive PushPairCorr

Related Correlations Analysis

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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   
JPMMETA
CRMMSFT
JPMUBER
TMETA
TUBER
XOMF
  
High negative correlations   
MRKMETA
MRKT
MRKJPM
MRKUBER
FMETA
UBERMSFT

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  1.36  0.25  0.20 (0.95) 1.44 
 3.22 
 7.11 
MSFT  1.04 (0.08) 0.00 (0.27) 0.00 
 2.20 
 10.31 
UBER  1.94  0.09  0.05  1.57  2.87 
 4.72 
 12.28 
F  1.32 (0.16) 0.00 (0.23) 0.00 
 2.46 
 10.14 
T  0.94  0.32  0.31  0.57  0.88 
 1.90 
 7.94 
A  1.07 (0.05) 0.00  0.30  0.00 
 2.81 
 9.03 
CRM  1.43 (0.18) 0.00 (0.30) 0.00 
 2.21 
 15.92 
JPM  0.89  0.13  0.14  0.88  1.16 
 1.97 
 6.85 
MRK  1.26 (0.13) 0.00  0.20  0.00 
 2.15 
 11.57 
XOM  0.96 (0.14) 0.00 (0.29) 0.00 
 1.76 
 5.69