First Trust Correlations

FBZ Etf

USD 10.42 0.10 0.95%

The current 90-days correlation between First Trust Brazil and First Trust Latin is 0.03 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Modest diversification

The correlation between First Trust Brazil and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Brazil 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 Brazil. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Etf

0.97	EWZ	iShares MSCI Brazil	Pair Corr
0.81	ILF	iShares Latin America	Pair Corr
0.78	FLBR	Franklin FTSE Brazil	Pair Corr
0.8	EWZS	iShares MSCI Brazil	Pair Corr
0.81	FLLA	Franklin FTSE Latin	Pair Corr
0.79	BRF	VanEck Brazil Small	Pair Corr
0.76	GDXU	MicroSectors Gold Miners	Pair Corr
0.77	GE	GE Aerospace	Pair Corr
0.73	MMM	3M Company	Pair Corr
0.64	VZ	Verizon Communications	Pair Corr
0.75	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.66	CVX	Chevron Corp	Pair Corr

Moving against First Etf

0.54	PRME	Prime Medicine, Common	Pair Corr
0.37	CAT	Caterpillar	Pair Corr
0.59	MRK	Merck Company	Pair Corr
0.51	MSFT	Microsoft	Pair Corr
0.43	DIS	Walt Disney	Pair Corr
0.36	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	FLN	FGM	FJP	FPA	FSZ
FLN		0.87	0.88	0.88	0.92	FLN
FGM	0.87		0.94	0.74	0.94	FGM
FJP	0.88	0.94		0.69	0.9	FJP
FPA	0.88	0.74	0.69		0.85	FPA
FSZ	0.92	0.94	0.9	0.85		FSZ
	FLN	FGM	FJP	FPA	FSZ

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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
FLN	0.92	0.22	0.24	13.78	0.93	(0.97)	2.33	(1.47)	5.12
FGM	1.12	0.37	0.32	18.91	1.02	(1.34)	2.41	(2.25)	9.78
FJP	0.79	0.19	0.26	(29.88)	0.75	(0.94)	1.82	(1.22)	5.32
FPA	0.88	0.05	0.09	(1.59)	1.19	(0.83)	1.66	(1.97)	5.33
FSZ	0.70	0.15	0.24	0.81	0.68	(0.79)	1.46	(1.31)	4.29

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