First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange Traded
FCFY Etf   25.57  0.13  0.51%   
The current 90-days correlation between First Trust Exchange and Vanguard Total Stock is 0.83 (i.e., Very poor 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

Very poor diversification

The correlation between First Trust Exchange Traded and DJI is 0.89 (i.e., Very poor 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 census.

Moving together with First Etf

  0.96VOE Vanguard Mid CapPairCorr
  0.82SDY SPDR SP DividendPairCorr
  0.97IWS iShares Russell MidPairCorr
  0.98COWZ Pacer Cash CowsPairCorr
  0.94IJJ iShares SP MidPairCorr
  0.95DON WisdomTree MidCapPairCorr
  0.94MDYV SPDR SP 400PairCorr
  0.92PEY Invesco High YieldPairCorr
  0.98ONEY SPDR Russell 1000PairCorr
  0.94IVOV Vanguard SP MidPairCorr
  0.67NVDL GraniteShares 15x LongPairCorr
  0.67NVDX T Rex 2XPairCorr
  0.67NVDU Direxion Daily NVDAPairCorr
  0.82CRPT First Trust SkyBridgePairCorr
  0.77BITX Volatility Shares TrustPairCorr
  0.75CONL GraniteShares ETF TrustPairCorr
  0.8DAPP VanEck Digital TransPairCorr
  0.82DPST Direxion Daily RegionalPairCorr
  0.8WGMI Valkyrie Bitcoin MinersPairCorr
  0.83ETH Grayscale Ethereum MiniPairCorr
  0.85EOS Eaton Vance EnhancedPairCorr
  0.67TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.84INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.67XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.8BAC Bank of America Aggressive PushPairCorr
  0.84CVX Chevron Corp Sell-off TrendPairCorr
  0.77HPQ HP IncPairCorr
  0.85AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.64T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.94AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.79WMT Walmart Aggressive PushPairCorr
  0.84CSCO Cisco Systems Sell-off TrendPairCorr
  0.76JPM JPMorgan Chase Sell-off TrendPairCorr
  0.84CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr

Moving against First Etf

  0.62MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.59PFE Pfizer Inc Aggressive PushPairCorr
  0.55BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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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.

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