First Trust Correlations

FCT Etf  USD 10.36  0.01  0.1%   
The current 90-days correlation between First Trust Senior and Blackstone Gso Long is -0.16 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Senior and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Senior 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 Senior. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

  0.86LUX Tema ETF TrustPairCorr
  0.71HEEM iShares Currency HedgedPairCorr
  0.78BBEU JPMorgan BetaBuildersPairCorr
  0.82IBDS iShares iBonds DecPairCorr
  0.7IEUS iShares MSCI EuropePairCorr
  0.64MAPP Harbor ETF TrustPairCorr
  0.87XDAP Innovator Equity AccPairCorr
  0.63ISVL iShares InternationalPairCorr
  0.87IBMN iShares iBonds DecPairCorr
  0.62FALN iShares Fallen AngelsPairCorr
  0.66JOJO Tidal ETF TrustPairCorr
  0.66XTRE Bondbloxx ETF TrustPairCorr
  0.76IOCT Innovator ETFs TrustPairCorr
  0.81CADUX Cion Ares DiversifiedPairCorr
  0.67PTIN Pacer Trendpilot IntPairCorr
  0.69JEPQ JPMorgan Nasdaq EquityPairCorr
  0.83MUSQ Exchange Traded ConceptsPairCorr
  0.72ESGD iShares ESG AwarePairCorr
  0.75ZTRE Fm 3 YearPairCorr
  0.81XTWO Bondbloxx ETF TrustPairCorr
  0.68CCRV iShares Commodity CurvePairCorr
  0.77GLTR abrdn Physical PreciousPairCorr
  0.91LQDH iShares Interest RatePairCorr
  0.83IBHG iShares iBonds 2027PairCorr
  0.76BBBS BondBloxx ETF TrustPairCorr

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

First Trust Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.36  0.28  0.17  0.57  1.44 
 3.22 
 7.11 
MSFT  1.03 (0.05) 0.00 (0.16) 0.00 
 2.20 
 10.31 
UBER  1.95  0.16  0.06  3.78  2.78 
 4.72 
 12.29 
F  1.35 (0.11) 0.00 (0.13) 0.00 
 2.55 
 10.97 
T  0.94  0.30  0.27  0.50  0.88 
 1.90 
 7.94 
A  1.07 (0.03) 0.00 (0.07) 0.00 
 2.81 
 9.03 
CRM  1.45 (0.15) 0.00 (0.22) 0.00 
 2.21 
 15.92 
JPM  0.89  0.14  0.11  0.15  1.16 
 1.97 
 6.85 
MRK  1.26 (0.10) 0.00 (2.54) 0.00 
 2.15 
 11.57 
XOM  0.91 (0.12) 0.00 (0.43) 0.00 
 1.76 
 5.69