First Trust Correlations

FDEC Etf

USD 44.82 0.09 0.20%

The current 90-days correlation between First Trust Exchange and First Trust Cboe is 0.07 (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.

First Trust Correlation With Market

Average diversification

The correlation between First Trust Exchange Traded and DJI is 0.1 (i.e., Average 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 income.

Moving together with First Etf

0.94	BUFR	First Trust Cboe	Pair Corr
0.94	BUFD	FT Cboe Vest	Pair Corr
0.92	PSEP	Innovator SP 500	Pair Corr
1.0	PJAN	Innovator SP 500	Pair Corr
0.93	PJUL	Innovator SP 500	Pair Corr
0.93	PAUG	Innovator Equity Power	Pair Corr
0.9	DNOV	FT Cboe Vest	Pair Corr
0.96	PMAY	Innovator SP 500	Pair Corr
0.95	PJUN	Innovator SP 500	Pair Corr
0.95	BITX	Volatility Shares Trust	Pair Corr
0.88	VCAR	Simplify Volt RoboCar	Pair Corr
0.95	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.9	FNGU	MicroSectors FANG Index	Pair Corr
0.93	CPAI	Northern Lights	Pair Corr
0.96	BTC	Grayscale Bitcoin Mini	Pair Corr
0.8	IDAT	Ishares Trust	Pair Corr
0.94	SCHB	Schwab Broad Market	Pair Corr
0.95	JBBB	Janus Detroit Street	Pair Corr
0.88	BULZ	MicroSectors Solactive	Pair Corr
0.93	TRFK	Pacer Funds Trust	Pair Corr
0.88	CGUS	Capital Group Core	Pair Corr
0.96	DAT	ProShares Big Data	Pair Corr
0.88	SABA	Saba Capital Income Symbol Change	Pair Corr
0.99	JANW	AIM ETF Products	Pair Corr
0.83	BST	BlackRock Science Tech	Pair Corr
0.91	RPG	Invesco SP 500	Pair Corr
0.81	SHYL	Xtrackers Short Duration	Pair Corr
0.95	IBLC	iShares Blockchain and	Pair Corr
0.93	QJUN	First Trust Exchange	Pair Corr
0.91	ETHE	Grayscale Ethereum Trust	Pair Corr
0.95	IPAY	Amplify ETF Trust	Pair Corr
0.97	BSCO	Invesco BulletShares 2024	Pair Corr
0.91	SPY	SPDR SP 500	Pair Corr
0.96	PUTW	WisdomTree CBOE SP	Pair Corr

Moving against First Etf

0.63	INOV	Innovator ETFs Trust Potential Growth	Pair Corr
0.38	MCHI	iShares MSCI China	Pair Corr

Related Correlations Analysis

	BUFR	PAUG	DNOV
BUFR		1.0	0.94	BUFR
PAUG	1.0		0.92	PAUG
DNOV	0.94	0.92		DNOV
	BUFR	PAUG	DNOV

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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
BUFR	0.22	0.02	0.02	0.08	0.27	(0.24)	0.40	(0.47)	2.40
PAUG	0.24	0.01	0.00	0.06	0.31	(0.23)	0.48	(0.52)	2.32
DNOV	0.13	0.02	0.00	0.13	0.20	(0.14)	0.28	(0.19)	1.71

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