First Trust Correlations

FEX Etf

USD 103.02 0.29 0.28%

The current 90-days correlation between First Trust Large and First Trust Large is 0.85 (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

Poor diversification

The correlation between First Trust Large and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Large 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 Large. 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

0.95	VTI	Vanguard Total Stock	Pair Corr
0.95	SPY	SPDR SP 500	Pair Corr
0.95	IVV	iShares Core SP	Pair Corr
0.87	VIG	Vanguard Dividend	Pair Corr
0.95	VV	Vanguard Large Cap	Pair Corr
0.96	RSP	Invesco SP 500	Pair Corr
0.96	IWB	iShares Russell 1000	Pair Corr
0.94	ESGU	iShares ESG Aware	Pair Corr
0.97	DFAC	Dimensional Core Equity	Pair Corr
0.95	SPLG	SPDR Portfolio SP	Pair Corr
0.74	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.83	FNGO	MicroSectors FANG Index	Pair Corr
0.63	NAIL	Direxion Daily Homeb	Pair Corr
0.83	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.63	FCG	First Trust Natural	Pair Corr
0.7	GUSH	Direxion Daily SP	Pair Corr
0.95	DUSL	Direxion Daily Indus	Pair Corr
0.71	BA	Boeing	Pair Corr
0.91	AXP	American Express	Pair Corr
0.69	DIS	Walt Disney	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.81	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.9	BAC	Bank of America Aggressive Push	Pair Corr
0.76	WMT	Walmart	Pair Corr

Moving against First Etf

0.32

Coca Cola

Pair Corr

Related Correlations Analysis

	FTA	FYX	FNX	FTC	FAD
FTA		0.63	0.79	0.75	0.73	FTA
FYX	0.63		0.94	0.83	0.91	FYX
FNX	0.79	0.94		0.94	0.98	FNX
FTC	0.75	0.83	0.94		0.98	FTC
FAD	0.73	0.91	0.98	0.98		FAD
	FTA	FYX	FNX	FTC	FAD

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FTA	0.70	0.00	(0.08)	1.26	(1.40)	3.38
FYX	0.88	(0.15)	(0.24)	1.57	(2.37)	4.77
FNX	0.89	(0.09)	(0.17)	1.43	(2.17)	4.54
FTC	1.08	(0.04)	(0.12)	1.84	(2.50)	6.00
FAD	1.07	(0.08)	(0.15)	1.66	(3.22)	5.20

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