First Trust Correlations

FGM Etf

USD 47.91 0.47 0.97%

The current 90-days correlation between First Trust Germany and First Trust Switzerland is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Germany moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust Germany and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Germany 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 Germany. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with First Etf

0.75	EWU	iShares MSCI United	Pair Corr
0.65	EWY	iShares MSCI South	Pair Corr
0.72	EWL	iShares MSCI Switzerland	Pair Corr
0.77	EWG	iShares MSCI Germany	Pair Corr
0.7	EWQ	iShares MSCI France	Pair Corr
0.8	EWW	iShares MSCI Mexico	Pair Corr
0.89	BND	Vanguard Total Bond	Pair Corr
0.93	VEA	Vanguard FTSE Developed	Pair Corr
0.86	GDXU	MicroSectors Gold Miners	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.66	MCD	McDonalds	Pair Corr
0.61	PG	Procter Gamble	Pair Corr
0.71	KO	Coca Cola	Pair Corr

Moving against First Etf

0.74	VB	Vanguard Small Cap	Pair Corr
0.64	VTI	Vanguard Total Stock	Pair Corr
0.62	VUG	Vanguard Growth Index	Pair Corr
0.61	SPY	SPDR SP 500	Pair Corr
0.61	IVV	iShares Core SP	Pair Corr
0.48	VO	Vanguard Mid Cap	Pair Corr
0.38	KSA	iShares MSCI Saudi	Pair Corr
0.37	EWA	iShares MSCI Australia	Pair Corr
0.67	AXP	American Express	Pair Corr
0.62	BAC	Bank of America	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.57	DIS	Walt Disney	Pair Corr
0.55	AA	Alcoa Corp	Pair Corr
0.51	HD	Home Depot	Pair Corr
0.51	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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