FT AlphaDEX Correlations

FHG Etf

CAD 53.99 1.15 2.18%

The current 90-days correlation between FT AlphaDEX Industrials and First Trust AlphaDEX is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FT AlphaDEX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FT AlphaDEX Industrials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

FT AlphaDEX Correlation With Market

Significant diversification

The correlation between FT AlphaDEX Industrials and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FT AlphaDEX Industrials and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to FT AlphaDEX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FT AlphaDEX when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back FT AlphaDEX - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling FT AlphaDEX Industrials to buy it.

Moving together with FHG Etf

0.86	ZUH	BMO Equal Weight	Pair Corr
0.64	XIT	iShares SPTSX Capped	Pair Corr
0.74	HMMJ	Global X Marijuana	Pair Corr
0.8	TXF	First Asset Tech	Pair Corr
0.86	TEC	TD Global Technology	Pair Corr
0.89	HBLK	Blockchain Technologies	Pair Corr
0.79	HBGD	Global X Big	Pair Corr
0.74	CHPS	Global X Semiconductor	Pair Corr
0.89	RUBH	RBC Banks Yield	Pair Corr

Moving against FHG Etf

0.76	HUN	Global X Natural	Pair Corr
0.74	ZUT	BMO Equal Weight	Pair Corr
0.68	ZWU	BMO Covered Call	Pair Corr
0.47	FHE	First Trust Indxx	Pair Corr
0.39	CWW	iShares Global Water	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	0.57	-0.52	0.29	0.43	0.3	0.91	-0.73	-0.04	META
MSFT	-0.01		-0.6	-0.02	-0.8	0.72	0.88	0.12	0.42	-0.56	MSFT
UBER	0.57	-0.6		-0.23	0.81	-0.28	-0.52	0.54	-0.84	0.57	UBER
F	-0.52	-0.02	-0.23		0.06	-0.14	-0.2	-0.41	0.44	0.42	F
T	0.29	-0.8	0.81	0.06		-0.6	-0.72	0.19	-0.65	0.61	T
A	0.43	0.72	-0.28	-0.14	-0.6		0.82	0.57	0.13	-0.38	A
CRM	0.3	0.88	-0.52	-0.2	-0.72	0.82		0.35	0.22	-0.62	CRM
JPM	0.91	0.12	0.54	-0.41	0.19	0.57	0.35		-0.63	0.0	JPM
MRK	-0.73	0.42	-0.84	0.44	-0.65	0.13	0.22	-0.63		-0.35	MRK
XOM	-0.04	-0.56	0.57	0.42	0.61	-0.38	-0.62	0.0	-0.35		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	+ 0.91	META
CRM	+ 0.88	MSFT
CRM	+ 0.82	A
T	+ 0.81	UBER
A	+ 0.72	MSFT
XOM	+ 0.61	T

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.73	META
CRM	- 0.72	T
MRK	- 0.65	T
MRK	- 0.63	JPM

FT AlphaDEX Competition Risk-Adjusted Indicators

There is a big difference between FHG Etf performing well and FT AlphaDEX 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 FT AlphaDEX'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	1.63	0.03	0.01	0.02	2.30	(1.45)	2.96	(3.73)	8.90
MSFT	1.11	(0.21)	0.00	(0.24)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.89	0.35	0.15	0.55	2.08	(2.07)	4.72	(3.13)	12.75
F	1.44	0.10	0.05	0.09	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	0.54	1.45	(1.12)	1.90	(1.55)	11.66
A	1.16	(0.19)	0.00	(0.18)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.24)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.06	0.03	0.24	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.24	(0.18)	0.00	1.61	0.00	0.00	2.07	(2.25)	11.58
XOM	1.03	0.13	0.09	0.29	1.29	(1.05)	2.55	(2.36)	5.89

Be your own money manager

Our tools can tell you how much better you can do entering a position in FT AlphaDEX without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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