First Trust Correlations

FICS Etf

USD 37.29 0.23 0.62%

The current 90-days correlation between First Trust International and Strategy Shares is 0.18 (i.e., Average 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

Very weak diversification

The correlation between First Trust International and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust International 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 International. 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

0.92	EFG	iShares MSCI EAFE	Pair Corr
0.93	VIGI	Vanguard International	Pair Corr
0.65	IHDG	WisdomTree International	Pair Corr
0.7	CGXU	Capital Group Intern	Pair Corr
0.66	DNL	WisdomTree Global	Pair Corr
0.93	IQDG	WisdomTree International	Pair Corr
0.92	PIZ	Invesco DWA Developed	Pair Corr
0.97	IDHQ	Invesco SP International	Pair Corr
0.76	BKCI	BNY Mellon ETF	Pair Corr
0.88	GDXU	MicroSectors Gold Miners	Pair Corr
0.91	VZ	Verizon Communications	Pair Corr
0.7	CSCO	Cisco Systems	Pair Corr
0.65	INTC	Intel Sell-off Trend	Pair Corr
0.84	IBM	International Business	Pair Corr
0.78	MMM	3M Company	Pair Corr
0.77	TRV	The Travelers Companies	Pair Corr
0.95	T	ATT Inc Sell-off Trend	Pair Corr
0.91	KO	Coca Cola	Pair Corr

Moving against First Etf

0.67	WTMF	WisdomTree Managed	Pair Corr
0.64	MRK	Merck Company	Pair Corr
0.51	OIH	VanEck Oil Services	Pair Corr
0.39	ARKW	ARK Next Generation	Pair Corr
0.31	BST	BlackRock Science Tech	Pair Corr
0.75	MSFT	Microsoft Aggressive Push	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.6	CAT	Caterpillar	Pair Corr
0.53	HPQ	HP Inc	Pair Corr
0.5	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.13	-0.09	-0.04	0.1	-0.01	-0.11	-0.06	-0.09	DHSB
MBOX	-0.13		0.36	0.16	-0.29	0.4	0.92	0.37	0.84	MBOX
DIEM	-0.09	0.36		0.86	0.13	-0.38	0.52	0.77	0.64	DIEM
MCHI	-0.04	0.16	0.86		0.47	-0.54	0.46	0.92	0.6	MCHI
DIPS	0.1	-0.29	0.13	0.47		-0.54	-0.04	0.52	0.09	DIPS
DISO	-0.01	0.4	-0.38	-0.54	-0.54		0.26	-0.51	0.06	DISO
DIVB	-0.11	0.92	0.52	0.46	-0.04	0.26		0.63	0.95	DIVB
DIVD	-0.06	0.37	0.77	0.92	0.52	-0.51	0.63		0.75	DIVD
DIVG	-0.09	0.84	0.64	0.6	0.09	0.06	0.95	0.75		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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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

DIVG	+ 0.95	DIVB
DIVB	+ 0.92	MBOX
DIVD	+ 0.92	MCHI
MCHI	+ 0.86	DIEM
DIVG	+ 0.84	MBOX
DIVD	+ 0.77	DIEM

High negative correlations

DISO	- 0.54	DIPS
DISO	- 0.54	MCHI
DIVD	- 0.51	DISO
DISO	- 0.38	DIEM
DIPS	- 0.29	MBOX
MBOX	- 0.13	DHSB

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
DHSB	0.38	(0.05)	0.00	(0.25)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.70	0.00	0.00	(0.03)	0.00	0.00	1.27	(1.40)	3.06
DIEM	0.69	0.04	0.07	0.06	0.86	(0.75)	1.43	(1.89)	4.39
MCHI	1.36	0.28	0.20	0.87	1.39	(1.60)	2.63	(2.72)	7.91
DIPS	2.25	0.06	0.05	(0.09)	2.72	(2.43)	5.35	(4.43)	23.78
DISO	0.90	(0.11)	0.00	(0.21)	0.00	0.00	1.47	(2.12)	6.61
DIVB	0.66	0.04	0.05	0.02	0.87	(0.66)	1.16	(1.40)	3.13
DIVD	0.59	0.14	0.22	0.26	0.62	(0.67)	1.39	(0.95)	3.39
DIVG	0.60	0.03	0.06	0.03	0.75	(0.62)	1.23	(1.18)	3.05

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