First Trust Correlations

FJAN Etf

USD 45.28 0.09 0.20%

The current 90-days correlation between First Trust Exchange and FT Vest Equity is 0.69 (i.e., Poor 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 Exchange Traded moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Exchange Traded and DJI is 0.7 (i.e., Poor 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 nation.

Moving together with First Etf

0.97	BUFR	First Trust Cboe	Pair Corr
0.89	BUFD	FT Cboe Vest	Pair Corr
0.95	PSEP	Innovator SP 500	Pair Corr
0.95	PJAN	Innovator SP 500	Pair Corr
0.96	PJUL	Innovator SP 500	Pair Corr
0.95	PAUG	Innovator Equity Power	Pair Corr
0.96	DNOV	FT Cboe Vest	Pair Corr
0.81	PMAY	Innovator SP 500	Pair Corr
0.94	PJUN	Innovator SP 500	Pair Corr
0.72	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.91	BAC	Bank of America Aggressive Push	Pair Corr
0.77	WMT	Walmart	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.62	MSFT	Microsoft Aggressive Push	Pair Corr

Moving against First Etf

0.6	PMBS	PIMCO Mortgage Backed	Pair Corr
0.54	AMPD	Tidal Trust II	Pair Corr
0.53	FXY	Invesco CurrencyShares	Pair Corr
0.41	INOV	Innovator ETFs Trust	Pair Corr
0.69	TRV	The Travelers Companies	Pair Corr
0.61	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.5	JNJ	Johnson Johnson	Pair Corr
0.45	KO	Coca Cola Sell-off Trend	Pair Corr
0.35	PG	Procter Gamble	Pair Corr
0.32	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV
DHDG		0.94	-0.05	0.86	0.02	0.96	0.95	-0.91	0.96	DHDG
MBCC	0.94		0.15	0.81	0.22	0.9	0.9	-0.8	0.87	MBCC
DIHP	-0.05	0.15		-0.34	0.95	-0.22	-0.24	0.42	-0.28	DIHP
DJAN	0.86	0.81	-0.34		-0.25	0.96	0.97	-0.95	0.96	DJAN
MDLV	0.02	0.22	0.95	-0.25		-0.14	-0.15	0.34	-0.2	MDLV
DJUL	0.96	0.9	-0.22	0.96	-0.14		1.0	-0.97	0.99	DJUL
DJUN	0.95	0.9	-0.24	0.97	-0.15	1.0		-0.97	0.99	DJUN
SH	-0.91	-0.8	0.42	-0.95	0.34	-0.97	-0.97		-0.99	SH
VV	0.96	0.87	-0.28	0.96	-0.2	0.99	0.99	-0.99		VV
	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DJUN	+ 1.0	DJUL
VV	+ 0.99	DJUL
VV	+ 0.99	DJUN
DJUN	+ 0.97	DJAN
DJUL	+ 0.96	DHDG
VV	+ 0.96	DHDG

High negative correlations

VV	- 0.99	SH
SH	- 0.97	DJUN
SH	- 0.97	DJUL
SH	- 0.95	DJAN
SH	- 0.91	DHDG
SH	- 0.8	MBCC

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
DHDG	0.44	(0.03)	0.00	(0.10)	0.00	0.00	0.87	(0.94)	2.86
MBCC	0.78	(0.02)	0.00	(0.06)	0.00	0.00	1.56	(2.25)	4.26
DIHP	0.59	0.10	0.14	0.17	0.67	(0.61)	1.30	(1.21)	3.71
DJAN	0.30	(0.02)	0.00	(0.08)	0.00	0.00	0.71	(0.77)	2.02
MDLV	0.55	0.07	0.11	0.14	0.80	(0.52)	1.08	(1.52)	3.33
DJUL	0.47	(0.02)	0.00	(0.08)	0.00	0.00	0.85	(1.08)	2.99
DJUN	0.50	(0.02)	0.00	(0.07)	0.00	0.00	0.94	(1.21)	3.23
SH	0.82	0.06	0.14	(0.11)	0.77	(0.94)	1.78	(1.47)	5.01
VV	0.84	(0.05)	0.00	(0.09)	0.00	0.00	1.73	(1.71)	4.56

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC