First Trust Correlations

FJP Etf

USD 56.80 0.70 1.22%

The current 90-days correlation between First Trust Japan and First Trust United is 0.68 (i.e., 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

Good diversification

The correlation between First Trust Japan and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Japan 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 Japan. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with First Etf

0.91	EWJ	iShares MSCI Japan	Pair Corr
0.88	BBJP	JPMorgan BetaBuilders Sell-off Trend	Pair Corr
0.93	FLJP	Franklin FTSE Japan Sell-off Trend	Pair Corr
0.97	DFJ	WisdomTree Japan SmallCap	Pair Corr
0.95	EWJV	iShares MSCI Japan	Pair Corr
0.98	SCJ	iShares MSCI Japan	Pair Corr
0.94	JPXN	iShares JPX Nikkei	Pair Corr
0.88	FXY	Invesco CurrencyShares	Pair Corr
0.73	AMPD	Tidal Trust II	Pair Corr
0.61	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.72	IBM	International Business	Pair Corr
0.9	VZ	Verizon Communications	Pair Corr
0.88	JNJ	Johnson Johnson	Pair Corr
0.62	INTC	Intel	Pair Corr
0.86	KO	Coca Cola	Pair Corr
0.79	TRV	The Travelers Companies	Pair Corr

Moving against First Etf

0.83	GRI	GRI Bio Earnings Call This Week	Pair Corr
0.81	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.8	MSFT	Microsoft	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.68	AXP	American Express Sell-off Trend	Pair Corr
0.61	DIS	Walt Disney	Pair Corr
0.58	BAC	Bank of America Sell-off Trend	Pair Corr
0.47	MRK	Merck Company	Pair Corr
0.38	BA	Boeing	Pair Corr

Related Correlations Analysis

	FKU	FPA	FGM	FSZ	FLN
FKU		0.81	0.83	0.88	0.89	FKU
FPA	0.81		0.77	0.87	0.91	FPA
FGM	0.83	0.77		0.93	0.84	FGM
FSZ	0.88	0.87	0.93		0.88	FSZ
FLN	0.89	0.91	0.84	0.88		FLN
	FKU	FPA	FGM	FSZ	FLN

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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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FKU	0.74	0.02	0.10	(0.17)	1.05	(0.71)	1.57	(1.94)	4.93
FPA	0.91	0.04	0.08	(0.57)	1.36	(0.83)	1.66	(2.15)	4.97
FGM	1.06	0.35	0.34	(5.76)	0.98	(1.27)	2.41	(2.25)	8.75
FSZ	0.72	0.13	0.20	0.24	0.79	(0.77)	1.46	(1.46)	4.29
FLN	1.00	0.13	0.12	0.49	1.34	(0.94)	2.33	(1.94)	5.12

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