First Trust Correlations

FKU Etf

USD 40.28 0.01 0.02%

The current 90-days correlation between First Trust United and First Trust Germany is 0.71 (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

Weak diversification

The correlation between First Trust United and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust United 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 United. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with First Etf

0.93	EWU	iShares MSCI United	Pair Corr
0.73	EWY	iShares MSCI South	Pair Corr
0.7	EWA	iShares MSCI Australia	Pair Corr
0.81	EWL	iShares MSCI Switzerland	Pair Corr
0.86	EWG	iShares MSCI Germany	Pair Corr
0.62	KSA	iShares MSCI Saudi	Pair Corr
0.86	EWQ	iShares MSCI France	Pair Corr
0.83	EWW	iShares MSCI Mexico	Pair Corr
0.61	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.75	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against First Etf

0.61	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.46	FNGS	MicroSectors FANG ETN	Pair Corr
0.45	FNGU	MicroSectors FANG Index	Pair Corr
0.45	FNGO	MicroSectors FANG Index	Pair Corr
0.34	QLD	ProShares Ultra QQQ	Pair Corr
0.66	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.6	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.53	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.53	DIS	Walt Disney	Pair Corr
0.5	CSCO	Cisco Systems	Pair Corr
0.44	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.4	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Related Correlations Analysis

	FGM	FSZ	FJP	FPA	FLN
FGM		0.56	0.5	0.65	0.22	FGM
FSZ	0.56		0.37	0.63	0.83	FSZ
FJP	0.5	0.37		0.43	0.27	FJP
FPA	0.65	0.63	0.43		0.49	FPA
FLN	0.22	0.83	0.27	0.49		FLN
	FGM	FSZ	FJP	FPA	FLN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
FGM	0.82	0.06	(0.03)	0.51	0.90	(0.89)	1.77	(1.47)	4.90
FSZ	0.70	(0.11)	0.00	(0.22)	0.00	0.00	1.34	(1.34)	3.70
FJP	1.04	(0.04)	(0.08)	0.02	1.29	(1.06)	2.09	(2.27)	5.46
FPA	0.93	(0.02)	(0.08)	0.06	1.12	(0.94)	1.54	(2.04)	5.91
FLN	0.86	(0.12)	0.00	(0.28)	0.00	0.00	2.09	(1.81)	4.88

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