First Trust Correlations

FLN Etf

USD 17.80 0.17 0.95%

The current 90-days correlation between First Trust Latin and First Trust Brazil is 0.86 (i.e., Very 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 Latin moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Weak diversification

The correlation between First Trust Latin and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Latin 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 Latin. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with First Etf

0.95	EWZ	iShares MSCI Brazil Aggressive Push	Pair Corr
0.96	ILF	iShares Latin America	Pair Corr
0.97	FLBR	Franklin FTSE Brazil	Pair Corr
0.94	EWZS	iShares MSCI Brazil	Pair Corr
0.94	FLLA	Franklin FTSE Latin	Pair Corr
0.95	BRF	VanEck Brazil Small	Pair Corr
0.95	FBZ	First Trust Brazil	Pair Corr
0.83	BABX	GraniteShares 175x Long	Pair Corr
0.87	XPP	ProShares Ultra FTSE Downward Rally	Pair Corr
0.95	GDXU	MicroSectors Gold Miners	Pair Corr
0.94	JNUG	Direxion Daily Junior	Pair Corr
0.93	SHNY	Microsectors Gold	Pair Corr
0.76	BKCI	BNY Mellon ETF	Pair Corr
0.84	IBM	International Business	Pair Corr
0.76	KO	Coca Cola	Pair Corr
0.67	CVX	Chevron Corp	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.74	VZ	Verizon Communications	Pair Corr
0.84	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against First Etf

0.44	WTID	UBS ETRACS	Pair Corr
0.31	AXP	American Express	Pair Corr
0.67	MRK	Merck Company	Pair Corr
0.58	MSFT	Microsoft	Pair Corr
0.46	AA	Alcoa Corp	Pair Corr
0.42	DIS	Walt Disney	Pair Corr
0.42	CAT	Caterpillar	Pair Corr
0.35	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	FBZ	FPA	FJP	FGM	FKU
FBZ		0.84	0.73	0.69	0.81	FBZ
FPA	0.84		0.75	0.77	0.81	FPA
FJP	0.73	0.75		0.94	0.89	FJP
FGM	0.69	0.77	0.94		0.83	FGM
FKU	0.81	0.81	0.89	0.83		FKU
	FBZ	FPA	FJP	FGM	FKU

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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
FBZ	1.42	0.10	0.06	0.11	2.01	(1.37)	2.81	(2.77)	7.06
FPA	0.91	0.08	0.08	0.10	1.36	(0.83)	1.66	(2.15)	4.97
FJP	0.80	0.17	0.21	0.22	0.82	(0.93)	1.82	(1.16)	5.32
FGM	1.06	0.40	0.34	0.58	0.98	(1.27)	2.41	(2.25)	8.75
FKU	0.74	0.09	0.10	0.06	1.05	(0.71)	1.57	(1.94)	4.93

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