First Trust Correlations

FPA Etf

USD 29.74 0.21 0.71%

The current 90-days correlation between First Trust Asia and First Trust Japan is 0.4 (i.e., Very weak 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.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Asia and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Asia 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 Asia. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with First Etf

0.75	BBAX	JPMorgan BetaBuilders	Pair Corr
0.78	AAXJ	iShares MSCI All	Pair Corr
0.65	EPP	iShares MSCI Pacific	Pair Corr
0.85	AIA	iShares Asia 50	Pair Corr
0.64	GMF	SPDR SP Emerging	Pair Corr
0.78	FLAX	Franklin FTSE Asia	Pair Corr
0.8	DVYA	iShares AsiaPacific	Pair Corr
0.79	MINV	Matthews Asia Innovators	Pair Corr
0.87	ADIV	SmartETFs Asia Pacific	Pair Corr
0.65	IBM	International Business	Pair Corr
0.61	KO	Coca Cola	Pair Corr
0.61	DD	Dupont De Nemours	Pair Corr

Moving against First Etf

0.48	USD	ProShares Ultra Semi	Pair Corr
0.36	TECL	Direxion Daily Technology	Pair Corr
0.33	ROM	ProShares Ultra Tech	Pair Corr
0.32	PFE	Pfizer Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	FJP	FLN	FKU	FGM	FDTS
FJP		0.87	0.89	0.86	0.96	FJP
FLN	0.87		0.89	0.79	0.94	FLN
FKU	0.89	0.89		0.77	0.92	FKU
FGM	0.86	0.79	0.77		0.83	FGM
FDTS	0.96	0.94	0.92	0.83		FDTS
	FJP	FLN	FKU	FGM	FDTS

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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
FJP	0.78	0.21	0.29	(4.95)	0.71	(0.94)	1.82	(1.16)	5.32
FLN	0.91	0.24	0.25	9.02	0.93	(0.97)	2.33	(1.47)	5.12
FKU	0.71	0.11	0.18	(13.42)	0.88	(0.73)	1.57	(1.34)	4.93
FGM	1.07	0.50	0.43	0.74	0.77	(1.34)	2.41	(2.25)	8.75
FDTS	0.73	0.13	0.24	(3.09)	0.67	(0.87)	1.55	(1.18)	4.89

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