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

  0.75BBAX JPMorgan BetaBuildersPairCorr
  0.78AAXJ iShares MSCI AllPairCorr
  0.65EPP iShares MSCI PacificPairCorr
  0.85AIA iShares Asia 50PairCorr
  0.64GMF SPDR SP EmergingPairCorr
  0.78FLAX Franklin FTSE AsiaPairCorr
  0.8DVYA iShares AsiaPacificPairCorr
  0.79MINV Matthews Asia InnovatorsPairCorr
  0.87ADIV SmartETFs Asia PacificPairCorr
  0.65IBM International BusinessPairCorr
  0.61KO Coca ColaPairCorr
  0.61DD Dupont De NemoursPairCorr

Moving against First Etf

  0.48USD ProShares Ultra SemiPairCorr
  0.36TECL Direxion Daily TechnologyPairCorr
  0.33ROM ProShares Ultra TechPairCorr
  0.32PFE Pfizer Inc Sell-off TrendPairCorr

Related Correlations Analysis

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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.