First Trust Correlations

FPE Etf

USD 17.81 0.04 0.23%

The current 90-days correlation between First Trust Preferred and Invesco Variable Rate is 0.8 (i.e., Very 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.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Preferred and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Preferred 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 Preferred. 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

0.76	PGX	Invesco Preferred ETF Sell-off Trend	Pair Corr
0.65	PFFD	Global X Preferred	Pair Corr
0.96	VRP	Invesco Variable Rate	Pair Corr
0.8	PGF	Invesco Financial	Pair Corr
0.73	PSK	SPDR ICE Preferred	Pair Corr
0.95	FPEI	First Trust Institutional	Pair Corr
0.77	PFFA	Virtus InfraCap Preferred	Pair Corr
0.62	SHLD	Global X Funds	Pair Corr
0.69	LUX	Tema ETF Trust	Pair Corr
0.68	DUKH	Ocean Park High	Pair Corr
0.74	SMI	VanEck Vectors ETF	Pair Corr
0.68	GDXU	MicroSectors Gold Miners	Pair Corr
0.76	KO	Coca Cola	Pair Corr
0.71	MMM	3M Company	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr
0.8	IBM	International Business	Pair Corr
0.84	T	ATT Inc Earnings Call Today	Pair Corr
0.73	MCD	McDonalds	Pair Corr

Moving against First Etf

0.49	AA	Alcoa Corp	Pair Corr
0.41	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	VRP	PFXF	HYLS	FTSL	PSK
VRP		0.13	0.85	0.69	0.63	VRP
PFXF	0.13		0.4	0.28	0.7	PFXF
HYLS	0.85	0.4		0.78	0.7	HYLS
FTSL	0.69	0.28	0.78		0.44	FTSL
PSK	0.63	0.7	0.7	0.44		PSK
	VRP	PFXF	HYLS	FTSL	PSK

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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
VRP	0.20	0.02	0.24	0.08	0.26	(0.20)	0.37	(0.45)	1.62
PFXF	0.45	0.00	0.00	(0.06)	0.00	0.00	0.76	(0.92)	2.27
HYLS	0.18	0.00	0.22	(0.05)	0.24	(0.19)	0.41	(0.36)	1.17
FTSL	0.07	0.00	0.68	(0.05)	0.00	(0.09)	0.13	(0.15)	0.81
PSK	0.50	0.00	0.00	(0.05)	0.00	0.00	1.09	(1.02)	3.25

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