First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange Traded
FSIG Etf  USD 18.97  0.01  0.05%   
The current 90-days correlation between First Trust Exchange and First Trust TCW is 0.67 (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.

First Trust Correlation With Market

Average diversification

The correlation between First Trust Exchange Traded and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange Traded 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 Exchange Traded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

  0.98BSV Vanguard Short Term Sell-off TrendPairCorr
  0.98IGSB iShares 1 5PairCorr
  0.94SPSB SPDR Barclays Short Sell-off TrendPairCorr
  0.98ISTB iShares Core 1PairCorr
  0.97SLQD iShares 0 5PairCorr
  0.99GVI iShares IntermediatePairCorr
  0.91LDUR PIMCO Enhanced LowPairCorr
  0.98SUSB iShares ESG 1PairCorr
  0.92FXY Invesco CurrencySharesPairCorr
  0.96PMBS PIMCO Mortgage BackedPairCorr
  0.71AMPD Tidal Trust IIPairCorr
  0.93VGK Vanguard FTSE EuropePairCorr
  0.97CAAA First Trust ExchangePairCorr
  0.88DDWM WisdomTree DynamicPairCorr
  0.93GHTA Collaborative InvestmentPairCorr
  0.67FLBR Franklin FTSE BrazilPairCorr
  0.87TCHI iShares MSCI ChinaPairCorr
  0.95BKAG BNY Mellon CorePairCorr
  0.77NTSE WisdomTree EmergingPairCorr
  0.84INTL Main International ETF Low VolatilityPairCorr
  0.85QHY WisdomTree Short Term Symbol ChangePairCorr
  0.94AIVI WisdomTree InternationalPairCorr
  0.92EMB iShares JP Morgan Symbol ChangePairCorr
  0.81SPAQ Horizon Kinetics SPACPairCorr
  0.72BOIL ProShares Ultra Bloomberg Downward RallyPairCorr
  0.96IUSB iShares Core TotalPairCorr
  0.72AMPS Altus PowerPairCorr
  0.74MNA IQ Merger ArbitragePairCorr
  0.94USTB VictoryShares USAA CorePairCorr
  0.93SPEU SPDR Portfolio EuropePairCorr
  0.76DEM WisdomTree EmergingPairCorr
  0.96HCRB Hartford Core BondPairCorr
  0.91EFNL iShares MSCI FinlandPairCorr
  0.87CGUI Capital Group FixedPairCorr

Moving against First Etf

  0.74WGMI Valkyrie Bitcoin MinersPairCorr

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.

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