First Trust Correlations
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.
First |
Moving together with First Etf
0.98 | BSV | Vanguard Short Term Sell-off Trend | PairCorr |
0.98 | IGSB | iShares 1 5 | PairCorr |
0.94 | SPSB | SPDR Barclays Short Sell-off Trend | PairCorr |
0.98 | ISTB | iShares Core 1 | PairCorr |
0.97 | SLQD | iShares 0 5 | PairCorr |
0.99 | GVI | iShares Intermediate | PairCorr |
0.91 | LDUR | PIMCO Enhanced Low | PairCorr |
0.98 | SUSB | iShares ESG 1 | PairCorr |
0.92 | FXY | Invesco CurrencyShares | PairCorr |
0.96 | PMBS | PIMCO Mortgage Backed | PairCorr |
0.71 | AMPD | Tidal Trust II | PairCorr |
0.93 | VGK | Vanguard FTSE Europe | PairCorr |
0.97 | CAAA | First Trust Exchange | PairCorr |
0.88 | DDWM | WisdomTree Dynamic | PairCorr |
0.93 | GHTA | Collaborative Investment | PairCorr |
0.67 | FLBR | Franklin FTSE Brazil | PairCorr |
0.87 | TCHI | iShares MSCI China | PairCorr |
0.95 | BKAG | BNY Mellon Core | PairCorr |
0.77 | NTSE | WisdomTree Emerging | PairCorr |
0.84 | INTL | Main International ETF Low Volatility | PairCorr |
0.85 | QHY | WisdomTree Short Term Symbol Change | PairCorr |
0.94 | AIVI | WisdomTree International | PairCorr |
0.92 | EMB | iShares JP Morgan Symbol Change | PairCorr |
0.81 | SPAQ | Horizon Kinetics SPAC | PairCorr |
0.72 | BOIL | ProShares Ultra Bloomberg Downward Rally | PairCorr |
0.96 | IUSB | iShares Core Total | PairCorr |
0.72 | AMPS | Altus Power | PairCorr |
0.74 | MNA | IQ Merger Arbitrage | PairCorr |
0.94 | USTB | VictoryShares USAA Core | PairCorr |
0.93 | SPEU | SPDR Portfolio Europe | PairCorr |
0.76 | DEM | WisdomTree Emerging | PairCorr |
0.96 | HCRB | Hartford Core Bond | PairCorr |
0.91 | EFNL | iShares MSCI Finland | PairCorr |
0.87 | CGUI | Capital Group Fixed | PairCorr |
Moving against First Etf
Related Correlations Analysis
0.94 | 0.87 | 0.99 | 0.68 | UCON | ||
0.94 | 0.66 | 0.94 | 0.67 | FIXD | ||
0.87 | 0.66 | 0.86 | 0.61 | FTSM | ||
0.99 | 0.94 | 0.86 | 0.69 | LMBS | ||
0.68 | 0.67 | 0.61 | 0.69 | HYLS | ||
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
UCON | 0.12 | 0.00 | 0.70 | 0.37 | 0.09 | 0.24 | 0.70 | |||
FIXD | 0.28 | (0.01) | 0.00 | (0.26) | 0.00 | 0.57 | 1.53 | |||
FTSM | 0.02 | 0.01 | 3.56 | 6.08 | 0.00 | 0.07 | 0.10 | |||
LMBS | 0.10 | 0.01 | 0.93 | 0.56 | 0.00 | 0.24 | 0.54 | |||
HYLS | 0.18 | 0.00 | 0.00 | (0.11) | 0.00 | 0.37 | 1.17 |