First Trust Correlations
| FTAG Etf | USD 24.75 0.03 0.12% |
The current 90-days correlation between First Trust Indxx and First Trust Indxx 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
Modest diversification
The correlation between First Trust Indxx and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Indxx and DJI in the same portfolio, assuming nothing else is changed.
First |
Moving together with First Etf
| 0.72 | XLB | Materials Select Sector | PairCorr |
| 0.96 | MOO | VanEck Agribusiness ETF | PairCorr |
| 0.68 | FXZ | First Trust Materials | PairCorr |
| 0.65 | IYM | iShares Basic Materials | PairCorr |
| 0.78 | LUX | Tema ETF Trust | PairCorr |
| 0.66 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.61 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
Moving against First Etf
| 0.47 | VR | VR | PairCorr |
| 0.36 | KONG | Formidable Fortress ETF | PairCorr |
| 0.35 | JAVA | JPMorgan Active Value | PairCorr |
| 0.58 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.57 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.57 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.43 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.35 | WMT | Walmart | PairCorr |
Related Correlations Analysis
| 0.18 | 0.34 | -0.35 | 0.69 | FTRI | ||
| 0.18 | 0.74 | -0.52 | 0.56 | FTXH | ||
| 0.34 | 0.74 | -0.8 | 0.73 | FTXG | ||
| -0.35 | -0.52 | -0.8 | -0.64 | FTXR | ||
| 0.69 | 0.56 | 0.73 | -0.64 | FDTS | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FTRI | 0.76 | 0.02 | (0.08) | 0.25 | 0.85 | 1.64 | 4.03 | |||
| FTXH | 0.60 | (0.13) | 0.00 | (0.09) | 0.00 | 1.12 | 4.86 | |||
| FTXG | 0.53 | (0.13) | 0.00 | (0.35) | 0.00 | 0.79 | 2.81 | |||
| FTXR | 0.98 | 0.09 | 0.14 | 0.18 | 0.78 | 2.11 | 7.98 | |||
| FDTS | 0.71 | (0.03) | (0.13) | (0.01) | 0.88 | 1.91 | 5.17 |