First Trust Correlations

FTHI Etf

USD 22.83 0.04 0.18%

The current 90-days correlation between First Trust BuyWrite and First Trust Emerging is 0.34 (i.e., 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

Very weak diversification

The correlation between First Trust BuyWrite and DJI is 0.59 (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 BuyWrite 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 BuyWrite. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with First Etf

0.71	DIVO	Amplify CWP Enhanced	Pair Corr
0.82	RYLD	Global X Russell	Pair Corr
0.76	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.69	RXI	iShares Global Consumer	Pair Corr
0.8	AIQ	Global X Artificial	Pair Corr

Moving against First Etf

0.39

PFE

Pfizer Inc

Pair Corr

Related Correlations Analysis

	FEMB	FMB	FTSL	FCEF	HYLS
FEMB		0.76	0.21	0.81	0.79	FEMB
FMB	0.76		-0.18	0.66	0.58	FMB
FTSL	0.21	-0.18		0.32	0.6	FTSL
FCEF	0.81	0.66	0.32		0.74	FCEF
HYLS	0.79	0.58	0.6	0.74		HYLS
	FEMB	FMB	FTSL	FCEF	HYLS

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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

FCEF	+ 0.81	FEMB
HYLS	+ 0.79	FEMB
FMB	+ 0.76	FEMB
HYLS	+ 0.74	FCEF
FCEF	+ 0.66	FMB
HYLS	+ 0.6	FTSL

High negative correlations

FTSL

- 0.18

FMB

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
FEMB	0.42	0.01	0.13	0.08	0.47	(0.48)	0.95	(0.81)	1.88
FMB	0.19	0.01	0.26	0.09	0.21	(0.19)	0.35	(0.41)	1.00
FTSL	0.06	0.01	0.72	0.59	0.00	(0.08)	0.11	(0.13)	0.81
FCEF	0.41	0.02	0.11	0.01	0.54	(0.44)	0.83	(0.80)	2.50
HYLS	0.17	0.01	0.33	(0.41)	0.13	(0.18)	0.41	(0.32)	1.26

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