First Trust Correlations

FTHY Stock

USD 14.41 0.03 0.21%

The current 90-days correlation between First Trust High and Eaton Vance National is 0.28 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Good diversification

The correlation between First Trust High and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust High 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 High. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with First Stock

0.79	V	Visa Class A	Pair Corr
0.64	AC	Associated Capital	Pair Corr
0.66	GS	Goldman Sachs Group	Pair Corr
0.84	MA	Mastercard Sell-off Trend	Pair Corr
0.76	GCMGW	GCM Grosvenor	Pair Corr
0.8	FDUS	Fidus Investment Corp	Pair Corr

Moving against First Stock

0.46	TW	Tradeweb Markets Normal Trading	Pair Corr
0.38	DHIL	Diamond Hill Investment	Pair Corr
0.44	VRTS	Virtus Investment	Pair Corr
0.43	LGHLW	Lion Financial Group	Pair Corr

Related Correlations Analysis

	IHTA	JHAA	CBH	CXH	EOT	IHIT	DTF	MHD	KTF	RFMZ
IHTA		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	IHTA
JHAA	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	JHAA
CBH	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CBH
CXH	0.0	0.0	0.0		0.82	0.0	0.82	0.79	0.85	0.75	CXH
EOT	0.0	0.0	0.0	0.82		0.0	0.73	0.81	0.89	0.75	EOT
IHIT	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	IHIT
DTF	0.0	0.0	0.0	0.82	0.73	0.0		0.83	0.74	0.84	DTF
MHD	0.0	0.0	0.0	0.79	0.81	0.0	0.83		0.84	0.88	MHD
KTF	0.0	0.0	0.0	0.85	0.89	0.0	0.74	0.84		0.79	KTF
RFMZ	0.0	0.0	0.0	0.75	0.75	0.0	0.84	0.88	0.79		RFMZ
	IHTA	JHAA	CBH	CXH	EOT	IHIT	DTF	MHD	KTF	RFMZ

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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

KTF	+ 0.89	EOT
RFMZ	+ 0.88	MHD
KTF	+ 0.85	CXH
RFMZ	+ 0.84	DTF
KTF	+ 0.84	MHD
MHD	+ 0.83	DTF

High negative correlations

RFMZ	- 0.0	IHIT
KTF	- 0.0	IHIT
MHD	- 0.0	IHIT
DTF	- 0.0	IHIT
IHIT	- 0.0	EOT
IHIT	- 0.0	CXH

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Trust Company 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
IHTA	0.00	0.00	0.00	0.00	0.00	0.00
JHAA	0.00	0.00	0.00	0.00	0.00	0.00
CBH	0.00	0.00	0.00	0.00	0.00	0.00
CXH	0.42	(0.06)	0.99	0.76	(1.01)	2.37
EOT	0.48	(0.04)	(0.25)	1.01	(1.28)	2.87
IHIT	0.00	0.00	0.00	0.00	0.00	0.00
DTF	0.32	(0.02)	(0.83)	0.72	(0.62)	1.72
MHD	0.51	(0.06)	(0.52)	0.94	(1.04)	2.80
KTF	0.38	(0.06)	(0.75)	0.75	(1.03)	2.76
RFMZ	0.54	(0.07)	0.78	1.13	(1.33)	3.16

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