First Trust Correlations

FTXH Etf

USD 27.26 0.03 0.11%

The current 90-days correlation between First Trust Nasdaq and Invesco DWA Industrials is 0.13 (i.e., Average 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 Nasdaq and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Nasdaq 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 Nasdaq. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with First Etf

0.83	XLV	Health Care Select Sell-off Trend	Pair Corr
0.86	VHT	Vanguard Health Care	Pair Corr
0.88	IBB	iShares Biotechnology ETF Potential Growth	Pair Corr
0.85	XBI	SPDR SP Biotech Sell-off Trend	Pair Corr
0.84	IXJ	iShares Global Healthcare	Pair Corr
0.84	IYH	iShares Healthcare ETF	Pair Corr
0.91	FHLC	Fidelity MSCI Health	Pair Corr
0.78	IHF	iShares Healthcare	Pair Corr
0.64	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.71	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against First Etf

0.66	BITX	Volatility Shares Trust Low Volatility	Pair Corr
0.61	FNGU	MicroSectors FANG Index	Pair Corr
0.59	WEBL	Direxion Daily Dow	Pair Corr
0.42	NVDL	GraniteShares 15x Long	Pair Corr
0.42	NVDU	Direxion Daily NVDA	Pair Corr
0.41	NVDX	T Rex 2X	Pair Corr
0.34	USD	ProShares Ultra Semi	Pair Corr
0.66	DIS	Walt Disney	Pair Corr
0.64	T	ATT Inc Sell-off Trend	Pair Corr
0.59	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.57	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.55	CSCO	Cisco Systems	Pair Corr
0.35	HD	Home Depot	Pair Corr

Related Correlations Analysis

	PRN	PSL	PEZ	PYZ
PRN		0.86	0.91	0.71	PRN
PSL	0.86		0.9	0.47	PSL
PEZ	0.91	0.9		0.75	PEZ
PYZ	0.71	0.47	0.75		PYZ
	PRN	PSL	PEZ	PYZ

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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
PRN	0.94	0.09	0.11	0.12	0.83	(1.02)	2.64	(1.46)	8.73
PSL	0.51	0.06	0.06	0.16	0.44	(0.55)	1.30	(1.05)	2.80
PEZ	0.83	0.01	0.01	0.07	0.86	(0.90)	1.91	(1.43)	4.14
PYZ	0.77	(0.05)	(0.06)	0.01	0.83	(0.83)	1.89	(1.25)	5.13

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