First Trust Correlations

FTXN Etf

USD 29.86 0.32 1.06%

The current 90-days correlation between First Trust Nasdaq and First Trust Nasdaq is 0.44 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Nasdaq moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Nasdaq and DJI is 0.4 (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 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

0.9	XLE	Energy Select Sector	Pair Corr
0.98	VDE	Vanguard Energy Index	Pair Corr
0.93	XOP	SPDR SP Oil	Pair Corr
0.83	OIH	VanEck Oil Services	Pair Corr
0.94	IYE	iShares Energy ETF	Pair Corr
0.82	IXC	iShares Global Energy	Pair Corr
0.96	FXN	First Trust Energy	Pair Corr
0.97	FENY	Fidelity MSCI Energy	Pair Corr
0.99	IEO	iShares Oil Gas	Pair Corr

Moving against First Etf

0.57	PG	Procter Gamble	Pair Corr
0.37	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	FTXO	FTXH	FTXG	FTXR	FTRI
FTXO		-0.36	-0.57	0.78	0.01	FTXO
FTXH	-0.36		0.47	-0.7	0.56	FTXH
FTXG	-0.57	0.47		-0.43	-0.13	FTXG
FTXR	0.78	-0.7	-0.43		-0.41	FTXR
FTRI	0.01	0.56	-0.13	-0.41		FTRI
	FTXO	FTXH	FTXG	FTXR	FTRI

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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

FTXR	+ 0.78	FTXO
FTRI	+ 0.56	FTXH
FTXG	+ 0.47	FTXH
FTRI	+ 0.01	FTXO

High negative correlations

FTXR	- 0.7	FTXH
FTXG	- 0.57	FTXO
FTXR	- 0.43	FTXG
FTRI	- 0.41	FTXR
FTXH	- 0.36	FTXO
FTRI	- 0.13	FTXG

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
FTXO	1.12	(0.05)	0.00	(0.11)	0.00	0.00	1.89	(2.67)	7.72
FTXH	0.73	0.07	0.12	0.12	0.86	(0.79)	1.41	(1.30)	3.75
FTXG	0.89	(0.06)	0.00	(0.29)	0.00	0.00	1.73	(2.14)	5.01
FTXR	1.02	(0.19)	0.00	(0.25)	0.00	0.00	1.81	(2.98)	5.73
FTRI	0.75	0.10	0.11	0.10	1.04	(0.77)	1.42	(1.50)	4.12

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