First Trust Correlations

FV Etf

USD 59.50 0.16 0.27%

The current 90-days correlation between First Trust Dorsey and First Trust Dorsey is 0.41 (i.e., Very 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Dorsey and DJI is 0.49 (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 Dorsey 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 Dorsey. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with First Etf

0.8	VO	Vanguard Mid Cap	Pair Corr
0.84	VXF	Vanguard Extended Market	Pair Corr
0.67	IJH	iShares Core SP Sell-off Trend	Pair Corr
0.78	IWR	iShares Russell Mid Sell-off Trend	Pair Corr
0.67	MDY	SPDR SP MIDCAP	Pair Corr
0.69	IVOO	Vanguard SP Mid	Pair Corr
0.72	JHMM	John Hancock Multifactor	Pair Corr
0.77	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.68	XMMO	Invesco SP MidCap	Pair Corr
0.91	UPRO	ProShares UltraPro SP500	Pair Corr
0.68	QTOC	Innovator ETFs Trust	Pair Corr
0.85	XTOC	Innovator ETFs Trust	Pair Corr
0.64	XTAP	Innovator Equity Acc	Pair Corr
0.71	RXI	iShares Global Consumer	Pair Corr
0.69	WMT	Walmart	Pair Corr
0.73	HD	Home Depot	Pair Corr

Moving against First Etf

0.33

MRK

Merck Company Aggressive Push

Pair Corr

Related Correlations Analysis

	IFV	PDP	FTCS	FEX	FTA
IFV		0.59	0.58	0.55	0.33	IFV
PDP	0.59		0.8	0.91	0.72	PDP
FTCS	0.58	0.8		0.94	0.92	FTCS
FEX	0.55	0.91	0.94		0.92	FEX
FTA	0.33	0.72	0.92	0.92		FTA
	IFV	PDP	FTCS	FEX	FTA

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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
IFV	0.61	0.03	0.04	0.07	0.81	(0.65)	1.36	(1.16)	4.20
PDP	1.03	(0.04)	0.00	(0.05)	0.00	0.00	1.67	(2.77)	6.59
FTCS	0.51	(0.02)	0.00	(0.04)	0.00	0.00	0.90	(1.08)	3.21
FEX	0.57	(0.03)	0.00	(0.04)	0.00	0.00	1.06	(1.37)	4.40
FTA	0.61	(0.05)	0.00	(0.08)	0.00	0.00	1.17	(1.21)	3.81

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