First Trust Correlations

FVD Etf

USD 46.58 0.09 0.19%

The current 90-days correlation between First Trust Value and First Trust Morningstar is 0.79 (i.e., Poor 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 poor diversification

The correlation between First Trust Value and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Value 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 Value. 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

0.96	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.94	VYM	Vanguard High Dividend	Pair Corr
0.95	IWD	iShares Russell 1000	Pair Corr
0.96	DGRO	iShares Core Dividend Sell-off Trend	Pair Corr
0.96	IVE	iShares SP 500	Pair Corr
0.92	DVY	iShares Select Dividend	Pair Corr
0.96	SPYV	SPDR Portfolio SP	Pair Corr
0.96	IUSV	iShares Core SP	Pair Corr
0.91	NOBL	ProShares SP 500	Pair Corr
0.86	IYC	iShares Consumer Dis	Pair Corr
0.9	VTI	Vanguard Total Stock	Pair Corr
0.88	VBK	Vanguard Small Cap	Pair Corr
0.82	HD	Home Depot Sell-off Trend	Pair Corr
0.81	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.84	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.73	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.83	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.81	WMT	Walmart Aggressive Push	Pair Corr
0.82	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.9	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.65	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Moving against First Etf

0.41	AIVI	WisdomTree International	Pair Corr
0.63	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.61	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.53	KO	Coca Cola Sell-off Trend	Pair Corr

Related Correlations Analysis

	FDL	RDVY	FTCS	DLN	PFM
FDL		0.89	0.86	0.93	0.92	FDL
RDVY	0.89		0.83	0.96	0.92	RDVY
FTCS	0.86	0.83		0.88	0.94	FTCS
DLN	0.93	0.96	0.88		0.97	DLN
PFM	0.92	0.92	0.94	0.97		PFM
	FDL	RDVY	FTCS	DLN	PFM

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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
FDL	0.54	0.03	(0.04)	0.16	0.41	(0.62)	1.18	(0.86)	2.77
RDVY	0.79	(0.01)	0.04	0.12	0.63	(0.97)	1.30	(1.17)	7.19
FTCS	0.47	(0.02)	(0.10)	0.09	0.46	(0.50)	0.98	(0.93)	2.85
DLN	0.45	0.01	(0.05)	0.13	0.35	(0.49)	0.99	(0.75)	2.88
PFM	0.50	(0.01)	(0.07)	0.11	0.41	(0.60)	0.98	(0.93)	3.09

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