First Trust Correlations

FXD Etf

USD 58.47 0.07 0.12%

The current 90-days correlation between First Trust Consumer and First Trust Consumer is 0.34 (i.e., 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.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust Consumer and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Consumer 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 Consumer. 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

0.7	XLY	Consumer Discretionary	Pair Corr
0.72	VCR	Vanguard Consumer	Pair Corr
0.72	FDIS	Fidelity MSCI Consumer	Pair Corr
0.86	XHB	SPDR SP Homebuilders	Pair Corr
0.76	IYC	iShares Consumer Dis	Pair Corr
0.74	PEJ	Invesco Dynamic Leisure	Pair Corr
0.91	RCD	Ready Capital	Pair Corr
0.96	XRT	SPDR SP Retail	Pair Corr
0.7	SWP	SWP Growth Income	Pair Corr
0.78	WINN	Harbor Long Term	Pair Corr
0.67	BA	Boeing	Pair Corr
0.81	BAC	Bank of America	Pair Corr
0.86	AXP	American Express	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.61	WMT	Walmart	Pair Corr
0.65	HPQ	HP Inc	Pair Corr

Moving against First Etf

0.79	FNGD	MicroSectors FANG Index	Pair Corr
0.58	SHLD	Global X Funds	Pair Corr
0.32	XOM	Exxon Mobil Corp	Pair Corr
0.62	VZ	Verizon Communications	Pair Corr
0.47	KO	Coca Cola	Pair Corr
0.46	JNJ	Johnson Johnson	Pair Corr
0.42	PG	Procter Gamble	Pair Corr
0.38	T	ATT Inc Earnings Call Today	Pair Corr

Related Correlations Analysis

	FXG	FXR	FXH	FXZ	FXO
FXG		0.19	0.43	0.29	0.32	FXG
FXR	0.19		0.8	0.86	0.9	FXR
FXH	0.43	0.8		0.87	0.84	FXH
FXZ	0.29	0.86	0.87		0.84	FXZ
FXO	0.32	0.9	0.84	0.84		FXO
	FXG	FXR	FXH	FXZ	FXO

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FXG	0.65	(0.03)	2.42	1.44	(1.62)	4.32
FXR	0.93	(0.12)	(2.06)	1.76	(1.89)	4.64
FXH	0.68	(0.03)	0.31	1.31	(1.33)	3.22
FXZ	0.93	(0.05)	0.13	1.88	(1.91)	6.14
FXO	0.83	(0.03)	(1.03)	1.48	(2.05)	5.74

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