First Trust Correlations

FXL Etf

USD 140.52 3.09 2.25%

The current 90-days correlation between First Trust Technology and First Trust Financials is 0.72 (i.e., Poor 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 Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Technology and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Technology 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 Technology. 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

0.92	VGT	Vanguard Information	Pair Corr
0.93	XLK	Technology Select Sector	Pair Corr
0.94	IYW	iShares Technology ETF	Pair Corr
0.86	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	SOXX	iShares Semiconductor ETF	Pair Corr
0.92	FTEC	Fidelity MSCI Information	Pair Corr
0.97	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.96	FDN	First Trust Dow	Pair Corr
0.98	IGM	iShares Expanded Tech	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.85	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.98	VBK	Vanguard Small Cap	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.94	AXP	American Express Sell-off Trend	Pair Corr
0.69	JPM	JPMorgan Chase	Pair Corr
0.9	BAC	Bank of America Sell-off Trend	Pair Corr
0.73	WMT	Walmart Aggressive Push	Pair Corr
0.79	BA	Boeing	Pair Corr
0.82	HPQ	HP Inc	Pair Corr

Moving against First Etf

0.98	FNGD	MicroSectors FANG Index	Pair Corr
0.6	JPST	JPMorgan Ultra Short	Pair Corr
0.36	GDXU	MicroSectors Gold Miners	Pair Corr
0.32	EEM	iShares MSCI Emerging	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.69	VZ	Verizon Communications	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr
0.49	T	ATT Inc Earnings Call Today	Pair Corr
0.47	MCD	McDonalds	Pair Corr
0.38	PG	Procter Gamble	Pair Corr
0.36	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	FXO	FXR	FXH	FXD	FXN
FXO		0.88	0.83	0.85	0.63	FXO
FXR	0.88		0.72	0.94	0.66	FXR
FXH	0.83	0.72		0.67	0.65	FXH
FXD	0.85	0.94	0.67		0.55	FXD
FXN	0.63	0.66	0.65	0.55		FXN
	FXO	FXR	FXH	FXD	FXN

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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
FXO	0.89	(0.01)	(0.08)	1.75	(2.92)	5.74
FXR	0.95	(0.12)	(0.19)	1.76	(2.22)	4.64
FXH	0.71	(0.01)	(0.08)	1.42	(1.41)	3.29
FXD	0.91	(0.15)	(0.22)	1.55	(2.31)	4.51
FXN	1.21	0.03	(0.03)	2.03	(3.17)	7.86

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