First Trust Correlations

FXO Etf

USD 54.36 1.25 2.35%

The current 90-days correlation between First Trust Financials and First Trust Consumer is 0.78 (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 Financials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Financials and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Financials 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 Financials. 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

0.83	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.92	VFH	Vanguard Financials Index	Pair Corr
0.96	KRE	SPDR SP Regional Aggressive Push	Pair Corr
0.97	KBE	SPDR SP Bank	Pair Corr
0.9	IYF	iShares Financials ETF	Pair Corr
0.92	FNCL	Fidelity MSCI Financials	Pair Corr
0.93	IYG	iShares Financial	Pair Corr
0.93	IAT	iShares Regional Banks	Pair Corr
0.88	CPST	Calamos ETF Trust	Pair Corr
0.83	AXP	American Express	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.67	WMT	Walmart	Pair Corr
0.78	JPM	JPMorgan Chase	Pair Corr

Moving against First Etf

0.77	BITI	ProShares Trust Downward Rally	Pair Corr
0.38	EUFN	iShares MSCI Europe	Pair Corr
0.38	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.37	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.32	PULS	PGIM Ultra Short Sell-off Trend	Pair Corr
0.44	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	FXD	FXR	FXZ	FXL	FXH
FXD		0.94	0.76	0.97	0.75	FXD
FXR	0.94		0.87	0.94	0.8	FXR
FXZ	0.76	0.87		0.8	0.86	FXZ
FXL	0.97	0.94	0.8		0.74	FXL
FXH	0.75	0.8	0.86	0.74		FXH
	FXD	FXR	FXZ	FXL	FXH

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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
FXD	0.93	(0.15)	0.00	(7.38)	0.00	0.00	1.84	(2.13)	4.40
FXR	0.96	(0.09)	0.00	3.22	0.00	0.00	1.79	(1.89)	4.64
FXZ	0.95	(0.03)	0.00	0.05	0.00	0.00	1.88	(1.91)	6.14
FXL	1.25	(0.14)	0.00	0.81	0.00	0.00	1.99	(2.65)	6.17
FXH	0.70	(0.01)	0.04	0.03	0.81	(0.74)	1.40	(1.33)	3.22

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