First Trust Correlations

Etfs . USA . 
Etf . First Trust IndustrialsProducer
FXR Etf  USD 82.76  0.33  0.40%   
The current 90-days correlation between First Trust Industri and First Trust Consumer 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust IndustrialsProduce and DJI is 0.89 (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 IndustrialsProduce 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 IndustrialsProducer. 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

  0.97XLI Industrial Select SectorPairCorr
  0.84DRVN Driven Brands HoldingsPairCorr
  0.84ITA iShares Aerospace DefensePairCorr
  0.99VIS Vanguard IndustrialsPairCorr
  0.91JETS US Global JetsPairCorr
  0.94PPA Invesco Aerospace DefensePairCorr
  0.99IYJ iShares Industrials ETF Low VolatilityPairCorr
  0.96IYT iShares Transportation Low VolatilityPairCorr
  0.99FIDU Fidelity MSCI IndustrialsPairCorr
  0.97UPRO ProShares UltraPro SP500PairCorr
  0.95QTJA Innovator ETFs TrustPairCorr
  0.89QTOC Innovator ETFs TrustPairCorr
  0.9XTOC Innovator ETFs TrustPairCorr
  0.96QTAP Innovator Growth 100PairCorr
  0.88TSJA TSJAPairCorr
  0.95XTJA Innovator ETFs TrustPairCorr
  0.87DSJA DSJAPairCorr
  0.96XDJA Innovator ETFs TrustPairCorr
  0.97XTAP Innovator Equity AccPairCorr
  0.8HD Home Depot Sell-off TrendPairCorr
  0.78TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.87HPQ HP IncPairCorr
  0.94CSCO Cisco Systems Aggressive PushPairCorr
  0.89BAC Bank of America Aggressive PushPairCorr
  0.85DIS Walt Disney Aggressive PushPairCorr
  0.88WMT Walmart Aggressive PushPairCorr

Moving against First Etf

  0.82JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.81MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.78KO Coca Cola Sell-off TrendPairCorr
  0.7BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.69PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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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.

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