First Trust Correlations

Etfs . USA . 
Etf . First Trust Utilities
FXU Etf  USD 40.79  0.01  0.02%   
The current 90-days correlation between First Trust Utilities and First Trust Consumer is 0.37 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Weak diversification

The correlation between First Trust Utilities and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Utilities 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 Utilities. 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

  0.86XLU Utilities Select SectorPairCorr
  0.89VPU Vanguard Utilities IndexPairCorr
  0.76AMPS Altus PowerPairCorr
  0.89FUTY Fidelity MSCI UtilitiesPairCorr
  0.91IDU iShares Utilities ETFPairCorr
  0.98JXI iShares Global UtilitiesPairCorr
  0.85GDXU MicroSectors Gold MinersPairCorr
  0.77MMM 3M CompanyPairCorr
  0.87JNJ Johnson JohnsonPairCorr
  0.69TRV The Travelers CompaniesPairCorr
  0.77IBM International BusinessPairCorr
  0.79GE GE AerospacePairCorr
  0.78INTC IntelPairCorr
  0.77CVX Chevron Corp Sell-off TrendPairCorr

Moving against First Etf

  0.65NAIL Direxion Daily Homeb Downward RallyPairCorr
  0.59GBTC Grayscale Bitcoin TrustPairCorr
  0.55TECL Direxion Daily TechnologyPairCorr
  0.54USD ProShares Ultra SemiPairCorr
  0.51FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.48FNGO MicroSectors FANG IndexPairCorr
  0.36SPXL Direxion Daily SP500 Sell-off TrendPairCorr
  0.35UPRO ProShares UltraPro SP500PairCorr
  0.74MSFT MicrosoftPairCorr
  0.62MRK Merck CompanyPairCorr
  0.56CAT CaterpillarPairCorr
  0.55AA Alcoa CorpPairCorr
  0.48DIS Walt DisneyPairCorr
  0.42HPQ HP IncPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FXD
+ 0.94
FXR
FXO
+ 0.88
FXR
FXO
+ 0.85
FXD
FXN
+ 0.66
FXR
FXO
+ 0.63
FXN
FXN
+ 0.55
FXD
  
High negative correlations   
FXN
- 0.14
FXG

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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