First Trust Correlations

Etfs . USA . 
Etf . First Trust Small
FYT Etf  USD 50.20  0.29  0.57%   
The current 90-days correlation between First Trust Small and First Trust Mid is 0.96 (i.e., Almost no 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

Poor diversification

The correlation between First Trust Small and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Small 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 Small. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with First Etf

  0.94VBR Vanguard Small CapPairCorr
  0.97IWN iShares Russell 2000PairCorr
  0.89IJJ iShares SP MidPairCorr
  0.96DFAT Dimensional TargetedPairCorr
  0.99IJS iShares SP SmallPairCorr
  0.99SLYV SPDR SP 600PairCorr
  0.98AVUV Avantis Small CapPairCorr
  0.97DES WisdomTree SmallCapPairCorr
  0.88MDYV SPDR SP 400PairCorr
  0.97CALF Pacer Small CapPairCorr
  0.86GBTC Grayscale Bitcoin TrustPairCorr
  0.69USD ProShares Ultra Semi Downward RallyPairCorr
  0.78FNGO MicroSectors FANG IndexPairCorr
  0.63PXE Invesco Dynamic EnergyPairCorr

Moving against First Etf

  0.36FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.93DWSH AdvisorShares DorseyPairCorr
  0.72DTH WisdomTree InternationalPairCorr
  0.68MBS Angel Oak MortgagePairCorr
  0.66FIVA Fidelity InternationalPairCorr
  0.64GHTA Collaborative InvestmentPairCorr
  0.63FXE Invesco CurrencySharesPairCorr
  0.61UGL ProShares Ultra GoldPairCorr
  0.58TIP iShares TIPS BondPairCorr
  0.52BNDC FlexShares Core SelectPairCorr
  0.51VIDI Vident InternationalPairCorr
  0.49INTL Main International ETF Low VolatilityPairCorr
  0.48VXUS Vanguard Total Inter Sell-off TrendPairCorr
  0.44USCI United States CommodityPairCorr
  0.82CGUI Capital Group FixedPairCorr
  0.74ICLO Invesco Aaa CloPairCorr
  0.67CADEX Cion Ares DiversifiedPairCorr
  0.66GSEU Goldman Sachs ActiveBetaPairCorr
  0.64DDWM WisdomTree Dynamic Low VolatilityPairCorr
  0.63MOTI VanEck Morningstar Low VolatilityPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY