First Trust Correlations

GRID Etf

USD 124.61 1.28 1.02%

The current 90-days correlation between First Trust NASDAQ and First Trust Global is 0.33 (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.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust NASDAQ and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NASDAQ and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in First Trust NASDAQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

0.62

CAT

Caterpillar Sell-off Trend

Pair Corr

Related Correlations Analysis

	FAN	PBD	ACES	CNRG	QCLN
FAN		0.95	0.76	0.21	0.1	FAN
PBD	0.95		0.85	0.35	0.23	PBD
ACES	0.76	0.85		0.61	0.54	ACES
CNRG	0.21	0.35	0.61		0.86	CNRG
QCLN	0.1	0.23	0.54	0.86		QCLN
	FAN	PBD	ACES	CNRG	QCLN

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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
FAN	0.87	(0.16)	0.00	(6.68)	0.00	0.00	1.38	(1.68)	7.56
PBD	1.29	(0.14)	0.00	(2.55)	0.00	0.00	2.08	(2.49)	9.68
ACES	1.39	(0.05)	0.00	(0.13)	0.00	0.00	2.72	(2.67)	8.54
CNRG	1.26	0.04	(0.02)	0.80	1.95	(1.18)	2.19	(2.77)	9.21
QCLN	1.41	0.03	0.00	0.14	1.67	(1.42)	2.56	(2.54)	7.07

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First Trust Correlations

First Trust Correlation With Market

Significant diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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