First Trust Correlations
HDMV Etf | USD 31.94 0.20 0.63% |
The current 90-days correlation between First Trust Horizon and First Trust Horizon is 0.58 (i.e., Very 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 Horizon 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 Horizon and DJI in the same portfolio, assuming nothing else is changed.
First |
Moving together with First Etf
0.98 | EFV | iShares MSCI EAFE | PairCorr |
0.98 | FNDF | Schwab Fundamental | PairCorr |
0.98 | VYMI | Vanguard International | PairCorr |
0.98 | IDV | iShares International | PairCorr |
0.96 | DFIV | Dimensional International | PairCorr |
0.98 | IVLU | iShares Edge MSCI | PairCorr |
0.99 | RODM | Hartford Multifactor | PairCorr |
0.97 | PXF | Invesco FTSE RAFI | PairCorr |
0.98 | HDEF | Xtrackers MSCI EAFE | PairCorr |
0.78 | PID | Invesco International | PairCorr |
0.78 | HART | IQ Healthy Hearts | PairCorr |
0.97 | IDOG | ALPS International Sector | PairCorr |
0.95 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
0.83 | MCD | McDonalds | PairCorr |
0.89 | KO | Coca Cola | PairCorr |
0.65 | MMM | 3M Company | PairCorr |
0.65 | GE | GE Aerospace | PairCorr |
0.72 | PG | Procter Gamble Sell-off Trend | PairCorr |
0.91 | VZ | Verizon Communications Sell-off Trend | PairCorr |
0.7 | CSCO | Cisco Systems | PairCorr |
Moving against First Etf
0.64 | PRME | Prime Medicine, Common | PairCorr |
0.59 | VBK | Vanguard Small Cap | PairCorr |
0.51 | EOS | Eaton Vance Enhanced | PairCorr |
0.5 | XOP | SPDR SP Oil | PairCorr |
0.59 | AA | Alcoa Corp | PairCorr |
0.54 | CAT | Caterpillar | PairCorr |
0.47 | BAC | Bank of America | PairCorr |
0.46 | HPQ | HP Inc | PairCorr |
0.41 | DIS | Walt Disney | PairCorr |
0.34 | BA | Boeing | PairCorr |
0.32 | HD | Home Depot | PairCorr |
Related Correlations Analysis
0.75 | 0.93 | 0.92 | 0.94 | HUSV | ||
0.75 | 0.79 | 0.78 | 0.76 | RFEM | ||
0.93 | 0.79 | 0.99 | 0.98 | RFDI | ||
0.92 | 0.78 | 0.99 | 0.97 | GSEU | ||
0.94 | 0.76 | 0.98 | 0.97 | HFXI | ||
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
HUSV | 0.55 | 0.05 | 0.00 | (0.04) | 0.00 | 0.93 | 3.02 | |||
RFEM | 0.72 | 0.07 | 0.16 | 0.05 | 0.96 | 1.45 | 5.18 | |||
RFDI | 0.62 | 0.13 | 0.21 | 0.11 | 0.84 | 1.10 | 4.11 | |||
GSEU | 0.70 | 0.17 | 0.25 | 0.18 | 0.80 | 1.45 | 5.02 | |||
HFXI | 0.59 | 0.12 | 0.21 | 0.08 | 0.79 | 1.23 | 4.12 |