First Trust Correlations

LEGR Etf

USD 49.50 0.63 1.26%

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

Average diversification

The correlation between First Trust Indxx and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Indxx and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Etf

0.85	MLPR	ETRACS Quarterly Pay	Pair Corr
0.77	AMZA	InfraCap MLP ETF	Pair Corr
0.62	ATMP	Barclays ETN Select	Pair Corr
0.85	GDXU	MicroSectors Gold Miners	Pair Corr
0.67	JNJ	Johnson Johnson	Pair Corr
0.67	GE	GE Aerospace	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.72	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.64	VZ	Verizon Communications	Pair Corr
0.68	KO	Coca Cola	Pair Corr
0.71	IBM	International Business	Pair Corr

Moving against First Etf

0.53	BLCN	Siren Nasdaq NexGen	Pair Corr
0.53	DAPP	VanEck Digital Trans	Pair Corr
0.47	USD	ProShares Ultra Semi	Pair Corr
0.46	BITQ	Bitwise Crypto Industry	Pair Corr
0.45	CRPT	First Trust SkyBridge	Pair Corr
0.37	AA	Alcoa Corp	Pair Corr
0.63	MRK	Merck Company	Pair Corr
0.37	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	KOIN	BLCN	BLOK	BKCH	DAPP
KOIN		0.0	0.0	0.0	0.0	KOIN
BLCN	0.0		0.9	0.99	0.99	BLCN
BLOK	0.0	0.9		0.92	0.91	BLOK
BKCH	0.0	0.99	0.92		1.0	BKCH
DAPP	0.0	0.99	0.91	1.0		DAPP
	KOIN	BLCN	BLOK	BKCH	DAPP

Click cells to compare fundamentals

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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

DAPP	+ 1.0	BKCH
BKCH	+ 0.99	BLCN
DAPP	+ 0.99	BLCN
BKCH	+ 0.92	BLOK
DAPP	+ 0.91	BLOK
BLOK	+ 0.9	BLCN

High negative correlations

DAPP	- 0.0	KOIN
BKCH	- 0.0	KOIN
BLOK	- 0.0	KOIN
BLCN	- 0.0	KOIN

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
KOIN	0.00	0.00	0.00	0.00	0.00	0.00
BLCN	1.68	(0.40)	6.30	2.69	(4.20)	12.20
BLOK	2.20	(0.16)	0.79	4.32	(4.71)	14.52
BKCH	3.24	(0.54)	1.85	5.62	(7.82)	25.38
DAPP	3.20	(0.56)	2.08	6.12	(8.02)	24.23

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