First Trust Correlations

LGOV Etf

USD 21.20 0.02 0.09%

The current 90-days correlation between First Trust Long and Vanguard Long Term Treasury is -0.02 (i.e., Good 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

Average diversification

The correlation between First Trust Long and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Long 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 Long. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with First Etf

0.95	TLT	iShares 20 Year	Pair Corr
0.99	IEF	iShares 7 10	Pair Corr
0.95	SPTL	SPDR Barclays Long	Pair Corr
0.96	TLH	iShares 10 20	Pair Corr
0.98	EDV	Vanguard Extended	Pair Corr
0.95	GOVZ	iShares 25 Year	Pair Corr
0.99	SCHQ	Schwab Long Term	Pair Corr
0.79	BNDD	Quadratic Deflation ETF	Pair Corr
0.98	TYA	Simplify Exchange Traded	Pair Corr
1.0	BND	Vanguard Total Bond	Pair Corr
0.83	VEA	Vanguard FTSE Developed	Pair Corr
0.7	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.68	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.62	PFE	Pfizer Inc Buyout Trend	Pair Corr
0.91	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against First Etf

0.58	VTI	Vanguard Total Stock	Pair Corr
0.58	SPY	SPDR SP 500	Pair Corr
0.58	IVV	iShares Core SP	Pair Corr
0.58	VO	Vanguard Mid Cap	Pair Corr
0.56	VUG	Vanguard Growth Index	Pair Corr
0.53	VB	Vanguard Small Cap	Pair Corr
0.46	VTV	Vanguard Value Index	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.72	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.72	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.67	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.58	HPQ	HP Inc	Pair Corr
0.52	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.46	DIS	Walt Disney	Pair Corr
0.41	WMT	Walmart Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	-0.43	-0.25	0.54	0.31	0.65	0.42	-0.36	-0.28	META
MSFT	0.56		-0.57	-0.08	0.46	0.14	0.39	0.26	0.02	-0.8	MSFT
UBER	-0.43	-0.57		0.16	-0.72	0.1	-0.66	-0.5	0.43	0.52	UBER
F	-0.25	-0.08	0.16		0.14	-0.46	0.19	0.45	-0.27	0.3	F
T	0.54	0.46	-0.72	0.14		-0.3	0.89	0.85	-0.71	-0.34	T
A	0.31	0.14	0.1	-0.46	-0.3		-0.26	-0.47	0.57	-0.02	A
CRM	0.65	0.39	-0.66	0.19	0.89	-0.26		0.9	-0.82	-0.19	CRM
JPM	0.42	0.26	-0.5	0.45	0.85	-0.47	0.9		-0.85	-0.1	JPM
MRK	-0.36	0.02	0.43	-0.27	-0.71	0.57	-0.82	-0.85		-0.1	MRK
XOM	-0.28	-0.8	0.52	0.3	-0.34	-0.02	-0.19	-0.1	-0.1		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	CRM
CRM	+ 0.89	T
JPM	+ 0.85	T
CRM	+ 0.65	META
MRK	+ 0.57	A
MSFT	+ 0.56	META

High negative correlations

MRK	- 0.85	JPM
MRK	- 0.82	CRM
XOM	- 0.8	MSFT
T	- 0.72	UBER
MRK	- 0.71	T
CRM	- 0.66	UBER

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
META	1.15	0.20	0.12	0.49	1.26	(1.30)	3.22	(1.87)	8.02
MSFT	0.85	0.05	0.01	0.15	1.45	(0.81)	1.83	(1.57)	8.14
UBER	1.75	(0.27)	0.00	(0.92)	0.00	0.00	2.67	(5.35)	20.41
F	1.41	(0.08)	0.00	(0.37)	0.00	0.00	2.53	(2.90)	11.21
T	1.02	0.08	0.03	0.36	1.18	(1.10)	2.36	(1.99)	6.74
A	1.22	0.00	(0.03)	0.04	1.47	(1.32)	2.71	(2.41)	9.02
CRM	1.50	0.41	0.28	0.34	1.11	(1.75)	3.59	(1.93)	13.87
JPM	1.00	0.27	0.17	(1.00)	0.90	(1.19)	1.73	(1.42)	15.87
MRK	0.92	(0.25)	0.00	(1.41)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.91	(0.07)	0.00	(0.20)	0.00	0.00	1.83	(2.14)	6.06

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