First Trust Correlations

QDEC Etf

USD 26.62 0.04 0.15%

The current 90-days correlation between First Trust Exchange and First Trust Exchange Traded is -0.19 (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.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Exchange and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Etf

0.97	BUFR	First Trust Cboe	Pair Corr
0.96	BUFD	FT Cboe Vest	Pair Corr
0.95	PSEP	Innovator SP 500	Pair Corr
0.92	PJAN	Innovator SP 500	Pair Corr
0.96	PJUL	Innovator SP 500	Pair Corr
0.96	PAUG	Innovator Equity Power	Pair Corr
0.97	DNOV	FT Cboe Vest	Pair Corr
0.81	PMAY	Innovator SP 500	Pair Corr
0.94	PJUN	Innovator SP 500	Pair Corr
0.74	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.84	BAC	Bank of America	Pair Corr
0.76	WMT	Walmart	Pair Corr
0.82	HD	Home Depot	Pair Corr
0.63	MSFT	Microsoft	Pair Corr

Moving against First Etf

0.58	PMBS	PIMCO Mortgage Backed	Pair Corr
0.57	AMPD	Tidal Trust II	Pair Corr
0.51	FXY	Invesco CurrencyShares	Pair Corr
0.39	INOV	Innovator ETFs Trust	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr
0.59	VZ	Verizon Communications	Pair Corr
0.49	JNJ	Johnson Johnson	Pair Corr
0.42	KO	Coca Cola	Pair Corr
0.36	XOM	Exxon Mobil Corp	Pair Corr

Related Correlations Analysis

	FDEC	DDEC	FNOV	FJUN	FFEB
FDEC		1.0	0.85	0.85	0.85	FDEC
DDEC	1.0		0.83	0.84	0.85	DDEC
FNOV	0.85	0.83		1.0	0.96	FNOV
FJUN	0.85	0.84	1.0		0.97	FJUN
FFEB	0.85	0.85	0.96	0.97		FFEB
	FDEC	DDEC	FNOV	FJUN	FFEB

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FDEC	0.50	(0.06)	1.55	0.90	(1.03)	3.18
DDEC	0.41	(0.05)	2.08	0.65	(0.89)	2.61
FNOV	0.52	(0.02)	(0.10)	0.87	(1.18)	3.20
FJUN	0.52	(0.02)	(0.11)	0.82	(1.23)	3.23
FFEB	0.36	(0.01)	(0.09)	0.74	(1.11)	2.87

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