First Trust Correlations

Etfs . USA . 
Etf . First Trust NASDAQ 100
QQXT Etf  USD 97.46  0.00  0.00%   
The current 90-days correlation between First Trust NASDAQ and First Trust NASDAQ 100 is 0.83 (i.e., Very poor 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

Poor diversification

The correlation between First Trust NASDAQ 100 and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NASDAQ 100 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 NASDAQ 100. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with First Etf

  0.98VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.97SPY SPDR SP 500 Sell-off TrendPairCorr
  0.97IVV iShares Core SP Sell-off TrendPairCorr
  0.9VIG Vanguard DividendPairCorr
  0.97VV Vanguard Large CapPairCorr
  0.95RSP Invesco SP 500PairCorr
  0.98IWB iShares Russell 1000PairCorr
  0.97ESGU iShares ESG AwarePairCorr
  0.98DFAC Dimensional Core EquityPairCorr
  0.97SPLG SPDR Portfolio SP Sell-off TrendPairCorr
  0.95ARKW ARK Next GenerationPairCorr
  0.87WTMF WisdomTree ManagedPairCorr
  0.89EWC iShares MSCI CanadaPairCorr
  0.84BST BlackRock Science TechPairCorr
  0.89DIS Walt DisneyPairCorr
  0.93JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.73TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.91WMT WalmartPairCorr
  0.93BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.73AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.85T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.96AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.85CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr

Moving against First Etf

  0.57IRET Tidal Trust IIPairCorr
  0.83PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.82JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.8KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.33DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr

Related Correlations Analysis

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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.

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