First Trust Correlations

ROBT Etf

USD 44.04 0.21 0.47%

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 Nasdaq and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Nasdaq 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. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with First Etf

0.61	VGT	Vanguard Information	Pair Corr
0.68	XLK	Technology Select Sector	Pair Corr
0.72	IYW	iShares Technology ETF	Pair Corr
0.72	CIBR	First Trust NASDAQ	Pair Corr
0.61	FTEC	Fidelity MSCI Information	Pair Corr
0.85	IGV	iShares Expanded Tech	Pair Corr
0.87	FDN	First Trust Dow	Pair Corr
0.89	IGM	iShares Expanded Tech	Pair Corr
0.89	ARKW	ARK Next Generation	Pair Corr
0.8	EWC	iShares MSCI Canada	Pair Corr
0.79	BST	BlackRock Science Tech	Pair Corr
0.69	WMT	Walmart Aggressive Push	Pair Corr

Related Correlations Analysis

	IRBO	ROBO	THNQ	BOTZ	UBOT
IRBO		0.0	0.0	0.0	0.0	IRBO
ROBO	0.0		0.89	0.88	0.63	ROBO
THNQ	0.0	0.89		0.84	0.64	THNQ
BOTZ	0.0	0.88	0.84		0.78	BOTZ
UBOT	0.0	0.63	0.64	0.78		UBOT
	IRBO	ROBO	THNQ	BOTZ	UBOT

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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

THNQ	+ 0.89	ROBO
BOTZ	+ 0.88	ROBO
BOTZ	+ 0.84	THNQ
UBOT	+ 0.78	BOTZ
UBOT	+ 0.64	THNQ
UBOT	+ 0.63	ROBO

High negative correlations

UBOT	- 0.0	IRBO
BOTZ	- 0.0	IRBO
THNQ	- 0.0	IRBO
ROBO	- 0.0	IRBO

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
IRBO	0.00	0.00	0.00	0.00	0.00	0.00
ROBO	0.89	(0.01)	(0.04)	1.64	(1.86)	6.54
THNQ	1.13	0.00	(0.03)	2.29	(2.13)	6.88
BOTZ	1.14	(0.05)	(0.12)	2.12	(2.01)	7.17
UBOT	2.27	(0.13)	(0.14)	3.95	(4.06)	14.84

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