First Trust Correlations

Etfs . USA . 
Etf . First Trust NASDAQ
TDIV Etf  USD 77.27  0.33  0.43%   
The current 90-days correlation between First Trust NASDAQ and First Trust NASDAQ 100 Technology is 0.87 (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

Very weak diversification

The correlation between First Trust NASDAQ and DJI is 0.4 (i.e., Very 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 World Market Map 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 gross domestic product.

Moving together with First Etf

  0.62VGT Vanguard Information Sell-off TrendPairCorr
  0.69XLK Technology Select Sector Sell-off TrendPairCorr
  0.69IYW iShares Technology ETFPairCorr
  0.72SMH VanEck Semiconductor ETFPairCorr
  0.75SOXX iShares Semiconductor ETFPairCorr
  0.71CIBR First Trust NASDAQPairCorr
  0.61FTEC Fidelity MSCI Information Sell-off TrendPairCorr
  0.68FDN First Trust DowPairCorr
  0.81IGM iShares Expanded TechPairCorr
  0.71ARKW ARK Next GenerationPairCorr
  0.91BST BlackRock Science TechPairCorr

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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