First Trust Correlations

UCON Etf

USD 24.82 0.01 0.04%

The current 90-days correlation between First Trust TCW and First Trust TCW is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust TCW moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Good diversification

The correlation between First Trust TCW and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust TCW 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 TCW. 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

0.93	OBND	SSGA Active Trust	Pair Corr
0.91	SSFI	Strategy Shares	Pair Corr
0.79	GLDB	Strategy Shares Gold Low Volatility	Pair Corr
0.64	HYIN	WisdomTree Alternative	Pair Corr
0.93	FXY	Invesco CurrencyShares	Pair Corr
0.68	AMPD	Tidal Trust II	Pair Corr
0.76	MCD	McDonalds	Pair Corr
0.9	T	ATT Inc Earnings Call This Week	Pair Corr
0.85	TRV	The Travelers Companies	Pair Corr
0.86	KO	Coca Cola	Pair Corr
0.93	JNJ	Johnson Johnson	Pair Corr
0.64	GE	GE Aerospace	Pair Corr

Moving against First Etf

0.89	GRI	GRI Bio Earnings Call This Week	Pair Corr
0.85	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.69	HPQ	HP Inc	Pair Corr
0.57	BAC	Bank of America Sell-off Trend	Pair Corr
0.54	AMAX	Starboard Investment	Pair Corr
0.52	RINF	ProShares Inflation	Pair Corr
0.82	AA	Alcoa Corp	Pair Corr
0.8	MSFT	Microsoft	Pair Corr
0.61	AXP	American Express Sell-off Trend	Pair Corr
0.52	HD	Home Depot	Pair Corr
0.49	BA	Boeing	Pair Corr
0.45	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	FIXD	LMBS	FTSM	FTSL	HYLS
FIXD		0.97	0.81	0.34	0.56	FIXD
LMBS	0.97		0.91	0.46	0.59	LMBS
FTSM	0.81	0.91		0.68	0.6	FTSM
FTSL	0.34	0.46	0.68		0.72	FTSL
HYLS	0.56	0.59	0.6	0.72		HYLS
	FIXD	LMBS	FTSM	FTSL	HYLS

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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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FIXD	0.28	0.00	0.23	(0.10)	0.31	(0.29)	0.57	(0.49)	1.53
LMBS	0.10	0.01	0.66	(0.43)	0.00	(0.12)	0.24	(0.17)	0.54
FTSM	0.02	0.00	2.60	0.00	0.00	(0.04)	0.07	(0.02)	0.10
FTSL	0.07	0.00	0.73	(0.16)	0.00	(0.09)	0.13	(0.15)	0.81
HYLS	0.18	0.00	0.24	(0.05)	0.24	(0.19)	0.41	(0.36)	1.17

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