First Trust Correlations

YMAR Etf

USD 23.75 0.02 0.08%

The current 90-days correlation between First Trust Exchange and First Trust Exchange Traded is 0.88 (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 Exchange Traded and DJI is 0.42 (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 Exchange Traded and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Etf

0.99	INOV	Innovator ETFs Trust	Pair Corr
0.75	BUFR	First Trust Cboe	Pair Corr
0.75	BUFD	FT Cboe Vest	Pair Corr
0.76	PSEP	Innovator SP 500	Pair Corr
0.64	PJAN	Innovator SP 500	Pair Corr
0.75	PJUL	Innovator SP 500	Pair Corr
0.76	PAUG	Innovator Equity Power	Pair Corr
0.72	DNOV	FT Cboe Vest	Pair Corr
0.8	PMAY	Innovator SP 500	Pair Corr
0.79	PJUN	Innovator SP 500	Pair Corr
0.7	BND	Vanguard Total Bond	Pair Corr
0.64	VTV	Vanguard Value Index	Pair Corr
0.98	VEA	Vanguard FTSE Developed	Pair Corr
0.69	RXI	iShares Global Consumer	Pair Corr
0.93	T	ATT Inc Aggressive Push	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr
0.79	GE	GE Aerospace	Pair Corr
0.75	MCD	McDonalds	Pair Corr
0.71	MMM	3M Company	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr
0.76	WMT	Walmart Aggressive Push	Pair Corr

Moving against First Etf

0.77	MRK	Merck Company Aggressive Push	Pair Corr
0.46	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	YDEC	YJUN	YSEP	QDEC	BGLD
YDEC		0.89	0.86	0.29	0.61	YDEC
YJUN	0.89		0.99	0.54	0.87	YJUN
YSEP	0.86	0.99		0.57	0.91	YSEP
QDEC	0.29	0.54	0.57		0.62	QDEC
BGLD	0.61	0.87	0.91	0.62		BGLD
	YDEC	YJUN	YSEP	QDEC	BGLD

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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
YDEC	0.37	0.03	0.08	0.11	0.57	(0.37)	0.74	(0.73)	3.45
YJUN	0.37	0.06	0.15	0.18	0.36	(0.42)	0.81	(0.78)	2.33
YSEP	0.29	0.05	0.16	0.22	0.30	(0.33)	0.64	(0.67)	1.91
QDEC	0.40	0.01	0.03	0.00	0.65	(0.38)	0.94	(1.00)	3.31
BGLD	0.49	0.10	0.13	1.44	0.69	(0.48)	0.95	(1.07)	3.63

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