First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange Traded
YMAR Etf  USD 24.13  0.21  0.86%   
The current 90-days correlation between First Trust Exchange and First Trust Exchange Traded 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

Very weak diversification

The correlation between First Trust Exchange Traded and DJI is 0.54 (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

  0.99INOV Innovator ETFs TrustPairCorr
  0.91FXY Invesco CurrencySharesPairCorr
  0.91PMBS PIMCO Mortgage BackedPairCorr
  0.73AMPD Tidal Trust IIPairCorr
  0.9KO Coca Cola Aggressive PushPairCorr
  0.67XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.82TRV The Travelers CompaniesPairCorr
  0.74MMM 3M CompanyPairCorr
  0.93JNJ Johnson JohnsonPairCorr
  0.88VZ Verizon CommunicationsPairCorr
  0.76IBM International BusinessPairCorr
  0.68INTC IntelPairCorr

Moving against First Etf

  0.84WGMI Valkyrie Bitcoin MinersPairCorr
  0.56MRK Merck CompanyPairCorr
  0.38DNOV FT Cboe VestPairCorr
  0.37BUFR First Trust CboePairCorr
  0.36BUFD FT Cboe VestPairCorr
  0.35PJUL Innovator SP 500PairCorr
  0.32PAUG Innovator Equity PowerPairCorr
  0.31PSEP Innovator SP 500PairCorr
  0.8MSFT MicrosoftPairCorr
  0.71AA Alcoa CorpPairCorr
  0.65CAT CaterpillarPairCorr
  0.56HD Home DepotPairCorr
  0.5BAC Bank of America Aggressive PushPairCorr

Related Correlations Analysis

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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   
YSEP
+ 1.0
YJUN
YJUN
+ 0.99
YDEC
YSEP
+ 0.99
YDEC
BGLD
+ 0.97
YSEP
BGLD
+ 0.96
YDEC
BGLD
+ 0.96
YJUN
  
High negative correlations   
QDEC
- 0.46
YJUN
QDEC
- 0.44
YSEP
BGLD
- 0.4
QDEC
QDEC
- 0.39
YDEC

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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