First Trust Correlations

DALI Etf

USD 25.45 0.02 0.08%

The current 90-days correlation between First Trust Dorsey and First Trust Dorsey is 0.99 (i.e., No risk reduction). 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.

First Trust Correlation With Market

Almost no diversification

The correlation between First Trust Dorsey and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Dorsey and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Dorsey. 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 economic analysis.

Moving together with First Etf

0.65	TDSC	Cabana Target Drawdown	Pair Corr
0.96	YYY	Amplify High Income	Pair Corr
0.87	FVC	First Trust Dorsey	Pair Corr
0.88	TDSB	Cabana Target Drawdown	Pair Corr
0.88	GMOM	Cambria Global Momentum	Pair Corr
0.88	AGOX	Adaptive Alpha Oppor	Pair Corr
0.98	TACK	Fairlead Tactical Sector	Pair Corr
0.97	SIXD	AIM ETF Products	Pair Corr
0.94	CEFD	ETRACS Monthly Pay	Pair Corr
0.9	EWZ	iShares MSCI Brazil	Pair Corr
0.97	QTJL	Innovator Growth Acc	Pair Corr
0.93	AVES	Avantis Emerging Markets	Pair Corr
0.97	IWP	iShares Russell Mid	Pair Corr
0.67	VCIT	Vanguard Intermediate	Pair Corr
0.8	NFLX	Netflix	Pair Corr
0.98	BAC	Bank of America Aggressive Push	Pair Corr
0.94	BA	Boeing	Pair Corr
0.95	GE	GE Aerospace	Pair Corr
0.72	HD	Home Depot	Pair Corr
0.85	TRV	The Travelers Companies	Pair Corr
0.84	MMM	3M Company	Pair Corr
0.88	IBM	International Business	Pair Corr
0.94	JPM	JPMorgan Chase	Pair Corr
0.97	CAT	Caterpillar	Pair Corr

Moving against First Etf

0.87	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.86	VXX	iPath Series B Low Volatility	Pair Corr

Related Correlations Analysis

	FV	MOAT	MODL	DWCR	DYTA	MVPA	NBOS	NITE	WDTE
FV		0.98	0.97	0.93	0.93	0.98	0.96	0.96	0.97	FV
MOAT	0.98		0.95	0.89	0.95	0.97	0.97	0.92	0.97	MOAT
MODL	0.97	0.95		0.96	0.87	0.97	0.93	0.97	0.96	MODL
DWCR	0.93	0.89	0.96		0.79	0.93	0.88	0.95	0.9	DWCR
DYTA	0.93	0.95	0.87	0.79		0.91	0.97	0.82	0.94	DYTA
MVPA	0.98	0.97	0.97	0.93	0.91		0.95	0.96	0.97	MVPA
NBOS	0.96	0.97	0.93	0.88	0.97	0.95		0.87	0.96	NBOS
NITE	0.96	0.92	0.97	0.95	0.82	0.96	0.87		0.92	NITE
WDTE	0.97	0.97	0.96	0.9	0.94	0.97	0.96	0.92		WDTE
	FV	MOAT	MODL	DWCR	DYTA	MVPA	NBOS	NITE	WDTE

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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
FV	1.13	0.03	0.02	0.05	1.82	(1.10)	2.54	(2.44)	12.72
MOAT	1.21	(0.01)	0.00	0.02	1.77	(1.36)	2.23	(2.53)	12.99
MODL	1.03	0.08	0.04	0.10	1.60	(1.03)	2.15	(2.35)	11.71
DWCR	1.05	0.09	0.04	0.12	1.76	(0.98)	2.16	(2.42)	12.80
DYTA	0.36	(0.01)	(0.03)	0.00	0.62	(0.36)	0.67	(1.20)	4.25
MVPA	1.43	0.10	0.05	0.11	1.99	(1.57)	2.94	(2.86)	14.74
NBOS	0.64	0.02	0.01	0.05	1.27	(0.62)	1.15	(1.60)	7.25
NITE	1.84	0.18	0.07	0.14	2.37	(1.90)	3.60	(3.51)	19.08
WDTE	0.84	0.04	0.01	0.09	1.98	(0.68)	1.20	(2.03)	6.24

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