First Trust Correlations

DTRE Etf

USD 40.31 0.48 1.21%

The current 90-days correlation between First Trust Exchange and FlexShares Global Quality 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.

First Trust Correlation With Market

Very good diversification

The correlation between First Trust Exchange Traded and DJI is -0.22 (i.e., Very good 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.

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 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 metropolitan statistical area.

Moving together with First Etf

0.96	REET	iShares Global REIT	Pair Corr
0.97	RWO	SPDR Dow Jones	Pair Corr
0.83	HAUZ	Xtrackers International	Pair Corr
0.86	RWX	SPDR Dow Jones	Pair Corr
0.91	GQRE	FlexShares Global Quality	Pair Corr
0.96	AVRE	Avantis Real Estate	Pair Corr
0.85	IFGL	iShares International	Pair Corr
0.8	WTRE	WisdomTree New Economy	Pair Corr
0.76	VTI	Vanguard Total Stock	Pair Corr
0.63	AA	Alcoa Corp	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.73	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.78	DIS	Walt Disney	Pair Corr
0.78	BAC	Bank of America	Pair Corr
0.76	IBM	International Business Earnings Call This Week	Pair Corr
0.75	GE	GE Aerospace Earnings Call Tomorrow	Pair Corr
0.72	BA	Boeing Earnings Call Next Week	Pair Corr
0.71	PFE	Pfizer Inc	Pair Corr

Moving against First Etf

0.38

Coca Cola Earnings Call Tomorrow

Pair Corr

Related Correlations Analysis

	GQRE	RDOG	WTRE	DDIV	FLHY
GQRE		0.96	0.94	0.95	0.95	GQRE
RDOG	0.96		0.94	0.9	0.92	RDOG
WTRE	0.94	0.94		0.93	0.97	WTRE
DDIV	0.95	0.9	0.93		0.95	DDIV
FLHY	0.95	0.92	0.97	0.95		FLHY
	GQRE	RDOG	WTRE	DDIV	FLHY

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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
GQRE	0.55	0.12	(0.03)	(1.78)	0.61	(0.58)	1.39	(1.30)	3.89
RDOG	0.71	0.12	(0.03)	(1.17)	0.80	(0.75)	1.60	(1.55)	4.70
WTRE	0.80	0.30	0.14	(1.60)	0.71	(0.91)	1.86	(1.72)	4.66
DDIV	0.66	0.16	0.01	(1.23)	0.72	(0.69)	1.63	(1.20)	4.41
FLHY	0.20	0.08	(0.23)	(1.32)	0.00	(0.25)	0.48	(0.33)	1.50

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