First Trust Correlations

Etfs . USA . 
Etf . First Trust Multi
FAB Etf  USD 82.61  0.19  0.23%   
The current 90-days correlation between First Trust Multi and First Trust Multi is 0.76 (i.e., 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 poor diversification

The correlation between First Trust Multi and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Multi 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 Multi. 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

  0.99VOE Vanguard Mid CapPairCorr
  0.98SDY SPDR SP DividendPairCorr
  0.99IWS iShares Russell MidPairCorr
  0.95SPYD SPDR Portfolio SPPairCorr
  0.99COWZ Pacer Cash CowsPairCorr
  0.99DON WisdomTree MidCapPairCorr
  0.99RPV Invesco SP 500PairCorr
  0.97PEY Invesco High YieldPairCorr
  0.98PKW Invesco BuyBack AchieversPairCorr
  0.99ONEY SPDR Russell 1000PairCorr
  0.65PMBS PIMCO Mortgage BackedPairCorr
  0.96SIXD AIM ETF ProductsPairCorr
  0.9PFFL ETRACS 2xMonthly PayPairCorr
  0.95CEFD ETRACS Monthly PayPairCorr
  1.0VFVA Vanguard Value FactorPairCorr
  0.87NFLX NetflixPairCorr
  0.8KWEB KraneShares CSI China Aggressive PushPairCorr
  0.95CGGO Capital Group GlobalPairCorr
  0.68EUSB iShares TrustPairCorr
  0.95QTOC Innovator ETFs TrustPairCorr
  0.82VBF Invesco Van KampenPairCorr
  0.91PFUT Putnam Sustainable FuturePairCorr
  0.73HIDE Alpha Architect HighPairCorr
  0.94MYMF SPDR SSGA My2026PairCorr
  0.97BUFD FT Cboe VestPairCorr
  0.96SRLN SPDR Blackstone SeniorPairCorr
  0.82KGRN KraneShares MSCI ChinaPairCorr
  0.86VABS Virtus Newfleet ABSMBSPairCorr
  0.85SPIB SPDR Barclays IntermPairCorr

Moving against First Etf

  0.96VXX iPath Series BPairCorr
  0.96VIXY ProShares VIX ShortPairCorr
  0.81YCL ProShares Ultra YenPairCorr

Related Correlations Analysis

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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.

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