First Trust Correlations
FAB Etf | USD 85.31 0.86 1.02% |
The current 90-days correlation between First Trust Multi and First Trust Multi is 0.74 (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 0.84 (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.
Moving together with First Etf
0.98 | SDY | SPDR SP Dividend | PairCorr |
0.99 | IWS | iShares Russell Mid | PairCorr |
0.95 | SPYD | SPDR Portfolio SP | PairCorr |
0.99 | COWZ | Pacer Cash Cows Low Volatility | PairCorr |
0.99 | DON | WisdomTree MidCap | PairCorr |
0.98 | RPV | Invesco SP 500 | PairCorr |
0.96 | PEY | Invesco High Yield | PairCorr |
0.98 | PKW | Invesco BuyBack Achievers | PairCorr |
0.99 | ONEY | SPDR Russell 1000 | PairCorr |
0.96 | DHF | BNY Mellon High | PairCorr |
0.94 | MAGS | Roundhill Magnificent | PairCorr |
0.89 | ARP | Advisors Inner Circle | PairCorr |
0.95 | PXMV | Invesco SP MidCap | PairCorr |
0.65 | IGA | Voya Global Advantage | PairCorr |
0.96 | SEMI | Columbia Seligman | PairCorr |
0.95 | MPRO | Northern Lights | PairCorr |
0.86 | Z | Zillow Group Class Earnings Call This Week | PairCorr |
0.62 | DBJP | Xtrackers MSCI Japan | PairCorr |
0.82 | GRW | TCW Compounders ETF | PairCorr |
0.88 | GBTC | Grayscale Bitcoin Trust | PairCorr |
0.94 | EWQ | iShares MSCI France | PairCorr |
0.96 | VGT | Vanguard Information | PairCorr |
0.93 | IXP | iShares Global Comm | PairCorr |
0.97 | SSDRF | SSgA SPDR ETFs | PairCorr |
0.99 | SPGP | Invesco SP 500 | PairCorr |
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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
FAD | 0.76 | 0.09 | 0.10 | 0.30 | 0.50 | 1.88 | 4.75 | |||
FTA | 0.73 | 0.01 | 0.00 | 0.22 | 0.68 | 1.87 | 5.35 | |||
FYX | 0.98 | 0.05 | 0.08 | 0.25 | 0.88 | 2.64 | 6.51 | |||
FEX | 0.63 | 0.05 | 0.04 | 0.26 | 0.47 | 1.75 | 4.85 | |||
FNX | 0.80 | 0.03 | 0.05 | 0.23 | 0.71 | 2.09 | 6.03 |