First Trust Correlations

FAN Etf

USD 19.54 0.21 1.09%

The current 90-days correlation between First Trust Global and Invesco Global Clean is 0.75 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Weak diversification

The correlation between First Trust Global and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Global 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 Global. 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

0.96	ICLN	iShares Global Clean	Pair Corr
0.99	XT	iShares Exponential	Pair Corr
0.88	TAN	Invesco Solar ETF	Pair Corr
0.93	QCLN	First Trust NASDAQ	Pair Corr
0.94	BOTZ	Global X Robotics	Pair Corr
0.94	DRIV	Global X Autonomous	Pair Corr
0.89	ACES	ALPS Clean Energy	Pair Corr
0.93	IPAY	Amplify ETF Trust	Pair Corr
0.9	LENS	Sarmaya Thematic ETF	Pair Corr
0.98	MAPP	Harbor ETF Trust	Pair Corr
0.76	PRME	Prime Medicine, Common	Pair Corr
0.9	SNPD	DBX ETF Trust	Pair Corr
0.96	EVUS	iShares ESG Aware	Pair Corr
0.85	XOP	SPDR SP Oil	Pair Corr
0.61	CVX	Chevron Corp	Pair Corr

Moving against First Etf

0.55	JUNE	Junee Limited Ordinary Symbol Change	Pair Corr
0.39	MSOS	AdvisorShares Pure	Pair Corr
0.39	WNTR	Tidal Trust II	Pair Corr
0.59	MCD	McDonalds	Pair Corr
0.43	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	PBD	TAN	QCLN	PBW	ICLN
PBD		0.95	0.97	0.99	0.96	PBD
TAN	0.95		0.96	0.93	0.96	TAN
QCLN	0.97	0.96		0.97	0.97	QCLN
PBW	0.99	0.93	0.97		0.94	PBW
ICLN	0.96	0.96	0.97	0.94		ICLN
	PBD	TAN	QCLN	PBW	ICLN

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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
PBD	0.89	0.33	0.22	0.78	0.51	(1.14)	2.19	(1.56)	5.57
TAN	1.75	0.41	0.09	0.99	2.59	(1.75)	4.56	(2.48)	14.27
QCLN	1.53	0.33	0.16	0.64	1.34	(1.77)	3.24	(2.35)	10.21
PBW	1.81	0.59	0.29	0.95	1.43	(2.27)	3.92	(2.33)	9.98
ICLN	0.92	0.23	0.06	1.00	1.06	(1.03)	1.86	(1.56)	8.12

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