First Trust Correlations

FBT Etf

USD 212.13 0.77 0.36%

The current 90-days correlation between First Trust NYSE and First Trust NASDAQ 100 is 0.51 (i.e., Very weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust NYSE and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NYSE 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 NYSE. 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 labor statistics.

Moving together with First Etf

0.95	XLV	Health Care Select	Pair Corr
0.97	VHT	Vanguard Health Care	Pair Corr
0.99	IBB	iShares Biotechnology ETF	Pair Corr
0.96	XBI	SPDR SP Biotech	Pair Corr
0.81	IHI	iShares Medical Devices	Pair Corr
0.94	IXJ	iShares Global Healthcare	Pair Corr
0.96	IYH	iShares Healthcare ETF	Pair Corr
0.97	FHLC	Fidelity MSCI Health	Pair Corr
0.88	JPST	JPMorgan Ultra Short	Pair Corr
0.79	FB	ProShares Trust ProShares	Pair Corr
0.78	GSX	Tradr 2X Long	Pair Corr
0.71	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.69	PDBC	Invesco Optimum Yield	Pair Corr
0.76	FUSI	American Century ETF	Pair Corr
0.77	SCHD	Schwab Dividend Equity	Pair Corr
0.75	PAPI	Morgan Stanley ETF	Pair Corr
0.76	FIVA	Fidelity International	Pair Corr
0.79	HYLB	Xtrackers USD High	Pair Corr
0.8	MKTN	Federated Hermes ETF	Pair Corr
0.61	HEGD	Swan Hedged Equity	Pair Corr
0.65	PQJL	PGIM Nasdaq 100	Pair Corr
0.63	FALN	iShares Fallen Angels	Pair Corr
0.82	GQI	Natixis ETF Trust	Pair Corr
0.65	XLF	Financial Select Sector	Pair Corr
0.7	CEFZ	RiverNorth Active Income	Pair Corr
0.62	PBDC	Putnam ETF Trust	Pair Corr

Moving against First Etf

0.71	VXX	iPath Series B	Pair Corr
0.71	IRE	Tidal Trust II Trending	Pair Corr
0.36	IHF	iShares Healthcare	Pair Corr

Related Correlations Analysis

	QQXT	ILCV	CGIE	LGLV	FVAL	GPIX	OIH	FTA	FNX	HFXI
QQXT		0.81	0.79	0.86	0.85	0.84	0.57	0.88	0.91	0.8	QQXT
ILCV	0.81		0.79	0.76	0.95	0.9	0.85	0.96	0.79	0.86	ILCV
CGIE	0.79	0.79		0.84	0.88	0.87	0.76	0.86	0.89	0.98	CGIE
LGLV	0.86	0.76	0.84		0.74	0.69	0.6	0.88	0.87	0.84	LGLV
FVAL	0.85	0.95	0.88	0.74		0.97	0.8	0.93	0.84	0.92	FVAL
GPIX	0.84	0.9	0.87	0.69	0.97		0.8	0.86	0.85	0.89	GPIX
OIH	0.57	0.85	0.76	0.6	0.8	0.8		0.8	0.67	0.82	OIH
FTA	0.88	0.96	0.86	0.88	0.93	0.86	0.8		0.88	0.91	FTA
FNX	0.91	0.79	0.89	0.87	0.84	0.85	0.67	0.88		0.87	FNX
HFXI	0.8	0.86	0.98	0.84	0.92	0.89	0.82	0.91	0.87		HFXI
	QQXT	ILCV	CGIE	LGLV	FVAL	GPIX	OIH	FTA	FNX	HFXI

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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
QQXT	0.51	(0.03)	(0.09)	0.05	0.56	(0.57)	1.02	(0.92)	2.82
ILCV	0.49	0.04	0.03	0.14	0.31	(0.56)	1.17	(0.82)	2.52
CGIE	0.58	0.04	0.03	0.15	0.54	(0.63)	1.26	(1.18)	2.46
LGLV	0.46	0.00	(0.07)	0.09	0.49	(0.49)	0.96	(0.89)	2.29
FVAL	0.53	0.02	0.01	0.12	0.55	(0.55)	1.22	(1.13)	2.75
GPIX	0.44	0.01	(0.04)	0.10	0.52	(0.43)	0.98	(0.92)	2.75
OIH	1.37	0.36	0.20	0.47	1.37	(1.51)	3.94	(2.90)	9.53
FTA	0.57	0.04	0.03	0.15	0.48	(0.62)	1.23	(1.06)	3.31
FNX	0.79	(0.01)	0.01	0.08	0.81	(0.87)	1.52	(1.47)	3.85
HFXI	0.47	0.10	0.11	0.24	0.34	(0.56)	1.16	(1.06)	2.50

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