First Trust Correlations

FCT Etf

USD 10.23 0.11 1.09%

The current 90-days correlation between First Trust Senior and Blackstone Gso Long is 0.43 (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 Senior 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 Senior 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 Senior. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

0.84	PSLV	Sprott Physical Silver	Pair Corr
0.89	SPPP	Sprott Physical Platinum	Pair Corr
0.94	GMET	VanEck Vectors ETF	Pair Corr
0.96	SPIN	Spine Injury Solutions	Pair Corr
0.63	CMCI	VanEck CMCI Commodity	Pair Corr
0.73	MRAL	GraniteShares 2x Long	Pair Corr
0.92	ITDD	iShares Trust	Pair Corr
0.87	VPL	Vanguard FTSE Pacific	Pair Corr
0.76	NBDS	Neuberger Berman Dis	Pair Corr
0.91	VOT	Vanguard Mid Cap	Pair Corr
0.93	NUGO	Nuveen Growth Opport	Pair Corr
0.65	USO	United States Oil	Pair Corr
0.84	BPI	Grayscale Funds Trust	Pair Corr
0.85	OGIG	OShares Global Internet Low Volatility	Pair Corr
0.77	HEFA	iShares Currency Hedged	Pair Corr
0.93	TEK	BlackRock ETF Trust	Pair Corr
0.95	HOOX	Defiance Daily Target	Pair Corr
0.92	AVGV	American Century ETF	Pair Corr
0.81	IYR	iShares Real Estate	Pair Corr
0.94	RSSY	Tidal Trust II	Pair Corr
0.91	TMFC	Motley Fool 100 Low Volatility	Pair Corr
0.86	FORH	Formidable ETF	Pair Corr
0.92	IJS	iShares SP Small	Pair Corr
0.91	QQQM	Invesco NASDAQ 100 Sell-off Trend	Pair Corr
0.89	SHE	SPDR SSGA Gender	Pair Corr
0.95	BXMX	Nuveen SP 500	Pair Corr
0.93	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.93	GRPM	Invesco SP MidCap	Pair Corr
0.91	BSCW	Invesco Exchange Traded	Pair Corr
0.9	CRPT	First Trust SkyBridge	Pair Corr
0.96	OARK	Tidal Trust II	Pair Corr
0.94	FLXR	TCW ETF Trust	Pair Corr
0.86	IG	Principal Exchange	Pair Corr
0.81	IMSXF	iShares V Public	Pair Corr
0.9	DEUS	Xtrackers Russell	Pair Corr
0.87	FMCE	Northern Lights	Pair Corr
0.77	MEDX	Horizon Kinetics Medical	Pair Corr

Moving against First Etf

0.67

WNTR

Tidal Trust II

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.57	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.59	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.54	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.73	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.16	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.63	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.08	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.68	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.56	MRK
XOM	0.57	0.59	0.54	0.73	0.16	0.63	-0.08	0.68	0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.08	CRM

First Trust Competition 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
META	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.08	0.14	0.00	(9.00)	1.19	(1.12)	2.40	(2.51)	5.84

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