First Trust Correlations

FDTS Etf

USD 58.39 0.23 0.40%

The current 90-days correlation between First Trust Developed and MicroSectors Travel 3X is 0.52 (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

Poor diversification

The correlation between First Trust Developed and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Developed 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 Developed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with First Etf

0.95	FNDC	Schwab Fundamental	Pair Corr
0.96	AVDV	Avantis International	Pair Corr
0.84	DLS	WisdomTree International	Pair Corr
0.95	PDN	Invesco FTSE RAFI	Pair Corr
0.96	DISV	Dimensional ETF Trust	Pair Corr
0.95	ISVL	iShares International	Pair Corr
0.95	DIM	WisdomTree International	Pair Corr
0.91	DDLS	WisdomTree Dynamic	Pair Corr
0.89	FYLD	Cambria Foreign Shar	Pair Corr
0.9	CGV	Two Roads Shared	Pair Corr
0.72	SIXD	AIM ETF Products	Pair Corr
0.72	FIAX	Nicholas Fixed Income	Pair Corr
0.93	FELV	Fidelity Covington Trust	Pair Corr
0.75	SCHX	Schwab Large Cap	Pair Corr
0.66	IYJ	iShares Industrials ETF	Pair Corr
0.88	BFEB	Innovator SP 500	Pair Corr
0.75	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.62	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.78	WMT	Walmart Common Stock	Pair Corr
0.76	BAC	Bank of America	Pair Corr
0.66	MRK	Merck Company Aggressive Push	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr

Moving against First Etf

0.87	VXX	iPath Series B	Pair Corr
0.87	VIXY	ProShares VIX Short	Pair Corr
0.74	VXZ	iPath Series B	Pair Corr
0.73	VIXM	ProShares VIX Mid	Pair Corr
0.41	YCL	ProShares Ultra Yen	Pair Corr
0.56	PG	Procter Gamble	Pair Corr
0.36	HD	Home Depot	Pair Corr

Related Correlations Analysis

	FLYU	EMIF	JHDV	BDVG	NBCE	CLIX	HAUS	RFEU	EAOK	EUDV
FLYU		-0.16	0.48	0.52	0.14	0.33	-0.02	0.03	0.16	0.52	FLYU
EMIF	-0.16		0.27	0.54	0.16	0.19	0.72	0.75	0.73	-0.52	EMIF
JHDV	0.48	0.27		0.76	0.65	0.69	0.01	0.6	0.68	0.39	JHDV
BDVG	0.52	0.54	0.76		0.38	0.4	0.45	0.75	0.8	0.2	BDVG
NBCE	0.14	0.16	0.65	0.38		0.73	-0.24	0.43	0.33	0.11	NBCE
CLIX	0.33	0.19	0.69	0.4	0.73		-0.07	0.3	0.32	0.08	CLIX
HAUS	-0.02	0.72	0.01	0.45	-0.24	-0.07		0.42	0.4	-0.3	HAUS
RFEU	0.03	0.75	0.6	0.75	0.43	0.3	0.42		0.91	-0.01	RFEU
EAOK	0.16	0.73	0.68	0.8	0.33	0.32	0.4	0.91		0.0	EAOK
EUDV	0.52	-0.52	0.39	0.2	0.11	0.08	-0.3	-0.01	0.0		EUDV
	FLYU	EMIF	JHDV	BDVG	NBCE	CLIX	HAUS	RFEU	EAOK	EUDV

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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

EAOK	+ 0.91	RFEU
EAOK	+ 0.8	BDVG
BDVG	+ 0.76	JHDV
RFEU	+ 0.75	EMIF
RFEU	+ 0.75	BDVG
EAOK	+ 0.73	EMIF

High negative correlations

EUDV	- 0.52	EMIF
EUDV	- 0.3	HAUS
HAUS	- 0.24	NBCE
EMIF	- 0.16	FLYU
HAUS	- 0.07	CLIX
HAUS	- 0.02	FLYU

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
FLYU	3.23	(0.14)	0.01	0.02	4.52	(3.06)	6.14	(8.15)	17.35
EMIF	0.57	0.04	0.01	0.12	0.66	(0.60)	1.46	(1.46)	3.81
JHDV	0.63	(0.03)	(0.03)	0.03	1.01	(0.56)	1.04	(1.41)	4.55
BDVG	0.46	(0.01)	(0.05)	0.04	0.54	(0.50)	0.95	(0.94)	2.21
NBCE	0.92	0.03	0.01	0.12	1.34	(0.90)	1.71	(1.58)	7.56
CLIX	1.02	(0.06)	(0.04)	(0.01)	1.45	(0.97)	2.06	(2.08)	6.31
HAUS	0.60	(0.01)	(0.06)	0.03	0.76	(0.60)	1.41	(1.03)	3.57
RFEU	0.51	0.06	0.07	0.16	0.48	(0.55)	1.11	(0.86)	2.66
EAOK	0.23	0.02	(0.08)	0.11	0.15	(0.26)	0.48	(0.40)	1.79
EUDV	0.62	(0.06)	0.00	(0.02)	0.00	0.00	1.20	(1.33)	2.84

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