First Trust Correlations

FDV Etf

28.21 0.21 0.75%

The current 90-days correlation between First Trust Capital and Vanguard Value Index is 0.88 (i.e., Very 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. 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 Capital and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Capital 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 Capital. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Etf

0.97	VTV	Vanguard Value Index	Pair Corr
0.94	VYM	Vanguard High Dividend	Pair Corr
0.96	IWD	iShares Russell 1000 Sell-off Trend	Pair Corr
0.97	DGRO	iShares Core Dividend	Pair Corr
0.97	IVE	iShares SP 500	Pair Corr
0.98	DVY	iShares Select Dividend	Pair Corr
0.97	SPYV	SPDR Portfolio SP	Pair Corr
0.96	FVD	First Trust Value	Pair Corr
0.97	IUSV	iShares Core SP	Pair Corr
0.97	NOBL	ProShares SP 500	Pair Corr
0.94	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.94	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.94	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.64	BND	Vanguard Total Bond	Pair Corr
0.92	VUG	Vanguard Growth Index	Pair Corr
0.94	VO	Vanguard Mid Cap	Pair Corr
0.91	VEA	Vanguard FTSE Developed	Pair Corr
0.94	VB	Vanguard Small Cap	Pair Corr
0.86	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.68	XOM	Exxon Mobil Corp	Pair Corr
0.92	AXP	American Express	Pair Corr
0.87	IBM	International Business Earnings Call This Week	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr
0.89	BA	Boeing	Pair Corr
0.8	INTC	Intel Earnings Call This Week	Pair Corr
0.9	CSCO	Cisco Systems	Pair Corr
0.86	DIS	Walt Disney	Pair Corr
0.89	MSFT	Microsoft	Pair Corr
0.92	PFE	Pfizer Inc	Pair Corr
0.88	MMM	3M Company	Pair Corr
0.94	DD	Dupont De Nemours	Pair Corr

Moving against First Etf

0.6	MCD	McDonalds	Pair Corr
0.33	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	VTV	VYM	IWD	DGRO	IVE	DVY	SPYV	FVD	IUSV	NOBL
VTV		0.97	1.0	1.0	1.0	0.97	1.0	0.96	1.0	0.95	VTV
VYM	0.97		0.97	0.98	0.97	0.93	0.97	0.91	0.97	0.91	VYM
IWD	1.0	0.97		1.0	1.0	0.97	1.0	0.96	1.0	0.96	IWD
DGRO	1.0	0.98	1.0		1.0	0.97	1.0	0.96	1.0	0.96	DGRO
IVE	1.0	0.97	1.0	1.0		0.97	1.0	0.96	1.0	0.96	IVE
DVY	0.97	0.93	0.97	0.97	0.97		0.97	0.96	0.97	0.98	DVY
SPYV	1.0	0.97	1.0	1.0	1.0	0.97		0.96	1.0	0.96	SPYV
FVD	0.96	0.91	0.96	0.96	0.96	0.96	0.96		0.96	0.98	FVD
IUSV	1.0	0.97	1.0	1.0	1.0	0.97	1.0	0.96		0.96	IUSV
NOBL	0.95	0.91	0.96	0.96	0.96	0.98	0.96	0.98	0.96		NOBL
	VTV	VYM	IWD	DGRO	IVE	DVY	SPYV	FVD	IUSV	NOBL

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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
VTV	0.59	0.02	(0.01)	0.16	0.60	(0.63)	1.49	(1.15)	4.05
VYM	0.59	0.18	0.05	(1.73)	0.53	(0.64)	1.56	(1.16)	4.21
IWD	0.58	0.04	0.02	0.18	0.60	(0.64)	1.53	(1.11)	4.37
DGRO	0.60	0.04	0.01	0.18	0.58	(0.65)	1.34	(1.14)	4.30
IVE	0.60	0.03	0.01	0.17	0.62	(0.63)	1.45	(1.01)	4.42
DVY	0.66	0.02	(0.01)	0.16	0.75	(0.70)	1.39	(1.33)	4.83
SPYV	0.59	0.03	0.00	0.16	0.60	(0.64)	1.38	(0.99)	4.53
FVD	0.59	(0.02)	(0.09)	0.10	0.63	(0.60)	1.32	(1.10)	3.37
IUSV	0.60	0.03	0.01	0.17	0.65	(0.64)	1.57	(1.05)	4.62
NOBL	0.72	(0.03)	(0.06)	0.09	0.77	(0.79)	1.74	(1.28)	4.47

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