First Trust Correlations

Etfs . USA . 
Etf . First Trust Dow
FGD Etf  USD 27.94  0.08  0.29%   
The current 90-days correlation between First Trust Dow and First Trust STOXX is 0.77 (i.e., 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.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Dow and DJI is 0.44 (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 Dow 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 Dow. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with First Etf

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  0.98FNDF Schwab FundamentalPairCorr
  0.97VYMI Vanguard InternationalPairCorr
  1.0IDV iShares InternationalPairCorr
  0.98DFIV Dimensional InternationalPairCorr
  0.95IVLU iShares Edge MSCIPairCorr
  0.97RODM Hartford MultifactorPairCorr
  0.98PXF Invesco FTSE RAFIPairCorr
  0.96HDEF Xtrackers MSCI EAFEPairCorr
  0.97PID Invesco InternationalPairCorr
  0.97VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.97SPY SPDR SP 500 Sell-off TrendPairCorr
  0.97IVV iShares Core SP Sell-off TrendPairCorr
  0.68BND Vanguard Total BondPairCorr
  0.97VTV Vanguard Value IndexPairCorr
  0.96VUG Vanguard Growth IndexPairCorr
  0.96VO Vanguard Mid CapPairCorr
  0.97VEA Vanguard FTSE DevelopedPairCorr
  0.94VB Vanguard Small CapPairCorr
  0.97VWO Vanguard FTSE Emerging Sell-off TrendPairCorr
  0.75KGRN KraneShares MSCI ChinaPairCorr
  0.91PFE Pfizer IncPairCorr
  0.95BAC Bank of AmericaPairCorr
  0.95MSFT MicrosoftPairCorr
  0.96CSCO Cisco SystemsPairCorr
  0.93DIS Walt DisneyPairCorr
  0.87AA Alcoa CorpPairCorr
  0.88DD Dupont De NemoursPairCorr
  0.97JPM JPMorgan ChasePairCorr
  0.93AXP American ExpressPairCorr
  0.66XOM Exxon Mobil CorpPairCorr
  0.94IBM International Business Earnings Call This WeekPairCorr

Moving against First Etf

  0.73MCD McDonaldsPairCorr
  0.55PG Procter GamblePairCorr
  0.45VZ Verizon Communications Earnings Call TomorrowPairCorr

Related Correlations Analysis

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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.

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