First Trust Correlations

FGRD Etf

3,674 4.50 0.12%

The current 90-days correlation between First Trust Nasdaq and First Trust Large is 0.8 (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

Weak diversification

The correlation between First Trust Nasdaq and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Nasdaq and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to First Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Trust when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Trust - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Trust Nasdaq to buy it.

Moving together with First Etf

0.96	NVD3	Leverage Shares 3x	Pair Corr
0.96	3NVD	Leverage Shares 3x	Pair Corr
0.85	NFL3	Leverage Shares 3x	Pair Corr
0.85	3NFL	Leverage Shares 3x	Pair Corr
0.84	3NFE	Leverage Shares 3x	Pair Corr
0.96	3LNV	GraniteShares 3x Long	Pair Corr
0.96	3LVP	GraniteShares 3x Long	Pair Corr
0.87	3LNE	GraniteShares 3x Long	Pair Corr
0.97	NVD2	Leverage Shares 2x	Pair Corr
0.88	3PLT	Leverage Shares 3x	Pair Corr
0.97	JPCT	JPM Carbon Transition	Pair Corr
0.97	EUHD	PowerShares EURO STOXX	Pair Corr
0.94	CBND	Goldman Sachs Access	Pair Corr
0.94	YIEL	Amundi EUR High	Pair Corr
0.93	EXUS	Xtrackers MSCI World	Pair Corr
0.8	GIN	SPDR Morningstar Multi	Pair Corr
0.98	ESIN	iShares MSCI Europe	Pair Corr
0.94	JRDC	JPM China A	Pair Corr
0.88	LALU	WisdomTree Aluminium	Pair Corr
0.98	HPUD	HSBC MSCI USA	Pair Corr
0.98	MSF2	Leverage Shares 2x	Pair Corr
0.94	AUGA	UBS ETF plc	Pair Corr
0.92	SEML	iShares JP Morgan	Pair Corr
0.83	REUG	VanEck Circular Economy	Pair Corr
0.99	5QQQ	Leverage Shares 5x	Pair Corr
0.77	CESG	FIRST TRUST GLOBAL	Pair Corr
0.73	EHYB	Invesco Euro Corporate	Pair Corr
0.94	BRLA	BlackRock Latin American	Pair Corr
0.98	XCTU	Xtrackers MSCI Japan	Pair Corr
0.96	SMH3	Leverage Shares 3x	Pair Corr
0.96	TSM3	Leverage Shares 3x	Pair Corr
0.71	ZINC	WisdomTree Zinc	Pair Corr
0.98	AIQG	GLOBAL X ETFS	Pair Corr
0.91	AMD3	Leverage Shares 3x	Pair Corr
0.97	NATP	HANetf ICAV	Pair Corr
0.81	OIHV	VanEck Oil Services	Pair Corr
0.75	ARCG	ARK Genomic Revolution	Pair Corr
0.96	CB5	Multi Units Luxembourg	Pair Corr
0.99	HSPX	HSBC SP 500	Pair Corr

Related Correlations Analysis

	FEXD	CAPS	QCLN	FEUZ	FCBR	FXGB	FVD	UIND	FGRD
FEXD		0.63	0.97	0.95	0.92	0.55	0.93	0.93	0.97	FEXD
CAPS	0.63		0.65	0.5	0.59	0.13	0.68	0.42	0.52	CAPS
QCLN	0.97	0.65		0.92	0.89	0.53	0.91	0.91	0.95	QCLN
FEUZ	0.95	0.5	0.92		0.91	0.68	0.93	0.92	0.97	FEUZ
FCBR	0.92	0.59	0.89	0.91		0.61	0.89	0.83	0.94	FCBR
FXGB	0.55	0.13	0.53	0.68	0.61		0.6	0.53	0.66	FXGB
FVD	0.93	0.68	0.91	0.93	0.89	0.6		0.86	0.91	FVD
UIND	0.93	0.42	0.91	0.92	0.83	0.53	0.86		0.91	UIND
FGRD	0.97	0.52	0.95	0.97	0.94	0.66	0.91	0.91		FGRD
	FEXD	CAPS	QCLN	FEUZ	FCBR	FXGB	FVD	UIND	FGRD

Click cells to compare fundamentals

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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
FEXD	0.62	0.15	0.06	0.98	0.41	(0.74)	1.64	(1.00)	4.35
CAPS	0.65	0.00	(0.14)	0.15	0.76	(0.68)	1.50	(1.25)	3.17
QCLN	1.63	0.38	0.15	1.14	1.61	(1.82)	4.27	(2.85)	11.38
FEUZ	0.54	0.23	0.19	1.03	0.05	(0.66)	1.30	(0.76)	3.79
FCBR	0.88	0.17	0.08	0.53	0.87	(0.95)	2.34	(1.60)	6.12
FXGB	0.16	0.04	(0.26)	(4.60)	0.00	(0.16)	0.34	(0.29)	3.14
FVD	0.48	0.06	(0.11)	0.97	0.43	(0.56)	1.11	(0.96)	2.96
UIND	0.63	0.12	0.01	0.77	0.59	(0.72)	1.61	(1.10)	3.98
FGRD	0.75	0.28	0.31	0.85	0.00	(0.92)	2.58	(0.95)	4.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Trust without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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