First Trust Correlations

FICS Etf

USD 38.92 0.09 0.23%

The current 90-days correlation between First Trust International and Strategy Shares is 0.17 (i.e., Average 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 International and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust International 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 International. 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

0.94	EFG	iShares MSCI EAFE	Pair Corr
0.97	VIGI	Vanguard International	Pair Corr
0.91	IHDG	WisdomTree International	Pair Corr
0.91	CGXU	Capital Group Intern	Pair Corr
0.88	DNL	WisdomTree Global	Pair Corr
0.86	FPXI	First Trust International	Pair Corr
0.92	IQDG	WisdomTree International	Pair Corr
0.88	PIZ	Invesco DWA Developed	Pair Corr
0.94	IDHQ	Invesco SP International	Pair Corr
0.95	BKCI	BNY Mellon ETF	Pair Corr
0.81	SIXD	AIM ETF Products	Pair Corr
0.64	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.82	CEFD	ETRACS Monthly Pay	Pair Corr
0.83	FLQL	Franklin LibertyQ Equity	Pair Corr
0.86	FVD	First Trust Value	Pair Corr
0.85	ENOR	iShares MSCI Norway	Pair Corr
0.7	IBIB	iShares Trust	Pair Corr
0.8	MVV	ProShares Ultra MidCap400	Pair Corr
0.65	MVLL	GraniteShares 2x Long	Pair Corr
0.81	MPRO	Northern Lights	Pair Corr
0.89	MCSE	Martin Currie Sustainable	Pair Corr
0.85	LRNZ	Elevation Series Trust	Pair Corr
0.83	QQQ	Invesco QQQ Trust Sell-off Trend	Pair Corr
0.82	VBK	Vanguard Small Cap	Pair Corr
0.8	MDEV	First Trust Exchange	Pair Corr
0.82	BSJR	Invesco BulletShares 2027	Pair Corr
0.81	PSFF	Pacer Funds Trust	Pair Corr
0.76	CVSB	Morgan Stanley Etf	Pair Corr
0.82	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.74	IWN	iShares Russell 2000	Pair Corr
0.82	SSUS	Day HaganNed Davis	Pair Corr
0.89	EWA	iShares MSCI Australia	Pair Corr
0.85	PSC	Principal Small Cap	Pair Corr

Moving against First Etf

0.82	VXX	iPath Series B	Pair Corr
0.82	VIXY	ProShares VIX Short	Pair Corr
0.42	YCL	ProShares Ultra Yen	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DINT	MCHI	DIVS	DIVY	DIVZ	PY	VT
DHSB		0.96	0.96	0.9	0.95	0.95	0.95	0.96	0.97	DHSB
MBOX	0.96		0.95	0.89	0.95	0.98	0.96	0.99	0.97	MBOX
DINT	0.96	0.95		0.95	0.97	0.94	0.94	0.96	0.99	DINT
MCHI	0.9	0.89	0.95		0.9	0.88	0.87	0.9	0.93	MCHI
DIVS	0.95	0.95	0.97	0.9		0.94	0.97	0.95	0.98	DIVS
DIVY	0.95	0.98	0.94	0.88	0.94		0.97	0.98	0.97	DIVY
DIVZ	0.95	0.96	0.94	0.87	0.97	0.97		0.96	0.97	DIVZ
PY	0.96	0.99	0.96	0.9	0.95	0.98	0.96		0.98	PY
VT	0.97	0.97	0.99	0.93	0.98	0.97	0.97	0.98		VT
	DHSB	MBOX	DINT	MCHI	DIVS	DIVY	DIVZ	PY	VT

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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
DHSB	0.34	0.03	(0.07)	0.20	0.58	(0.37)	0.96	(0.44)	5.27
MBOX	0.55	0.00	(0.04)	0.14	0.67	(0.57)	1.66	(1.16)	3.86
DINT	0.72	0.20	0.19	0.47	0.22	(0.82)	2.15	(0.97)	4.80
MCHI	0.92	0.14	0.08	0.42	0.78	(1.16)	2.66	(1.85)	5.88
DIVS	0.55	0.05	(0.02)	0.21	0.42	(0.64)	1.26	(1.12)	3.27
DIVY	0.84	0.06	0.04	0.19	0.83	(0.92)	1.88	(1.63)	5.00
DIVZ	0.55	0.05	(0.01)	0.21	0.51	(0.61)	1.06	(0.89)	3.72
PY	0.64	0.03	0.01	0.17	0.64	(0.74)	1.59	(1.26)	5.03
VT	0.55	0.13	0.12	0.30	0.36	(0.63)	1.74	(1.25)	3.72

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