First Trust Correlations

FIXD Etf

USD 44.59 0.03 0.07%

The current 90-days correlation between First Trust TCW and The 2023 ETF is 0.09 (i.e., Significant 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

Significant diversification

The correlation between First Trust TCW and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust TCW 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 TCW. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in banks.

Moving together with First Etf

0.99	IUSB	iShares Core Total	Pair Corr
0.96	FBND	Fidelity Total Bond	Pair Corr
0.94	TOTL	SPDR DoubleLine Total	Pair Corr
0.81	BNDS	Series Portfolios Trust	Pair Corr
0.96	HTRB	Hartford Total Return	Pair Corr
0.79	DRSK	Aptus Defined Risk	Pair Corr
0.99	GTO	Invesco Total Return	Pair Corr
0.95	EUSB	iShares Trust	Pair Corr
0.99	JCPB	JPMorgan Core Plus Sell-off Trend	Pair Corr
0.61	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.88	MUU	Direxion Daily MU	Pair Corr
0.86	KORU	Direxion Daily South	Pair Corr
0.61	TESL	Simplify Volt TSLA Symbol Change	Pair Corr
0.69	JNUG	Direxion Daily Junior	Pair Corr
0.7	NUGT	Direxion Daily Gold	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr
0.69	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.65	CSCO	Cisco Systems Buyout Trend	Pair Corr
0.87	IBM	International Business	Pair Corr
0.91	GE	GE Aerospace	Pair Corr
0.71	WMT	Walmart Earnings Call This Week	Pair Corr
0.8	BAC	Bank of America	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.85	AA	Alcoa Corp	Pair Corr
0.83	AXP	American Express	Pair Corr

Moving against First Etf

0.35	WTID	UBS ETRACS	Pair Corr
0.8	VZ	Verizon Communications Aggressive Push	Pair Corr
0.75	BA	Boeing	Pair Corr
0.74	T	ATT Inc Aggressive Push	Pair Corr
0.51	HD	Home Depot Earnings Call This Week	Pair Corr
0.46	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	EAGL	CGDG	EWC	EMLP	GRID	IMTM	LVHI	HELO	USCA	AAXJ
EAGL		0.78	0.77	0.36	0.83	0.56	0.67	0.84	0.85	0.84	EAGL
CGDG	0.78		0.84	0.66	0.92	0.87	0.86	0.93	0.92	0.94	CGDG
EWC	0.77	0.84		0.56	0.83	0.74	0.61	0.87	0.87	0.88	EWC
EMLP	0.36	0.66	0.56		0.57	0.6	0.6	0.52	0.53	0.55	EMLP
GRID	0.83	0.92	0.83	0.57		0.76	0.79	0.94	0.96	0.97	GRID
IMTM	0.56	0.87	0.74	0.6	0.76		0.74	0.79	0.79	0.81	IMTM
LVHI	0.67	0.86	0.61	0.6	0.79	0.74		0.8	0.77	0.78	LVHI
HELO	0.84	0.93	0.87	0.52	0.94	0.79	0.8		0.98	0.97	HELO
USCA	0.85	0.92	0.87	0.53	0.96	0.79	0.77	0.98		0.97	USCA
AAXJ	0.84	0.94	0.88	0.55	0.97	0.81	0.78	0.97	0.97		AAXJ
	EAGL	CGDG	EWC	EMLP	GRID	IMTM	LVHI	HELO	USCA	AAXJ

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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
EAGL	0.52	0.08	0.00	(0.82)	0.67	(0.55)	1.18	(0.86)	4.56
CGDG	0.44	0.00	(0.04)	0.08	0.46	(0.49)	0.94	(0.74)	3.08
EWC	0.64	0.02	0.01	0.10	0.79	(0.65)	1.39	(1.33)	3.46
EMLP	0.39	(0.02)	(0.12)	0.03	0.51	(0.37)	0.83	(0.76)	2.28
GRID	0.81	0.01	0.01	0.09	0.95	(0.79)	1.70	(1.73)	4.21
IMTM	0.52	(0.01)	(0.04)	0.07	0.59	(0.55)	1.12	(1.04)	2.71
LVHI	0.32	0.07	0.05	0.25	0.20	(0.37)	0.81	(0.60)	2.29
HELO	0.21	0.00	(0.13)	0.07	0.25	(0.21)	0.52	(0.38)	1.83
USCA	0.53	(0.02)	(0.03)	0.05	0.75	(0.52)	1.29	(1.22)	3.97
AAXJ	0.76	0.04	0.03	0.12	0.89	(0.85)	1.70	(1.33)	5.76

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