First Trust Correlations

FJP Etf

USD 57.98 1.89 3.16%

The current 90-days correlation between First Trust Japan and FT Vest Equity is 0.61 (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. 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 Japan and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Japan 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 Japan. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with First Etf

0.98	EWJ	iShares MSCI Japan	Pair Corr
0.98	BBJP	JPMorgan BetaBuilders	Pair Corr
0.93	DXJ	WisdomTree Japan Hedged Potential Growth	Pair Corr
0.98	FLJP	Franklin FTSE Japan	Pair Corr
0.95	HEWJ	iShares Currency Hedged	Pair Corr
0.87	DBJP	Xtrackers MSCI Japan Potential Growth	Pair Corr
0.98	DFJ	WisdomTree Japan SmallCap	Pair Corr
0.95	EWJV	iShares MSCI Japan	Pair Corr
0.98	SCJ	iShares MSCI Japan	Pair Corr
0.98	JPXN	iShares JPX Nikkei	Pair Corr
0.94	SHLD	Global X Funds	Pair Corr
0.89	LUX	Tema ETF Trust	Pair Corr
0.91	SWP	SWP Growth Income	Pair Corr
0.94	WINN	Harbor Long Term	Pair Corr
0.89	HECO	SPDR Galaxy Hedged	Pair Corr
0.78	GHMS	Goose Hollow Multi	Pair Corr
0.94	KNCT	Invesco Next Gen	Pair Corr
0.93	PHYL	PGIM Active High	Pair Corr
0.98	IBUF	Innovator ETFs Trust	Pair Corr
0.88	FVD	First Trust Value	Pair Corr
0.98	VXUS	Vanguard Total Inter	Pair Corr
0.9	MFSV	MFS Active Value	Pair Corr
0.9	BSCP	Invesco BulletShares 2025	Pair Corr
0.9	DSCF	Discipline Fund ETF	Pair Corr
0.76	PALL	abrdn Physical Palladium	Pair Corr
0.94	GLRY	Inspire Faithward Mid	Pair Corr
0.79	RKLX	Defiance Daily Target Upward Rally	Pair Corr
0.74	WOOD	iShares Global Timber	Pair Corr
0.92	XLC	Communication Services	Pair Corr
0.61	SCHO	Schwab Short Term	Pair Corr
0.81	DIVY	Tidal ETF Trust	Pair Corr
0.66	THMZ	Lazard Equity Megatrends	Pair Corr
0.93	VOO	Vanguard SP 500	Pair Corr

Moving against First Etf

0.93	FNGD	MicroSectors FANG Index	Pair Corr
0.73	HUM	Humana Inc	Pair Corr
0.54	SMI	Van Eck	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	MCDS	DINT	DISV	DIVN	DJAN	MDLV
DHDG		0.96	0.98	0.96	0.97	0.98	-0.24	0.96	0.79	DHDG
MBCC	0.96		0.95	0.99	0.98	0.95	-0.28	1.0	0.89	MBCC
DIHP	0.98	0.95		0.94	0.96	0.99	-0.25	0.95	0.82	DIHP
MCDS	0.96	0.99	0.94		0.98	0.93	-0.25	0.98	0.89	MCDS
DINT	0.97	0.98	0.96	0.98		0.96	-0.28	0.98	0.87	DINT
DISV	0.98	0.95	0.99	0.93	0.96		-0.3	0.96	0.83	DISV
DIVN	-0.24	-0.28	-0.25	-0.25	-0.28	-0.3		-0.32	-0.26	DIVN
DJAN	0.96	1.0	0.95	0.98	0.98	0.96	-0.32		0.87	DJAN
MDLV	0.79	0.89	0.82	0.89	0.87	0.83	-0.26	0.87		MDLV
	DHDG	MBCC	DIHP	MCDS	DINT	DISV	DIVN	DJAN	MDLV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DJAN	+ 1.0	MBCC
MCDS	+ 0.99	MBCC
DISV	+ 0.99	DIHP
DIHP	+ 0.98	DHDG
DISV	+ 0.98	DHDG
DINT	+ 0.98	MBCC

High negative correlations

DJAN	- 0.32	DIVN
DIVN	- 0.3	DISV
DIVN	- 0.28	DINT
DIVN	- 0.28	MBCC
MDLV	- 0.26	DIVN
DIVN	- 0.25	MCDS

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
DHDG	0.32	0.04	(0.03)	0.19	0.46	(0.30)	1.03	(0.96)	5.20
MBCC	1.01	0.05	0.03	0.15	1.74	(1.00)	2.25	(2.07)	11.66
DIHP	0.78	0.08	0.04	0.22	1.22	(0.79)	1.60	(1.52)	8.25
MCDS	1.09	0.03	0.02	0.13	1.69	(1.08)	2.04	(2.35)	11.72
DINT	1.07	0.09	0.04	0.20	1.65	(1.03)	2.64	(2.16)	8.82
DISV	0.78	0.15	0.06	0.31	1.40	(0.89)	1.72	(1.08)	7.92
DIVN	0.42	0.00	0.00	0.00	0.00	0.00	1.67	0.00	1.12
DJAN	0.51	0.04	(0.01)	0.19	0.72	(0.52)	1.06	(1.18)	5.11
MDLV	0.72	(0.05)	(0.06)	0.03	1.36	(0.64)	1.53	(1.58)	6.20

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC