First Trust Correlations

FNK Etf

USD 52.81 0.14 0.26%

The current 90-days correlation between First Trust Mid and First Trust Small is 0.98 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Mid moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Mid and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Mid 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 Mid. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with First Etf

0.99	VOE	Vanguard Mid Cap	Pair Corr
0.98	SDY	SPDR SP Dividend	Pair Corr
0.99	IWS	iShares Russell Mid	Pair Corr
0.95	SPYD	SPDR Portfolio SP	Pair Corr
0.99	COWZ	Pacer Cash Cows	Pair Corr
0.99	DON	WisdomTree MidCap	Pair Corr
0.98	RPV	Invesco SP 500	Pair Corr
0.97	PEY	Invesco High Yield	Pair Corr
0.98	PKW	Invesco BuyBack Achievers	Pair Corr
0.99	ONEY	SPDR Russell 1000	Pair Corr
0.62	PMBS	PIMCO Mortgage Backed	Pair Corr
0.96	SIXD	AIM ETF Products	Pair Corr
0.89	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.94	CEFD	ETRACS Monthly Pay	Pair Corr
1.0	VFVA	Vanguard Value Factor	Pair Corr
0.86	NFLX	Netflix	Pair Corr
0.81	KWEB	KraneShares CSI China Aggressive Push	Pair Corr
0.95	CGGO	Capital Group Global	Pair Corr
0.64	EUSB	iShares Trust	Pair Corr
0.95	QTOC	Innovator ETFs Trust	Pair Corr
0.8	VBF	Invesco Van Kampen	Pair Corr
0.92	PFUT	Putnam Sustainable Future	Pair Corr
0.7	HIDE	Alpha Architect High	Pair Corr
0.93	MYMF	SPDR SSGA My2026	Pair Corr
0.96	BUFD	FT Cboe Vest	Pair Corr
0.96	SRLN	SPDR Blackstone Senior	Pair Corr
0.83	KGRN	KraneShares MSCI China	Pair Corr
0.84	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.83	SPIB	SPDR Barclays Interm	Pair Corr

Moving against First Etf

0.96	VXX	iPath Series B	Pair Corr
0.96	VIXY	ProShares VIX Short	Pair Corr
0.81	YCL	ProShares Ultra Yen	Pair Corr

Related Correlations Analysis

	FYT	FNY	FYC	FTA	FAD
FYT		0.94	0.95	0.98	0.94	FYT
FNY	0.94		0.98	0.96	1.0	FNY
FYC	0.95	0.98		0.98	0.99	FYC
FTA	0.98	0.96	0.98		0.97	FTA
FAD	0.94	1.0	0.99	0.97		FAD
	FYT	FNY	FYC	FTA	FAD

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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
FYT	1.08	0.07	0.07	0.20	0.97	(1.26)	2.54	(1.90)	7.82
FNY	0.83	0.09	0.09	0.22	0.74	(0.98)	2.17	(1.31)	5.27
FYC	0.94	0.15	0.14	0.28	0.77	(1.03)	2.53	(1.81)	5.30
FTA	0.73	0.04	0.03	0.18	0.74	(0.79)	1.86	(1.17)	5.35
FAD	0.76	0.14	0.14	0.29	0.60	(0.94)	1.88	(1.29)	4.75

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