First Trust Correlations

FPXE Etf

USD 31.60 0.09 0.28%

The current 90-days correlation between First Trust IPOX and Vanguard FTSE Europe is 0.76 (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.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust IPOX and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust IPOX and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust IPOX. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with First Etf

0.98	VGK	Vanguard FTSE Europe Sell-off Trend	Pair Corr
0.98	EZU	iShares MSCI Eurozone	Pair Corr
0.98	BBEU	JPMorgan BetaBuilders	Pair Corr
0.98	IEUR	iShares Core MSCI	Pair Corr
0.97	FEZ	SPDR EURO STOXX	Pair Corr
0.97	IEV	iShares Europe ETF	Pair Corr
0.8	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.9	DBEU	Xtrackers MSCI Europe	Pair Corr
0.88	HEZU	iShares Currency Hedged	Pair Corr
0.99	FEP	First Trust Europe	Pair Corr
0.98	WSML	iShares MSCI World	Pair Corr
0.95	EVUS	iShares ESG Aware	Pair Corr
0.98	CPSL	Calamos Laddered	Pair Corr
0.98	DFEV	Dimensional ETF Trust	Pair Corr
0.99	VYMI	Vanguard International	Pair Corr
0.93	FXED	Tidal ETF Trust	Pair Corr
0.78	HIDE	Alpha Architect High	Pair Corr
0.95	DFAS	Dimensional Small Cap	Pair Corr
0.99	CGGO	Capital Group Global	Pair Corr
0.95	SAUG	First Trust Exchange	Pair Corr
0.86	MVLL	GraniteShares 2x Long	Pair Corr
0.97	QTOC	Innovator ETFs Trust	Pair Corr
0.94	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.98	SSUS	Day HaganNed Davis	Pair Corr
0.94	PFUT	Putnam Sustainable Future	Pair Corr
0.97	SUPP	TCW Transform Supply	Pair Corr
0.94	ULST	SPDR SSgA Ultra	Pair Corr
0.81	KWEB	KraneShares CSI China Aggressive Push	Pair Corr
0.98	SRLN	SPDR Blackstone Senior	Pair Corr
0.94	ENOR	iShares MSCI Norway	Pair Corr
0.97	SEEM	SEI Select Emerging	Pair Corr
0.96	MYMF	SPDR SSGA My2026	Pair Corr
0.78	BBBL	BondBloxx ETF Trust	Pair Corr
0.93	JAJL	Innovator Equity Defined	Pair Corr
0.98	EFAA	Invesco Actively Managed	Pair Corr

Moving against First Etf

0.55

SMI

Van Eck

Pair Corr

Related Correlations Analysis

	VGK	EZU	BBEU	IEUR	FEZ	IEV	HEDJ	DBEU	HEZU	FEP
VGK		1.0	1.0	1.0	0.99	1.0	0.86	0.94	0.92	0.99	VGK
EZU	1.0		1.0	1.0	1.0	0.99	0.88	0.94	0.93	0.98	EZU
BBEU	1.0	1.0		1.0	0.99	1.0	0.87	0.94	0.93	0.98	BBEU
IEUR	1.0	1.0	1.0		0.99	1.0	0.86	0.94	0.92	0.99	IEUR
FEZ	0.99	1.0	0.99	0.99		0.99	0.9	0.96	0.95	0.97	FEZ
IEV	1.0	0.99	1.0	1.0	0.99		0.88	0.95	0.94	0.98	IEV
HEDJ	0.86	0.88	0.87	0.86	0.9	0.88		0.98	0.99	0.8	HEDJ
DBEU	0.94	0.94	0.94	0.94	0.96	0.95	0.98		0.99	0.89	DBEU
HEZU	0.92	0.93	0.93	0.92	0.95	0.94	0.99	0.99		0.87	HEZU
FEP	0.99	0.98	0.98	0.99	0.97	0.98	0.8	0.89	0.87		FEP
	VGK	EZU	BBEU	IEUR	FEZ	IEV	HEDJ	DBEU	HEZU	FEP

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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
VGK	0.57	0.13	0.09	0.42	0.37	(0.68)	1.30	(1.13)	3.62
EZU	0.62	0.14	0.11	0.41	0.41	(0.75)	1.54	(0.98)	4.04
BBEU	0.58	0.12	0.07	0.40	0.38	(0.69)	1.34	(1.08)	3.49
IEUR	0.56	0.13	0.08	0.41	0.33	(0.67)	1.34	(1.13)	3.71
FEZ	0.70	0.11	0.07	0.33	0.58	(0.83)	1.60	(1.22)	4.73
IEV	0.60	0.12	0.06	0.39	0.43	(0.73)	1.38	(1.14)	3.82
HEDJ	0.76	0.06	0.02	0.20	0.85	(0.82)	1.66	(1.59)	5.18
DBEU	0.64	0.08	0.04	0.25	0.58	(0.68)	1.53	(1.30)	4.45
HEZU	0.69	0.09	0.06	0.25	0.57	(0.74)	1.83	(1.35)	4.72
FEP	0.69	0.24	0.22	0.89	0.29	(0.86)	1.79	(0.90)	3.81

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