First Trust Correlations

Etfs . USA . 
Etf . First Trust Large
FTA Etf  USD 79.37  0.25  0.31%   
The current 90-days correlation between First Trust Large and First Trust Large is 0.69 (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 poor diversification

The correlation between First Trust Large and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Large 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 Large. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with First Etf

  0.99VTV Vanguard Value IndexPairCorr
  0.96VYM Vanguard High DividendPairCorr
  0.99IWD iShares Russell 1000 Sell-off TrendPairCorr
  0.99DGRO iShares Core DividendPairCorr
  0.99IVE iShares SP 500PairCorr
  0.98DVY iShares Select DividendPairCorr
  0.99SPYV SPDR Portfolio SPPairCorr
  0.95FVD First Trust ValuePairCorr
  0.99IUSV iShares Core SPPairCorr
  0.96NOBL ProShares SP 500PairCorr
  0.98VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.98SPY SPDR SP 500 Sell-off TrendPairCorr
  0.98IVV iShares Core SP Sell-off TrendPairCorr
  0.64BND Vanguard Total BondPairCorr
  0.97VUG Vanguard Growth IndexPairCorr
  0.98VO Vanguard Mid CapPairCorr
  0.94VEA Vanguard FTSE DevelopedPairCorr
  0.99VB Vanguard Small CapPairCorr
  0.89GE GE Aerospace Earnings Call This WeekPairCorr
  0.69XOM Exxon Mobil CorpPairCorr
  0.98AXP American ExpressPairCorr
  0.92IBM International Business Earnings Call This WeekPairCorr
  0.94AA Alcoa CorpPairCorr
  0.91BA BoeingPairCorr
  0.84INTC Intel Earnings Call This WeekPairCorr
  0.94CSCO Cisco SystemsPairCorr
  0.93DIS Walt DisneyPairCorr
  0.94MSFT MicrosoftPairCorr
  0.89PFE Pfizer IncPairCorr
  0.91MMM 3M CompanyPairCorr
  0.93DD Dupont De NemoursPairCorr

Moving against First Etf

  0.67MCD McDonaldsPairCorr
  0.37VZ Verizon Communications Earnings Call This WeekPairCorr

Related Correlations Analysis

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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.

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