First Trust Correlations

FTGC Etf

USD 25.61 0.08 0.31%

The current 90-days correlation between First Trust Global and iShares GSCI Commodity is 0.13 (i.e., Average 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 Global and DJI is 0.56 (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 Global 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 Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with First Etf

0.94	PDBC	Invesco Optimum Yield	Pair Corr
0.84	DBC	Invesco DB Commodity Sell-off Trend	Pair Corr
0.85	COMT	iShares GSCI Commodity	Pair Corr
0.82	GSG	iShares SP GSCI Sell-off Trend	Pair Corr
0.84	DJP	iPath Bloomberg Commodity	Pair Corr
0.83	BCI	abrdn Bloomberg All	Pair Corr
0.83	CMDY	iShares Bloomberg Roll	Pair Corr
0.83	COMB	GraniteShares Bloomberg	Pair Corr
0.7	GCC	WisdomTree Continuous	Pair Corr
0.75	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.62	CEFD	ETRACS Monthly Pay	Pair Corr
0.63	DSPY	Tema ETF Trust	Pair Corr

Moving against First Etf

0.72	VXX	iPath Series B Downward Rally	Pair Corr
0.72	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.51	YCL	ProShares Ultra Yen	Pair Corr
0.43	SPTS	SPDR Barclays Short Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.89	0.71	0.75	0.44	0.65	0.58	0.87	-0.15	0.08	META
MSFT	0.89		0.89	0.81	0.55	0.32	0.46	0.93	-0.49	-0.25	MSFT
UBER	0.71	0.89		0.9	0.53	0.17	0.53	0.9	-0.55	-0.24	UBER
F	0.75	0.81	0.9		0.55	0.42	0.63	0.84	-0.28	0.08	F
T	0.44	0.55	0.53	0.55		0.15	0.11	0.61	-0.27	0.08	T
A	0.65	0.32	0.17	0.42	0.15		0.62	0.39	0.58	0.69	A
CRM	0.58	0.46	0.53	0.63	0.11	0.62		0.56	0.18	0.35	CRM
JPM	0.87	0.93	0.9	0.84	0.61	0.39	0.56		-0.43	-0.04	JPM
MRK	-0.15	-0.49	-0.55	-0.28	-0.27	0.58	0.18	-0.43		0.72	MRK
XOM	0.08	-0.25	-0.24	0.08	0.08	0.69	0.35	-0.04	0.72		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.93	MSFT
F	+ 0.9	UBER
JPM	+ 0.9	UBER
MSFT	+ 0.89	META
UBER	+ 0.89	MSFT
JPM	+ 0.87	META

High negative correlations

MRK	- 0.55	UBER
MRK	- 0.49	MSFT
MRK	- 0.43	JPM
MRK	- 0.28	F
MRK	- 0.27	T
XOM	- 0.25	MSFT

First Trust Competition 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
META	2.14	0.20	0.08	0.19	2.51	(2.37)	4.23	(4.29)	21.50
MSFT	1.26	0.30	0.19	0.37	1.12	(1.36)	2.58	(2.36)	13.79
UBER	1.95	0.29	0.08	(1.56)	2.33	(2.12)	4.19	(3.48)	16.18
F	1.70	0.18	0.04	(0.71)	2.25	(1.78)	2.90	(3.84)	13.07
T	1.17	0.10	0.03	0.41	1.77	(1.20)	2.01	(2.62)	8.83
A	1.80	(0.04)	(0.01)	0.04	2.44	(1.85)	3.24	(4.15)	14.45
CRM	1.62	(0.10)	0.00	(0.02)	0.00	0.00	3.02	(3.64)	13.13
JPM	1.34	0.22	0.10	0.26	1.94	(1.41)	2.88	(2.12)	11.14
MRK	1.56	(0.24)	0.00	(0.29)	0.00	0.00	2.55	(4.72)	10.58
XOM	1.31	0.02	0.00	0.09	2.18	(1.25)	2.80	(2.77)	10.53

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