First Trust Correlations

Etfs . USA . 
Etf . First Trust Indxx
FTRI Etf  USD 14.34  0.06  0.42%   
The current 90-days correlation between First Trust Indxx and First Trust Indxx is 0.38 (i.e., Weak 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

Significant diversification

The correlation between First Trust Indxx and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Indxx 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 Indxx. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with First Etf

  0.91XLB Materials Select SectorPairCorr
  0.91VAW Vanguard Materials IndexPairCorr
  0.94XME SPDR SP MetalsPairCorr
  0.87PHO Invesco Water ResourcesPairCorr
  0.92MOO VanEck Agribusiness ETFPairCorr
  0.93FXZ First Trust MaterialsPairCorr
  0.87FIW First Trust WaterPairCorr
  0.95URNM Sprott Uranium MinersPairCorr
  0.95IYM iShares Basic MaterialsPairCorr
  0.77BTCL T Rex 2XPairCorr
  0.77BITU ProShares TrustPairCorr
  0.77BTFX Valkyrie Bitcoin FuturesPairCorr
  0.76BITX Volatility Shares TrustPairCorr
  0.64MSTY YieldMax MSTR Option Downward RallyPairCorr
  0.93DFEN Direxion Daily AerospacePairCorr
  0.87NFLX Netflix Downward RallyPairCorr
  0.63KGRN KraneShares MSCI ChinaPairCorr
  0.67KWEB KraneShares CSI China Aggressive PushPairCorr
  0.9QTOC Innovator ETFs TrustPairCorr
  0.94MYMF SPDR SSGA My2026PairCorr
  0.82PFUT Putnam Sustainable FuturePairCorr
  0.93SRLN SPDR Blackstone SeniorPairCorr
  0.76EUSB iShares TrustPairCorr
  0.81VBF Invesco Van KampenPairCorr
  0.92BUFD FT Cboe VestPairCorr
  0.92SPIB SPDR Barclays IntermPairCorr
  0.82HIDE Alpha Architect HighPairCorr
  0.94VABS Virtus Newfleet ABSMBSPairCorr
  0.92CGGO Capital Group GlobalPairCorr

Moving against First Etf

  0.89WTID UBS ETRACSPairCorr
  0.58EV NEOS Investment ManaPairCorr

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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