First Trust Correlations

FTXG Etf

USD 22.82 0.50 2.24%

The current 90-days correlation between First Trust Nasdaq and First Trust Consumer is 0.91 (i.e., Almost no 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 Nasdaq and DJI is 0.47 (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 Nasdaq 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 Nasdaq. 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

0.79

FXG

First Trust Consumer

Pair Corr

Moving against First Etf

0.72	QLD	ProShares Ultra QQQ	Pair Corr
0.7	SMH	VanEck Semiconductor ETF	Pair Corr
0.7	SOXX	iShares Semiconductor ETF	Pair Corr
0.69	ROM	ProShares Ultra Tech	Pair Corr
0.69	UPRO	ProShares UltraPro SP500	Pair Corr
0.69	SRLN	SPDR Blackstone Senior	Pair Corr
0.69	EFAA	Invesco Actively Managed	Pair Corr
0.68	TECL	Direxion Daily Technology	Pair Corr
0.68	VSS	Vanguard FTSE All	Pair Corr
0.68	SPY	SPDR SP 500	Pair Corr
0.67	USD	ProShares Ultra Semi	Pair Corr
0.67	KWEB	KraneShares CSI China Aggressive Push	Pair Corr
0.67	VYMI	Vanguard International	Pair Corr
0.66	SPXL	Direxion Daily SP500	Pair Corr
0.65	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.64	MPRO	Northern Lights	Pair Corr
0.62	IBIB	iShares Trust	Pair Corr
0.61	VBF	Invesco Van Kampen	Pair Corr
0.55	FXED	Tidal ETF Trust	Pair Corr
0.55	FCOR	Fidelity Corporate Bond	Pair Corr
0.4	PBJ	Invesco Dynamic Food	Pair Corr
0.73	QTOC	Innovator ETFs Trust	Pair Corr
0.73	ENOR	iShares MSCI Norway	Pair Corr
0.72	CGGO	Capital Group Global	Pair Corr
0.72	PFUT	Putnam Sustainable Future	Pair Corr
0.7	MVLL	GraniteShares 2x Long	Pair Corr
0.7	NFLX	Netflix	Pair Corr
0.7	DECW	AIM ETF Products	Pair Corr
0.69	BUFD	FT Cboe Vest	Pair Corr
0.69	VWO	Vanguard FTSE Emerging	Pair Corr
0.69	SUPP	TCW Transform Supply	Pair Corr

Related Correlations Analysis

	FXG	FSTA	IYK	KXI	PBJ	PSL	SZK	UGE
FXG		0.14	0.31	-0.06	-0.32	-0.07	-0.09	0.08	FXG
FSTA	0.14		0.79	0.9	0.53	0.79	-0.54	0.52	FSTA
IYK	0.31	0.79		0.77	0.16	0.44	-0.44	0.43	IYK
KXI	-0.06	0.9	0.77		0.45	0.69	-0.54	0.51	KXI
PBJ	-0.32	0.53	0.16	0.45		0.68	-0.34	0.32	PBJ
PSL	-0.07	0.79	0.44	0.69	0.68		-0.23	0.21	PSL
SZK	-0.09	-0.54	-0.44	-0.54	-0.34	-0.23		-0.99	SZK
UGE	0.08	0.52	0.43	0.51	0.32	0.21	-0.99		UGE
	FXG	FSTA	IYK	KXI	PBJ	PSL	SZK	UGE

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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

KXI	+ 0.9	FSTA
IYK	+ 0.79	FSTA
PSL	+ 0.79	FSTA
KXI	+ 0.77	IYK
PSL	+ 0.69	KXI
PSL	+ 0.68	PBJ

High negative correlations

UGE	- 0.99	SZK
SZK	- 0.54	KXI
SZK	- 0.54	FSTA
SZK	- 0.44	IYK
SZK	- 0.34	PBJ
PBJ	- 0.32	FXG

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
FXG	0.59	(0.08)	0.00	(0.07)	0.00	0.00	1.38	(1.32)	3.70
FSTA	0.60	(0.06)	(0.18)	0.01	0.70	(0.63)	1.34	(1.19)	3.44
IYK	0.59	(0.05)	(0.21)	(0.03)	0.70	(0.61)	0.99	(1.07)	3.92
KXI	0.55	(0.02)	(0.17)	0.07	0.63	(0.58)	1.12	(1.08)	3.54
PBJ	0.68	0.07	(0.10)	(3.91)	0.64	(0.82)	1.33	(1.06)	4.07
PSL	0.63	(0.06)	(0.15)	0.02	0.76	(0.63)	1.72	(1.10)	3.65
SZK	1.15	0.00	(0.06)	0.14	1.63	(1.11)	2.28	(2.26)	6.70
UGE	1.20	0.00	0.00	0.13	0.00	0.00	2.26	(2.24)	7.10

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