First Trust Correlations

NFTY Etf

USD 58.73 0.54 0.91%

The current 90-days correlation between First Trust India and Franklin FTSE India is 0.96 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Modest diversification

The correlation between First Trust India and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust India and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust India. 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

0.99	INDA	iShares MSCI India	Pair Corr
0.98	EPI	WisdomTree India Earnings	Pair Corr
0.96	INDSX	Financial Investors Trust	Pair Corr
0.87	SMIN	iShares MSCI India	Pair Corr
0.98	PIN	Invesco India ETF	Pair Corr
0.99	FLIN	Franklin FTSE India	Pair Corr
0.91	GLIN	VanEck India Growth	Pair Corr
0.93	INDF	Exchange Traded Concepts	Pair Corr
0.78	DHF	BNY Mellon High	Pair Corr
0.8	MAGS	Roundhill Magnificent	Pair Corr
0.74	ARP	Advisors Inner Circle	Pair Corr
0.82	PXMV	Invesco SP MidCap	Pair Corr
0.76	IGA	Voya Global Advantage	Pair Corr
0.8	SEMI	Columbia Seligman	Pair Corr
0.82	PFUT	Putnam Sustainable Future	Pair Corr
0.73	VBF	Invesco Van Kampen	Pair Corr
0.82	CGGO	Capital Group Global	Pair Corr
0.74	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.81	BUFD	FT Cboe Vest	Pair Corr
0.64	HIDE	Alpha Architect High	Pair Corr
0.8	QTOC	Innovator ETFs Trust	Pair Corr
0.68	KGRN	KraneShares MSCI China	Pair Corr

Related Correlations Analysis

	FLIN	SMIN	INCO	INDY	GLIN
FLIN		0.91	0.82	0.97	0.94	FLIN
SMIN	0.91		0.6	0.79	0.97	SMIN
INCO	0.82	0.6		0.88	0.68	INCO
INDY	0.97	0.79	0.88		0.85	INDY
GLIN	0.94	0.97	0.68	0.85		GLIN
	FLIN	SMIN	INCO	INDY	GLIN

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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
FLIN	0.71	0.07	(0.03)	0.39	0.85	(0.74)	1.55	(1.38)	5.36
SMIN	0.92	0.14	0.04	0.56	1.04	(0.96)	1.79	(1.63)	5.50
INCO	0.77	0.04	(0.04)	0.29	1.02	(0.77)	1.76	(1.51)	5.83
INDY	0.69	0.05	(0.06)	0.33	0.74	(0.76)	1.65	(1.10)	5.01
GLIN	0.86	0.13	0.03	0.58	1.10	(0.90)	2.02	(1.45)	5.88

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First Trust Correlations

First Trust Correlation With Market

Modest diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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