First Trust Correlations

Etfs . USA . 
Etf . First Trust NASDAQ
QABA Etf  USD 57.27  0.05  0.09%   
The current 90-days correlation between First Trust NASDAQ and Invesco KBW Regional 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.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust NASDAQ and DJI is 0.74 (i.e., Poor 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.
  
Build AI portfolio with First Etf
Check out Your Equity Center 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 bureau of labor statistics.

Moving together with First Etf

  0.92XLF Financial Select SectorPairCorr
  0.93VFH Vanguard Financials IndexPairCorr
  0.96KRE SPDR SP RegionalPairCorr
  0.99KBE SPDR SP BankPairCorr
  0.93IYF iShares Financials ETFPairCorr
  0.93FNCL Fidelity MSCI FinancialsPairCorr
  0.93IYG iShares FinancialPairCorr
  0.84EUFN iShares MSCI EuropePairCorr
  0.95FXO First Trust FinancialsPairCorr
  0.98IAT iShares Regional BanksPairCorr
  0.84GBTC Grayscale Bitcoin TrustPairCorr
  0.85USD ProShares Ultra SemiPairCorr
  0.82DFEN Direxion Daily AerospacePairCorr
  0.83FNGO MicroSectors FANG IndexPairCorr
  0.89DUSL Direxion Daily IndusPairCorr
  0.89UPRO ProShares UltraPro SP500PairCorr
  0.68DIG ProShares Ultra OilPairCorr
  0.78GRW TCW Compounders ETFPairCorr
  0.74PFE Pfizer IncPairCorr
  0.62HD Home DepotPairCorr
  0.77CVX Chevron CorpPairCorr
  0.87BA Boeing Earnings Call This WeekPairCorr
  0.86BAC Bank of America Aggressive PushPairCorr
  0.88MMM 3M Company Sell-off TrendPairCorr
  0.86AA Alcoa CorpPairCorr
  0.87INTC Intel Earnings Call TodayPairCorr
  0.92CAT CaterpillarPairCorr
  0.76GE GE AerospacePairCorr
  0.74IBM International BusinessPairCorr
  0.89JPM JPMorgan ChasePairCorr
  0.77DIS Walt DisneyPairCorr

Moving against First Etf

  0.32FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.51MCD McDonaldsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY