First Trust Correlations

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 0.62 (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

0.91	XLF	Financial Select Sector	Pair Corr
0.99	KRE	SPDR SP Regional	Pair Corr
0.99	KBE	SPDR SP Bank	Pair Corr
0.92	IYF	iShares Financials ETF	Pair Corr
0.92	FNCL	Fidelity MSCI Financials	Pair Corr
0.93	IYG	iShares Financial	Pair Corr
0.79	EUFN	iShares MSCI Europe	Pair Corr
0.94	FXO	First Trust Financials	Pair Corr
0.97	IAT	iShares Regional Banks	Pair Corr
0.79	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.83	USD	ProShares Ultra Semi	Pair Corr
0.78	DFEN	Direxion Daily Aerospace	Pair Corr
0.78	FNGO	MicroSectors FANG Index	Pair Corr
0.86	DUSL	Direxion Daily Indus	Pair Corr
0.87	UPRO	ProShares UltraPro SP500	Pair Corr
0.64	DIG	ProShares Ultra Oil	Pair Corr
0.72	GRW	TCW Compounders ETF	Pair Corr

Moving against First Etf

0.5	TRV	The Travelers Companies	Pair Corr
0.38	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	KBWR	PSCF	FTXO	QQXT	AIRR
KBWR		0.97	0.96	0.77	0.9	KBWR
PSCF	0.97		0.99	0.82	0.95	PSCF
FTXO	0.96	0.99		0.84	0.97	FTXO
QQXT	0.77	0.82	0.84		0.89	QQXT
AIRR	0.9	0.95	0.97	0.89		AIRR
	KBWR	PSCF	FTXO	QQXT	AIRR

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
KBWR	1.09	0.00	0.00	0.21	1.03	(1.38)	2.48	(1.54)	8.02
PSCF	0.89	0.01	(0.01)	0.22	0.92	(1.06)	2.12	(1.45)	6.24
FTXO	0.98	0.11	0.09	0.32	0.84	(1.20)	2.50	(1.34)	7.66
QQXT	0.58	0.02	(0.08)	0.23	0.48	(0.68)	1.33	(1.07)	4.06
AIRR	0.94	0.15	0.16	0.38	0.36	(1.23)	2.49	(1.28)	6.38

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