First Trust Correlations

Etfs . USA . 
Etf . First Trust NASDAQ 100
QQXT Etf  USD 99.19  0.73  0.74%   
The current 90-days correlation between First Trust NASDAQ and First Trust NASDAQ 100 is -0.12 (i.e., Good 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

Good diversification

The correlation between First Trust NASDAQ 100 and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NASDAQ 100 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 100. 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

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  0.9VIG Vanguard DividendPairCorr
  0.92VV Vanguard Large CapPairCorr
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  0.92IWB iShares Russell 1000PairCorr
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  0.88VTV Vanguard Value IndexPairCorr
  0.93VUG Vanguard Growth IndexPairCorr
  0.93VO Vanguard Mid CapPairCorr
  0.92VEA Vanguard FTSE DevelopedPairCorr
  0.92VB Vanguard Small CapPairCorr
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  0.82KGRN KraneShares MSCI ChinaPairCorr
  0.94BUFD FT Cboe VestPairCorr
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  0.74PFE Pfizer IncPairCorr
  0.82DD Dupont De NemoursPairCorr
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  0.91BAC Bank of AmericaPairCorr
  0.87CAT CaterpillarPairCorr
  0.86JPM JPMorgan ChasePairCorr
  0.65HD Home DepotPairCorr

Moving against First Etf

  0.46MCD McDonaldsPairCorr

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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