First Trust Correlations

QTEC Etf

USD 217.93 1.01 0.47%

The current 90-days correlation between First Trust NASDAQ and First Trust Dow is 0.8 (i.e., Very poor 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

Significant diversification

The correlation between First Trust NASDAQ 100 Technol and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust NASDAQ 100 Technol 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 Technology. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with First Etf

0.87	VGT	Vanguard Information	Pair Corr
0.87	XLK	Technology Select Sector	Pair Corr
0.87	IYW	iShares Technology ETF	Pair Corr
0.89	SMH	VanEck Semiconductor ETF	Pair Corr
0.66	SOXX	iShares Semiconductor ETF	Pair Corr
0.79	CIBR	First Trust NASDAQ	Pair Corr
0.87	FTEC	Fidelity MSCI Information	Pair Corr
0.81	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.84	FDN	First Trust Dow	Pair Corr
0.87	IGM	iShares Expanded Tech	Pair Corr
0.73	USD	ProShares Ultra Semi	Pair Corr
0.76	BITO	ProShares Bitcoin	Pair Corr
0.87	CRPT	First Trust SkyBridge	Pair Corr
0.88	BULZ	MicroSectors Solactive	Pair Corr
0.84	BITS	Global X Blockchain	Pair Corr
0.86	FNGG	Direxion Daily Select	Pair Corr
0.67	DFEN	Direxion Daily Aerospace	Pair Corr
0.65	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.65	CVX	Chevron Corp	Pair Corr
0.68	CSCO	Cisco Systems	Pair Corr

Moving against First Etf

0.72	MCD	McDonalds	Pair Corr
0.44	KO	Coca Cola Earnings Call Today	Pair Corr

Related Correlations Analysis

	FDN	FXL	PNQI	QQEW
FDN		0.99	0.84	0.72	FDN
FXL	0.99		0.83	0.72	FXL
PNQI	0.84	0.83		0.61	PNQI
QQEW	0.72	0.72	0.61		QQEW
	FDN	FXL	PNQI	QQEW

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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
FDN	0.89	0.36	0.32	3.08	0.16	(1.14)	1.75	(1.28)	5.54
FXL	0.87	0.36	0.30	2.05	0.22	(1.08)	2.13	(1.29)	6.19
PNQI	0.76	0.33	0.31	(14.68)	0.00	(0.99)	1.95	(1.05)	5.55
QQEW	0.75	0.27	0.12	(1.72)	0.55	(0.83)	1.94	(1.53)	5.27

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