First Trust Correlations

Etfs . USA . 
Etf . First Trust NASDAQ
TDIV Etf  USD 92.51  0.22  0.24%   
The current 90-days correlation between First Trust NASDAQ and Vanguard Information Technology is 0.15 (i.e., Average 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 and DJI is -0.07 (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 and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with First Etf
Check out World Market Map 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 gross domestic product.

Moving together with First Etf

  0.99VGT Vanguard InformationPairCorr
  0.99XLK Technology Select SectorPairCorr
  0.99IYW iShares Technology ETFPairCorr
  0.99SMH VanEck Semiconductor ETFPairCorr
  0.99SOXX iShares Semiconductor ETFPairCorr
  0.94CIBR First Trust NASDAQPairCorr
  0.99FTEC Fidelity MSCI InformationPairCorr
  0.94IGV iShares Expanded Tech Low VolatilityPairCorr
  0.96FDN First Trust DowPairCorr
  0.99IGM iShares Expanded TechPairCorr
  0.99USD ProShares Ultra SemiPairCorr
  0.88GBTC Grayscale Bitcoin TrustPairCorr
  0.98FNGO MicroSectors FANG IndexPairCorr
  0.87BITO ProShares BitcoinPairCorr
  0.97CRPT First Trust SkyBridgePairCorr
  0.88NRGU Bank of MontrealPairCorr
  0.98BULZ MicroSectors SolactivePairCorr
  0.94BITS Global X BlockchainPairCorr
  0.98FNGG Direxion Daily SelectPairCorr
  0.97DFEN Direxion Daily AerospacePairCorr
  0.87DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.91AA Alcoa CorpPairCorr
  0.97MSFT Microsoft Aggressive PushPairCorr
  0.95DIS Walt DisneyPairCorr
  0.98JPM JPMorgan Chase Sell-off TrendPairCorr
  0.91BA Boeing Earnings Call This WeekPairCorr
  0.86MMM 3M CompanyPairCorr
  0.63XOM Exxon Mobil CorpPairCorr
  0.87CVX Chevron CorpPairCorr
  0.98CSCO Cisco SystemsPairCorr

Moving against First Etf

  0.75MCD McDonaldsPairCorr
  0.58KO Coca Cola Earnings Call TodayPairCorr
  0.53PG Procter Gamble Earnings Call This WeekPairCorr
  0.43VZ Verizon Communications Aggressive PushPairCorr

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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