First Trust Correlations

XMAR Etf

39.46 0.06 0.15%

The current 90-days correlation between First Trust Exchange and AllianzIM Large Cap is 0.89 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Exchange and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in First Trust Exchange. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with First Etf

0.96	INOV	Innovator ETFs Trust	Pair Corr
0.99	BUFR	First Trust Cboe	Pair Corr
0.99	BUFD	FT Cboe Vest	Pair Corr
0.99	PSEP	Innovator SP 500	Pair Corr
1.0	PJAN	Innovator SP 500	Pair Corr
0.99	PJUL	Innovator SP 500	Pair Corr
0.99	PAUG	Innovator Equity Power	Pair Corr
1.0	DNOV	FT Cboe Vest	Pair Corr
0.99	PMAY	Innovator SP 500	Pair Corr
0.99	PJUN	Innovator SP 500	Pair Corr
0.79	GRI	GRI Bio	Pair Corr
0.67	MDY	SPDR SP MIDCAP	Pair Corr
0.7	SLYG	SPDR SP 600	Pair Corr
0.97	KRMA	Global X Conscious	Pair Corr
0.98	SPY	SPDR SP 500	Pair Corr
0.98	IVV	iShares Core SP	Pair Corr
0.84	TLT	iShares 20 Year	Pair Corr
0.83	SLYV	SPDR SP 600	Pair Corr
0.8	IGV	iShares Expanded Tech Sell-off Trend	Pair Corr
0.99	ITOT	iShares Core SP	Pair Corr
0.69	NVDY	YieldMax NVDA Option	Pair Corr
0.97	PRF	Invesco FTSE RAFI	Pair Corr
0.92	EMLC	VanEck JP Morgan	Pair Corr
0.93	UMMA	Wahed Dow Jones	Pair Corr
0.9	DWAS	Invesco DWA SmallCap	Pair Corr
0.83	IXJ	iShares Global Healthcare	Pair Corr
0.92	AHLT	American Beacon Select	Pair Corr
0.95	KARS	KraneShares Electric	Pair Corr
0.67	PGX	Invesco Preferred ETF	Pair Corr
0.72	INDE	Matthews International	Pair Corr
0.85	AIPO	Defiance AI Power	Pair Corr
0.96	SDTY	YieldMax SP 500	Pair Corr
0.93	FLJH	Franklin FTSE Japan	Pair Corr
0.92	SMH	VanEck Semiconductor ETF	Pair Corr
0.89	GENT	Spinnaker ETF Series	Pair Corr
0.99	XJUN	First Trust Exchange	Pair Corr
0.99	JUNP	PGIM Large Cap	Pair Corr
0.93	RDVI	FT Cboe Vest	Pair Corr

Moving against First Etf

0.56

NFLX

Netflix

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.03	-0.21	-0.59	0.72	-0.68	-0.42	-0.39	-0.43	-0.39	META
MSFT	-0.03		0.03	0.38	-0.58	0.35	-0.02	0.07	0.23	0.03	MSFT
UBER	-0.21	0.03		0.35	-0.09	0.26	0.07	0.72	0.14	0.61	UBER
F	-0.59	0.38	0.35		-0.68	0.79	0.56	0.46	0.56	0.65	F
T	0.72	-0.58	-0.09	-0.68		-0.83	-0.37	-0.26	-0.52	-0.35	T
A	-0.68	0.35	0.26	0.79	-0.83		0.46	0.47	0.71	0.63	A
CRM	-0.42	-0.02	0.07	0.56	-0.37	0.46		0.09	0.28	0.44	CRM
JPM	-0.39	0.07	0.72	0.46	-0.26	0.47	0.09		0.08	0.77	JPM
MRK	-0.43	0.23	0.14	0.56	-0.52	0.71	0.28	0.08		0.33	MRK
XOM	-0.39	0.03	0.61	0.65	-0.35	0.63	0.44	0.77	0.33		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

A	+ 0.79	F
XOM	+ 0.77	JPM
T	+ 0.72	META
JPM	+ 0.72	UBER
MRK	+ 0.71	A
XOM	+ 0.65	F

High negative correlations

A	- 0.83	T
T	- 0.68	F
A	- 0.68	META
F	- 0.59	META
T	- 0.58	MSFT
MRK	- 0.52	T

First Trust Competition 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
META	1.26	(0.38)	0.00	(0.22)	0.00	0.00	2.12	(2.32)	14.49
MSFT	0.74	(0.12)	0.00	(0.10)	0.00	0.00	1.77	(1.64)	5.08
UBER	1.52	(0.01)	(0.02)	0.08	1.94	(1.55)	3.62	(3.30)	9.09
F	1.35	0.13	0.11	0.18	1.47	(1.60)	3.62	(1.71)	16.35
T	0.98	(0.19)	0.00	(0.89)	0.00	0.00	1.84	(2.32)	6.47
A	1.32	0.25	0.21	0.28	0.97	(1.48)	3.82	(2.04)	10.46
CRM	1.56	(0.05)	(0.03)	0.05	2.04	(1.57)	3.59	(3.33)	8.74
JPM	0.81	0.01	0.01	0.11	1.05	(0.79)	1.67	(1.74)	4.74
MRK	1.17	0.01	(0.01)	0.11	1.19	(1.37)	1.80	(2.36)	11.45
XOM	0.85	0.05	0.00	0.20	1.04	(0.82)	1.77	(1.93)	4.70

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