First Trust Correlations

Etfs . USA . 
Etf . First Trust Expanded
XPND Etf  USD 33.62  0.32  0.94%   
The current 90-days correlation between First Trust Expanded and First Trust Exchange Traded is 0.08 (i.e., Significant 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

Very poor diversification

The correlation between First Trust Expanded and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Expanded and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in First Trust Expanded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with First Etf

  0.99VGT Vanguard InformationPairCorr
  0.99XLK Technology Select SectorPairCorr
  0.99IYW iShares Technology ETFPairCorr
  0.98SMH VanEck Semiconductor ETFPairCorr
  0.98SOXX iShares Semiconductor ETFPairCorr
  0.98CIBR First Trust NASDAQPairCorr
  0.99FTEC Fidelity MSCI InformationPairCorr
  0.99IGV iShares Expanded Tech Sell-off TrendPairCorr
  1.0FDN First Trust DowPairCorr
  1.0IGM iShares Expanded TechPairCorr
  0.95USD ProShares Ultra Semi Downward RallyPairCorr
  0.89GBTC Grayscale Bitcoin TrustPairCorr
  1.0FNGO MicroSectors FANG IndexPairCorr
  0.89BITO ProShares BitcoinPairCorr
  0.96CRPT First Trust SkyBridgePairCorr
  0.84NRGU Bank of MontrealPairCorr
  0.98BULZ MicroSectors SolactivePairCorr
  0.93BITS Global X BlockchainPairCorr
  1.0FNGG Direxion Daily SelectPairCorr
  0.96DFEN Direxion Daily AerospacePairCorr
  0.87DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.91AA Alcoa CorpPairCorr
  0.99MSFT MicrosoftPairCorr
  0.97DIS Walt DisneyPairCorr
  0.96JPM JPMorgan ChasePairCorr
  0.93BA Boeing Earnings Call This WeekPairCorr
  0.9MMM 3M CompanyPairCorr
  0.8CVX Chevron CorpPairCorr
  0.98CSCO Cisco Systems Sell-off TrendPairCorr

Moving against First Etf

  0.67MCD McDonaldsPairCorr
  0.57KO Coca Cola Earnings Call TodayPairCorr
  0.48PG Procter Gamble Earnings Call This WeekPairCorr
  0.38VZ 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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