First Trust Correlations

BNGE Etf

USD 36.16 0.21 0.58%

The current 90-days correlation between First Trust S and Global X Disruptive is 0.11 (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.

First Trust Correlation With Market

Very good diversification

The correlation between First Trust S Network and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust S Network and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in First Trust S Network. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with First Etf

0.81	ESPO	VanEck Video Gaming	Pair Corr
0.64	HERO	Global X Video	Pair Corr
0.82	GAMR	Amplify Video Game	Pair Corr
0.83	MSFT	Microsoft Aggressive Push	Pair Corr
0.82	HPQ	HP Inc	Pair Corr

Moving against First Etf

0.64	LIT	Global X Lithium	Pair Corr
0.62	JANH	Innovator Equity Premium	Pair Corr
0.57	INR	Infinity Natural Res	Pair Corr
0.5	DUKH	Ocean Park High	Pair Corr
0.49	FB	ProShares Trust ProShares	Pair Corr
0.49	IWD	iShares Russell 1000	Pair Corr
0.42	LITL	Simplify Exchange Traded Potential Growth	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr
0.7	MRK	Merck Company Earnings Call This Week	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.61	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.5	WMT	Walmart Common Stock	Pair Corr
0.41	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.4	TRV	The Travelers Companies	Pair Corr
0.33	EEMX	SPDR MSCI Emerging	Pair Corr

Related Correlations Analysis

	OCFS	IVRS	VICE	MOTO	SPUT	RITA	ANEW	MAPP	CLIX	DMAT
OCFS		-0.52	-0.31	0.52	0.64	-0.14	-0.27	0.62	0.24	0.72	OCFS
IVRS	-0.52		0.62	0.17	-0.11	0.28	0.74	0.0	0.22	-0.15	IVRS
VICE	-0.31	0.62		0.33	0.1	0.56	0.73	0.34	0.36	0.16	VICE
MOTO	0.52	0.17	0.33		0.74	0.16	0.38	0.9	0.7	0.87	MOTO
SPUT	0.64	-0.11	0.1	0.74		0.16	0.37	0.87	0.77	0.76	SPUT
RITA	-0.14	0.28	0.56	0.16	0.16		0.53	0.3	0.18	0.2	RITA
ANEW	-0.27	0.74	0.73	0.38	0.37	0.53		0.43	0.61	0.19	ANEW
MAPP	0.62	0.0	0.34	0.9	0.87	0.3	0.43		0.72	0.94	MAPP
CLIX	0.24	0.22	0.36	0.7	0.77	0.18	0.61	0.72		0.56	CLIX
DMAT	0.72	-0.15	0.16	0.87	0.76	0.2	0.19	0.94	0.56		DMAT
	OCFS	IVRS	VICE	MOTO	SPUT	RITA	ANEW	MAPP	CLIX	DMAT

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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

DMAT	+ 0.94	MAPP
MAPP	+ 0.9	MOTO
DMAT	+ 0.87	MOTO
MAPP	+ 0.87	SPUT
CLIX	+ 0.77	SPUT
DMAT	+ 0.76	SPUT

High negative correlations

IVRS	- 0.52	OCFS
VICE	- 0.31	OCFS
ANEW	- 0.27	OCFS
DMAT	- 0.15	IVRS
RITA	- 0.14	OCFS
SPUT	- 0.11	IVRS

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
OCFS	0.53	0.04	(0.05)	(0.62)	0.56	(0.69)	1.34	(0.92)	2.95
IVRS	1.02	(0.14)	0.00	3.56	0.00	0.00	1.78	(2.54)	8.70
VICE	0.66	(0.04)	(0.08)	(0.01)	0.96	(0.58)	1.55	(1.53)	3.45
MOTO	0.94	0.13	0.06	0.72	1.20	(0.97)	1.95	(2.45)	5.05
SPUT	0.34	0.00	(0.07)	0.06	0.43	(0.33)	0.56	(0.67)	2.32
RITA	0.48	(0.04)	0.00	(0.05)	0.00	0.00	0.87	(1.21)	2.80
ANEW	0.59	(0.06)	(0.09)	(0.01)	0.81	(0.59)	1.18	(1.41)	3.38
MAPP	0.40	0.04	0.02	0.15	0.38	(0.43)	0.81	(0.82)	2.32
CLIX	0.92	0.03	0.01	0.12	1.19	(0.89)	1.89	(1.92)	4.59
DMAT	1.55	0.54	0.28	0.67	1.53	(1.83)	3.08	(2.96)	7.36

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