First Trust Correlations

BUFR Etf

USD 34.05 0.02 0.06%

The current 90-days correlation between First Trust Cboe and Capital Group Core is 0.95 (i.e., Almost no 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

Very poor diversification

The correlation between First Trust Cboe and DJI is 0.83 (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 Cboe 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 Cboe. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with First Etf

0.91	INOV	Innovator ETFs Trust	Pair Corr
0.99	BUFD	FT Cboe Vest	Pair Corr
0.98	PSEP	Innovator SP 500	Pair Corr
0.97	PJAN	Innovator SP 500	Pair Corr
0.99	PJUL	Innovator SP 500	Pair Corr
0.99	PAUG	Innovator Equity Power	Pair Corr
0.89	DNOV	FT Cboe Vest	Pair Corr
0.97	PMAY	Innovator SP 500	Pair Corr
0.94	ITDD	iShares Trust	Pair Corr
0.75	AMPD	Tidal ETF Services	Pair Corr
0.96	CPST	Calamos ETF Trust	Pair Corr
0.75	ITWO	Proshares Russell 2000	Pair Corr
0.62	KO	Coca Cola Aggressive Push	Pair Corr
0.73	MMM	3M Company	Pair Corr
0.74	DD	Dupont De Nemours	Pair Corr
0.72	CSCO	Cisco Systems	Pair Corr
0.67	MRK	Merck Company Aggressive Push	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr
0.81	BAC	Bank of America Aggressive Push	Pair Corr
0.75	INTC	Intel	Pair Corr

Moving against First Etf

0.67	PG	Procter Gamble	Pair Corr
0.67	T	ATT Inc	Pair Corr
0.47	VZ	Verizon Communications	Pair Corr
0.31	BA	Boeing	Pair Corr

Related Correlations Analysis

	CGUS	SSO	VCR	SPLV	XLRE	FDN	VIS	VCDAX	JQUA	IJJ
CGUS		0.98	0.48	-0.33	-0.09	0.14	0.82	0.48	0.35	0.54	CGUS
SSO	0.98		0.43	-0.39	-0.13	0.11	0.84	0.43	0.35	0.5	SSO
VCR	0.48	0.43		0.04	0.46	0.75	0.61	1.0	0.52	0.67	VCR
SPLV	-0.33	-0.39	0.04		0.7	0.14	-0.2	0.04	0.06	0.17	SPLV
XLRE	-0.09	-0.13	0.46	0.7		0.58	0.15	0.46	0.27	0.25	XLRE
FDN	0.14	0.11	0.75	0.14	0.58		0.4	0.76	0.19	0.24	FDN
VIS	0.82	0.84	0.61	-0.2	0.15	0.4		0.61	0.45	0.64	VIS
VCDAX	0.48	0.43	1.0	0.04	0.46	0.76	0.61		0.52	0.67	VCDAX
JQUA	0.35	0.35	0.52	0.06	0.27	0.19	0.45	0.52		0.72	JQUA
IJJ	0.54	0.5	0.67	0.17	0.25	0.24	0.64	0.67	0.72		IJJ
	CGUS	SSO	VCR	SPLV	XLRE	FDN	VIS	VCDAX	JQUA	IJJ

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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

VCDAX	+ 1.0	VCR
SSO	+ 0.98	CGUS
VIS	+ 0.84	SSO
VIS	+ 0.82	CGUS
VCDAX	+ 0.76	FDN
FDN	+ 0.75	VCR

High negative correlations

SPLV	- 0.39	SSO
SPLV	- 0.33	CGUS
VIS	- 0.2	SPLV
XLRE	- 0.13	SSO
XLRE	- 0.09	CGUS

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
CGUS	0.56	(0.04)	(0.05)	0.02	0.88	(0.50)	1.22	(1.36)	3.32
SSO	1.10	(0.03)	0.01	0.05	1.73	(1.03)	2.38	(2.37)	6.59
VCR	0.93	(0.07)	(0.04)	0.01	1.34	(0.85)	2.30	(2.33)	5.20
SPLV	0.50	(0.07)	0.00	(0.14)	0.00	0.00	1.04	(1.08)	3.05
XLRE	0.57	(0.10)	0.00	(0.12)	0.00	0.00	1.12	(1.31)	4.18
FDN	0.88	(0.15)	0.00	(0.07)	0.00	0.00	1.72	(2.46)	4.67
VIS	0.76	(0.03)	(0.02)	0.04	0.97	(0.75)	1.41	(1.51)	3.64
VCDAX	0.93	(0.07)	(0.04)	0.01	1.29	(0.85)	2.20	(2.34)	5.23
JQUA	0.53	0.03	(0.05)	(0.34)	0.71	(0.53)	1.10	(1.10)	3.00
IJJ	0.74	(0.05)	(0.04)	0.02	0.97	(0.73)	1.85	(1.31)	4.07

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