First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange Traded
EIPX Etf  USD 25.98  0.18  0.70%   
The current 90-days correlation between First Trust Exchange and First Trust Exchange Traded is -0.04 (i.e., Good 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

Average diversification

The correlation between First Trust Exchange Traded and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange Traded and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with First Etf
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Exchange Traded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with First Etf

  0.87XLE Energy Select SectorPairCorr
  0.89VDE Vanguard Energy IndexPairCorr
  0.92XOP SPDR SP OilPairCorr
  0.84OIH VanEck Oil ServicesPairCorr
  0.88IYE iShares Energy ETFPairCorr
  0.92IXC iShares Global EnergyPairCorr
  0.88FXN First Trust EnergyPairCorr
  0.95FENY Fidelity MSCI EnergyPairCorr
  0.86FTXN First Trust NasdaqPairCorr
  0.95IEO iShares Oil GasPairCorr
  0.91USD ProShares Ultra SemiPairCorr
  0.77GBTC Grayscale Bitcoin TrustPairCorr
  0.89DFEN Direxion Daily AerospacePairCorr
  0.91FNGO MicroSectors FANG IndexPairCorr
  0.87DUSL Direxion Daily IndusPairCorr
  0.92TECL Direxion Daily TechnologyPairCorr
  0.84DIG ProShares Ultra OilPairCorr
  0.72MLPR ETRACS Quarterly PayPairCorr
  0.73MMM 3M CompanyPairCorr
  0.87CAT CaterpillarPairCorr
  0.84AXP American ExpressPairCorr
  0.85AA Alcoa CorpPairCorr
  0.8PFE Pfizer Inc Aggressive PushPairCorr
  0.88IBM International BusinessPairCorr
  0.85GE GE AerospacePairCorr
  0.72DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.79BA Boeing Earnings Call This WeekPairCorr
  0.89MSFT Microsoft Earnings Call This WeekPairCorr
  0.91CSCO Cisco SystemsPairCorr

Moving against First Etf

  0.66FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.8MCD McDonaldsPairCorr
  0.58KO Coca ColaPairCorr
  0.36VZ 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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