First Trust Correlations

Etfs . USA . 
Etf . First Trust Multi
FAD Etf  USD 149.48  0.16  0.11%   
The current 90-days correlation between First Trust Multi and First Trust Multi is 0.73 (i.e., 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.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Multi 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 Multi 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 Multi. 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

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  0.99JKH iShares Morningstar MidPairCorr
  0.99KOMP SPDR Kensho NewPairCorr
  0.99IMCG iShares Morningstar MidPairCorr
  0.69DFEN Direxion Daily AerospacePairCorr
  0.68BUFD FT Cboe VestPairCorr
  0.61BAC Bank of AmericaPairCorr
  0.64AXP American ExpressPairCorr
  0.72CSCO Cisco SystemsPairCorr
  0.63AA Alcoa CorpPairCorr
  0.61CVX Chevron CorpPairCorr
  0.64MSFT MicrosoftPairCorr

Moving against First Etf

  0.51WTID UBS ETRACSPairCorr
  0.41KO Coca Cola Earnings Call This WeekPairCorr

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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