First Trust Correlations

FCVT Etf  USD 39.84  0.08  0.20%   
The current 90-days correlation between First Trust SSI and First Trust Emerging is 0.03 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust SSI and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust SSI and DJI in the same portfolio, assuming nothing else is changed.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust SSI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with First Etf

  0.99ICVT iShares Convertible BondPairCorr
  0.98QCON American Century QualityPairCorr
  0.86PFFL ETRACS 2xMonthly PayPairCorr
  0.98ITDD iShares TrustPairCorr
  0.7PMBS PIMCO Mortgage BackedPairCorr
  0.78GRW TCW Compounders ETFPairCorr
  0.96MSFT Microsoft Earnings Call This WeekPairCorr
  0.87MMM 3M CompanyPairCorr
  0.95BAC Bank of America Aggressive PushPairCorr
  0.92DIS Walt DisneyPairCorr
  0.99CAT CaterpillarPairCorr
  0.92AXP American Express Sell-off TrendPairCorr
  0.95BA Boeing Earnings Call This WeekPairCorr
  0.97JPM JPMorgan Chase Sell-off TrendPairCorr
  0.87IBM International BusinessPairCorr
  0.91DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.9AA Alcoa CorpPairCorr
  0.84PFE Pfizer Inc Sell-off TrendPairCorr

Moving against First Etf

  0.77MPAY Exchange Traded ConceptsPairCorr
  0.61KO Coca Cola Sell-off TrendPairCorr
  0.5PG Procter Gamble 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.