First Trust Correlations

Etfs . USA . 
Etf . First Trust SSI
FCVT Etf  USD 35.57  0.16  0.45%   
The current 90-days correlation between First Trust SSI and First Trust Emerging is 0.28 (i.e., Modest 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 SSI 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 SSI and DJI in the same portfolio, assuming nothing else is changed.
  
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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

  0.96ICVT iShares Convertible BondPairCorr
  0.91QCON American Century QualityPairCorr
  0.93VTI Vanguard Total StockPairCorr
  0.93SPY SPDR SP 500PairCorr
  0.93IVV iShares Core SPPairCorr
  0.84VTV Vanguard Value IndexPairCorr
  0.94VUG Vanguard Growth IndexPairCorr
  0.98VO Vanguard Mid CapPairCorr
  0.98VB Vanguard Small CapPairCorr
  0.69WMT Walmart Aggressive PushPairCorr
  0.81CSCO Cisco Systems Earnings Call This WeekPairCorr
  0.94JPM JPMorgan ChasePairCorr
  0.75MMM 3M CompanyPairCorr
  0.72PFE Pfizer IncPairCorr
  0.79AA Alcoa Corp Earnings Call This WeekPairCorr
  0.84GE GE Aerospace Sell-off TrendPairCorr
  0.77MSFT Microsoft Aggressive PushPairCorr
  0.9HPQ HP IncPairCorr
  0.97AXP American ExpressPairCorr
  0.88HD Home Depot Earnings Call This WeekPairCorr
  0.83IBM International Business Sell-off TrendPairCorr

Moving against First Etf

  0.76SGOV iShares 0 3PairCorr
  0.57BND Vanguard Total BondPairCorr
  0.64VZ Verizon Communications Aggressive PushPairCorr
  0.63T ATT Inc Earnings Call TodayPairCorr
  0.41MCD McDonaldsPairCorr

Related Correlations Analysis

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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   
LMBS
+ 0.89
FIXD
LMBS
+ 0.5
FEMB
FTSL
+ 0.33
FEMB
FIXD
+ 0.32
FEMB
FTSL
+ 0.3
FMB
FIXD
+ 0.08
FMB
  
High negative correlations   
FMB
- 0.46
FEMB
LMBS
- 0.22
FMB
FTSL
- 0.03
FIXD

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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