First Trust Correlations

Etfs . USA . 
Etf . First Trust Dow
FDN Etf  USD 268.54  0.49  0.18%   
The current 90-days correlation between First Trust Dow and First Trust Cloud is 0.94 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Dow moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Dow and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Dow 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 Dow. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Etf

  0.98VGT Vanguard InformationPairCorr
  0.98XLK Technology Select Sector Sell-off TrendPairCorr
  0.98IYW iShares Technology ETFPairCorr
  0.95SMH VanEck Semiconductor ETFPairCorr
  0.97SOXX iShares Semiconductor ETFPairCorr
  0.99CIBR First Trust NASDAQPairCorr
  0.98FTEC Fidelity MSCI InformationPairCorr
  0.99IGV iShares Expanded Tech Low VolatilityPairCorr
  0.99IGM iShares Expanded TechPairCorr
  0.93USD ProShares Ultra SemiPairCorr
  0.9GBTC Grayscale Bitcoin TrustPairCorr
  0.99FNGO MicroSectors FANG IndexPairCorr
  0.89BITO ProShares BitcoinPairCorr
  0.95CRPT First Trust SkyBridgePairCorr
  0.83NRGU Bank of MontrealPairCorr
  0.97BULZ MicroSectors SolactivePairCorr
  0.92BITS Global X BlockchainPairCorr
  0.99FNGG Direxion Daily SelectPairCorr
  0.95DFEN Direxion Daily AerospacePairCorr
  0.87DD Dupont De NemoursPairCorr
  0.9AA Alcoa CorpPairCorr
  0.98MSFT MicrosoftPairCorr
  0.97DIS Walt DisneyPairCorr
  0.95JPM JPMorgan ChasePairCorr
  0.94BA BoeingPairCorr
  0.9MMM 3M CompanyPairCorr
  0.76CVX Chevron CorpPairCorr
  0.95CSCO Cisco SystemsPairCorr

Moving against First Etf

  0.63MCD McDonaldsPairCorr
  0.57KO Coca Cola Earnings Call This WeekPairCorr
  0.48PG Procter GamblePairCorr
  0.34VZ Verizon Communications 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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