First Trust Correlations

Etfs . USA . 
Etf . First Trust Large
FEX Etf  USD 111.34  0.04  0.04%   
The current 90-days correlation between First Trust Large and First Trust Large is -0.15 (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

Almost no diversification

The correlation between First Trust Large and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Large 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 Large. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with First Etf

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  0.75VIG Vanguard DividendPairCorr
  0.74VV Vanguard Large CapPairCorr
  0.74RSP Invesco SP 500 Sell-off TrendPairCorr
  0.74IWB iShares Russell 1000PairCorr
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  0.74VTV Vanguard Value IndexPairCorr
  0.73VUG Vanguard Growth IndexPairCorr
  0.73VO Vanguard Mid CapPairCorr
  0.76VEA Vanguard FTSE DevelopedPairCorr
  0.73VB Vanguard Small CapPairCorr
  0.65VABS Virtus Newfleet ABSMBSPairCorr
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  0.96DIS Walt DisneyPairCorr
  0.93AA Alcoa CorpPairCorr
  0.92MMM 3M CompanyPairCorr
  0.84CVX Chevron CorpPairCorr
  0.87PFE Pfizer IncPairCorr
  0.92DD Dupont De NemoursPairCorr
  0.97CSCO Cisco SystemsPairCorr
  0.62XOM Exxon Mobil CorpPairCorr
  0.98BAC Bank of AmericaPairCorr
  0.98CAT CaterpillarPairCorr
  0.98JPM JPMorgan ChasePairCorr
  0.79INTC Intel Earnings Call This WeekPairCorr

Moving against First Etf

  0.66MCD McDonaldsPairCorr
  0.52PG Procter GamblePairCorr
  0.36VZ Verizon Communications Earnings Call TomorrowPairCorr

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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