First Trust Correlations

FGD Etf

USD 28.95 0.08 0.28%

The current 90-days correlation between First Trust Dow and First Trust STOXX is 0.84 (i.e., Very 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 Dow and DJI is 0.66 (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 rate.

Moving together with First Etf

0.94	EFV	iShares MSCI EAFE	Pair Corr
0.96	FNDF	Schwab Fundamental	Pair Corr
0.96	VYMI	Vanguard International	Pair Corr
0.94	IDV	iShares International	Pair Corr
0.96	DFIV	Dimensional International Sell-off Trend	Pair Corr
0.94	IVLU	iShares Edge MSCI	Pair Corr
0.96	RODM	Hartford Multifactor	Pair Corr
0.96	PXF	Invesco FTSE RAFI	Pair Corr
0.84	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.95	PID	Invesco International	Pair Corr
0.8	GDXU	MicroSectors Gold Miners	Pair Corr
0.8	JNUG	Direxion Daily Junior	Pair Corr
0.82	NUGT	Direxion Daily Gold	Pair Corr
0.73	TESL	Simplify Volt TSLA Symbol Change	Pair Corr
0.73	PSIL	AdvisorShares Psychedelics	Pair Corr
0.82	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.86	TRV	The Travelers Companies	Pair Corr
0.78	BAC	Bank of America	Pair Corr
0.73	DD	Dupont De Nemours	Pair Corr
0.78	CVX	Chevron Corp	Pair Corr
0.61	AXP	American Express	Pair Corr
0.71	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.89	HD	Home Depot	Pair Corr
0.61	INTC	Intel Aggressive Push	Pair Corr

Moving against First Etf

0.57	WTID	UBS ETRACS	Pair Corr
0.64	KO	Coca Cola	Pair Corr
0.6	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	FDD	FDL	DWX	DTH	EDIV
FDD		0.72	0.89	0.94	0.73	FDD
FDL	0.72		0.75	0.74	0.47	FDL
DWX	0.89	0.75		0.96	0.74	DWX
DTH	0.94	0.74	0.96		0.72	DTH
EDIV	0.73	0.47	0.74	0.72		EDIV
	FDD	FDL	DWX	DTH	EDIV

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FDD	0.71	0.02	0.01	0.09	0.79	(0.77)	1.33	(1.52)	4.08
FDL	0.58	(0.02)	(0.05)	0.05	0.60	(0.64)	1.23	(0.91)	2.84
DWX	0.47	0.00	(0.07)	0.06	0.54	(0.50)	1.02	(1.13)	2.51
DTH	0.53	0.05	0.04	0.14	0.53	(0.58)	1.05	(1.09)	2.90
EDIV	0.43	(0.02)	(0.09)	0.03	0.48	(0.45)	1.06	(0.84)	2.51

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