First Trust Correlations

Etfs . USA . 
Etf . First Trust International
FICS Etf  USD 39.97  0.55  1.40%   
The current 90-days correlation between First Trust International and Strategy Shares is 0.12 (i.e., Average 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

Good diversification

The correlation between First Trust International and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust International 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 International. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with First Etf

  0.88EFG iShares MSCI EAFEPairCorr
  0.91VIGI Vanguard InternationalPairCorr
  0.84IHDG WisdomTree InternationalPairCorr
  0.88CGXU Capital Group InternPairCorr
  0.85DNL WisdomTree GlobalPairCorr
  0.79FPXI First Trust InternationalPairCorr
  0.85IQDG WisdomTree InternationalPairCorr
  0.83PIZ Invesco DWA DevelopedPairCorr
  0.92IDHQ Invesco SP InternationalPairCorr
  0.94BKCI BNY Mellon ETFPairCorr
  0.81ITDD iShares TrustPairCorr
  0.89IDVZ Opal InternationalPairCorr
  0.68BILS SPDR Series TrustPairCorr
  0.62DIAL Columbia DiversifiedPairCorr
  0.66IBLC iShares Blockchain andPairCorr
  0.77SUPP TCW Transform SupplyPairCorr
  0.74FXD First Trust ConsumerPairCorr
  0.76PJAN Innovator SP 500PairCorr
  0.72CPSD Calamos ETF TrustPairCorr
  0.75DFEB FT Cboe VestPairCorr
  0.64UFO Procure Space ETFPairCorr
  0.86EFV iShares MSCI EAFE Low VolatilityPairCorr
  0.82VXUS Vanguard Total InterPairCorr
  0.77FDLO Fidelity Low VolatilityPairCorr
  0.88PAWZ ProShares Pet CarePairCorr
  0.74VGT Vanguard InformationPairCorr
  0.73NLR VanEck UraniumNuclearPairCorr
  0.74RISN Inspire Tactical BalancedPairCorr
  0.7USD ProShares Ultra SemiPairCorr
  0.71TECL Direxion Daily TechnologyPairCorr
  0.68DFAT Dimensional TargetedPairCorr

Moving against First Etf

  0.68MPAY Exchange Traded ConceptsPairCorr

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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