First Trust Correlations

FICS Etf

USD 38.60 0.15 0.39%

The current 90-days correlation between First Trust International and Strategy Shares is 0.37 (i.e., Weak 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 weak diversification

The correlation between First Trust International and DJI is 0.57 (i.e., Very weak 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 national income and product accounts.

Moving against First Etf

0.58	RAYS	Global X	Pair Corr
0.55	BSMS	Invesco BulletShares 2028	Pair Corr
0.53	PRXG	Praxis Funds	Pair Corr
0.49	XB	BondBloxx ETF Trust	Pair Corr
0.48	CETH	21shares Core Ethereum Symbol Change	Pair Corr
0.39	INCM	Franklin Templeton ETF	Pair Corr
0.37	CGXU	Capital Group Intern	Pair Corr
0.35	GRIN	VictoryShares International	Pair Corr
0.65	GE	GE Aerospace	Pair Corr
0.54	WMT	Walmart	Pair Corr
0.54	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.51	CAT	Caterpillar	Pair Corr
0.47	MSFT	Microsoft	Pair Corr
0.42	DFAC	Dimensional Core Equity	Pair Corr
0.39	HD	Home Depot	Pair Corr
0.39	TRV	The Travelers Companies Earnings Call Next Week	Pair Corr
0.38	INTC	Intel Aggressive Push	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	MCHI	DIVS	DIVZ	VT	MEMX	MFDX	MFEM
DHSB		0.91	0.97	0.51	0.9	0.98	0.9	0.92	0.92	DHSB
MBOX	0.91		0.91	0.73	0.76	0.94	0.87	0.88	0.91	MBOX
MCHI	0.97	0.91		0.57	0.87	0.97	0.91	0.89	0.95	MCHI
DIVS	0.51	0.73	0.57		0.44	0.62	0.61	0.63	0.64	DIVS
DIVZ	0.9	0.76	0.87	0.44		0.88	0.81	0.9	0.85	DIVZ
VT	0.98	0.94	0.97	0.62	0.88		0.95	0.92	0.96	VT
MEMX	0.9	0.87	0.91	0.61	0.81	0.95		0.82	0.96	MEMX
MFDX	0.92	0.88	0.89	0.63	0.9	0.92	0.82		0.89	MFDX
MFEM	0.92	0.91	0.95	0.64	0.85	0.96	0.96	0.89		MFEM
	DHSB	MBOX	MCHI	DIVS	DIVZ	VT	MEMX	MFDX	MFEM

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
DHSB	0.08	0.01	(0.42)	0.17	0.00	(0.11)	0.24	(0.12)	0.51
MBOX	0.46	0.01	(0.01)	0.07	0.40	(0.54)	1.18	(0.78)	2.35
MCHI	0.92	0.23	0.21	0.40	0.77	(1.10)	2.03	(1.60)	5.71
DIVS	0.42	(0.02)	(0.09)	0.03	0.49	(0.44)	0.91	(0.85)	2.42
DIVZ	0.36	0.02	(0.06)	0.10	0.29	(0.44)	0.80	(0.64)	2.13
VT	0.41	0.06	0.10	0.14	0.24	(0.46)	1.15	(0.62)	2.43
MEMX	0.56	0.10	0.10	0.28	0.46	(0.63)	1.30	(0.97)	2.72
MFDX	0.53	0.03	0.02	0.10	0.56	(0.57)	1.17	(1.11)	3.57
MFEM	0.49	0.06	0.04	0.18	0.43	(0.53)	0.96	(0.98)	2.56

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First Trust Correlations

First Trust Correlation With Market

Very weak diversification

Moving against First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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