First Trust Correlations

FNY Etf

USD 90.85 0.58 0.64%

The current 90-days correlation between First Trust Mid and First Trust Emerging is 0.63 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Mid and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Mid 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 Mid. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with First Etf

0.81	VOT	Vanguard Mid Cap	Pair Corr
0.9	ARKK	ARK Innovation ETF	Pair Corr
0.81	IJK	iShares SP Mid	Pair Corr
0.82	JKH	iShares Morningstar Mid	Pair Corr
0.97	KOMP	SPDR Kensho New	Pair Corr
0.81	MDYG	SPDR SP 400	Pair Corr
0.82	IMCG	iShares Morningstar Mid	Pair Corr
0.9	FPX	First Trust Equity	Pair Corr
0.81	IVOG	Vanguard SP Mid	Pair Corr
0.73	USD	ProShares Ultra Semi	Pair Corr
0.67	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.87	DFEN	Direxion Daily Aerospace	Pair Corr
0.91	URNM	Sprott Uranium Miners	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.84	IBM	International Business	Pair Corr
0.76	AXP	American Express	Pair Corr
0.79	CAT	Caterpillar	Pair Corr
0.9	GE	GE Aerospace	Pair Corr
0.86	INTC	Intel	Pair Corr

Moving against First Etf

0.7	MLPR	ETRACS Quarterly Pay	Pair Corr
0.66	VZ	Verizon Communications	Pair Corr
0.62	T	ATT Inc	Pair Corr
0.6	BA	Boeing	Pair Corr
0.39	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	FEM	FAD	FYC	NBOS	FEP	BRNY	HAPI	FDV	BALI	AVSU
FEM		0.84	0.78	0.78	0.67	0.84	0.81	0.28	0.87	0.87	FEM
FAD	0.84		0.98	0.92	0.71	0.96	0.95	0.38	0.95	0.96	FAD
FYC	0.78	0.98		0.94	0.67	0.94	0.95	0.4	0.92	0.94	FYC
NBOS	0.78	0.92	0.94		0.69	0.95	0.96	0.22	0.95	0.95	NBOS
FEP	0.67	0.71	0.67	0.69		0.77	0.73	0.32	0.74	0.73	FEP
BRNY	0.84	0.96	0.94	0.95	0.77		0.96	0.28	0.99	0.97	BRNY
HAPI	0.81	0.95	0.95	0.96	0.73	0.96		0.35	0.97	0.98	HAPI
FDV	0.28	0.38	0.4	0.22	0.32	0.28	0.35		0.24	0.34	FDV
BALI	0.87	0.95	0.92	0.95	0.74	0.99	0.97	0.24		0.98	BALI
AVSU	0.87	0.96	0.94	0.95	0.73	0.97	0.98	0.34	0.98		AVSU
	FEM	FAD	FYC	NBOS	FEP	BRNY	HAPI	FDV	BALI	AVSU

Please upgrade your account to get full access to Macroaxis premium features

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
FEM	0.69	0.01	0.00	0.10	0.89	(0.73)	1.35	(1.38)	5.70
FAD	0.81	(0.03)	0.00	0.07	0.90	(0.86)	1.73	(1.69)	5.38
FYC	0.98	0.04	0.09	0.12	0.93	(1.12)	2.68	(1.75)	6.76
NBOS	0.26	0.02	(0.07)	0.15	0.22	(0.29)	0.48	(0.41)	2.19
FEP	0.57	(0.02)	(0.08)	0.06	0.67	(0.62)	1.18	(1.29)	3.08
BRNY	0.58	0.00	0.00	0.09	0.78	(0.58)	1.23	(1.12)	4.39
HAPI	0.47	(0.02)	(0.04)	0.07	0.56	(0.49)	1.21	(0.77)	3.89
FDV	0.50	(0.05)	(0.14)	0.03	0.48	(0.62)	1.20	(0.91)	2.59
BALI	0.39	(0.01)	(0.05)	0.08	0.50	(0.42)	0.91	(0.68)	3.61
AVSU	0.53	(0.02)	(0.01)	0.08	0.63	(0.55)	1.19	(0.83)	4.67

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC