First Trust Correlations

Etfs . USA . 
Etf . First Trust Mid
FNY Etf  USD 91.08  1.04  1.16%   
The current 90-days correlation between First Trust Mid and First Trust Small is 0.91 (i.e., Almost no 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 0.76 (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

  0.71VOT Vanguard Mid CapPairCorr
  0.9IWP iShares Russell MidPairCorr
  0.84ARKK ARK Innovation ETFPairCorr
  0.95IJK iShares SP MidPairCorr
  0.79JKH iShares Morningstar MidPairCorr
  0.96KOMP SPDR Kensho NewPairCorr
  0.95MDYG SPDR SP 400PairCorr
  0.79IMCG iShares Morningstar MidPairCorr
  0.88FPX First Trust EquityPairCorr
  0.94IVOG Vanguard SP MidPairCorr
  0.97WSML iShares MSCI WorldPairCorr
  0.93PULS PGIM Ultra ShortPairCorr
  0.95CPSR Calamos SP 500PairCorr
  0.97LCAP Principal CapitalPairCorr
  0.87VYMI Vanguard InternationalPairCorr
  0.9STXV EA Series TrustPairCorr
  0.73FMQQ FMQQ The NextPairCorr
  0.62FBY YieldMax META OptionPairCorr
  0.92GOF Guggenheim StrategicPairCorr
  0.85KBE SPDR SP BankPairCorr
  0.96XLC Communication ServicesPairCorr
  0.62XLV Health Care SelectPairCorr
  0.85NLR VanEck UraniumNuclearPairCorr
  0.96VOO Vanguard SP 500PairCorr
  0.72TETH TETH Symbol ChangePairCorr
  0.9TSI TCW Strategic IncomePairCorr
  0.89WFHY WisdomTree High YieldPairCorr
  0.77XHB SPDR SP HomebuildersPairCorr
  0.92FGRO Fidelity Growth OppoPairCorr
  0.74GUSYX Grandeur Peak StalwartsPairCorr
  0.89GLD SPDR Gold Shares Aggressive PushPairCorr
  0.91MIG VanEck Vectors MoodysPairCorr

Moving against First Etf

  0.87JEM 707 Cayman HoldingsPairCorr
  0.59SWIN Solowin Holdings OrdinaryPairCorr
  0.49SPAQ Horizon Kinetics SPACPairCorr
  0.73MPAY Exchange Traded ConceptsPairCorr

Related Correlations Analysis


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.

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
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY