First Trust Correlations
FPE Etf | USD 17.84 0.01 0.06% |
The current 90-days correlation between First Trust Preferred and Invesco Variable Rate is 0.68 (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.
First Trust Correlation With Market
Poor diversification
The correlation between First Trust Preferred 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 Preferred and DJI in the same portfolio, assuming nothing else is changed.
Moving together with First Etf
0.91 | PFF | iShares Preferred Sell-off Trend | PairCorr |
0.88 | PGX | Invesco Preferred ETF Sell-off Trend | PairCorr |
0.86 | PFFD | Global X Preferred | PairCorr |
0.99 | VRP | Invesco Variable Rate | PairCorr |
0.87 | PGF | Invesco Financial | PairCorr |
0.82 | PSK | SPDR ICE Preferred | PairCorr |
0.94 | PFXF | VanEck Preferred Sec | PairCorr |
0.98 | FPEI | First Trust Institutional | PairCorr |
0.88 | PFFA | Virtus InfraCap Preferred | PairCorr |
0.95 | VTI | Vanguard Total Stock | PairCorr |
0.95 | SPY | SPDR SP 500 | PairCorr |
0.95 | IVV | iShares Core SP | PairCorr |
0.69 | BND | Vanguard Total Bond Sell-off Trend | PairCorr |
0.96 | VTV | Vanguard Value Index | PairCorr |
0.94 | VUG | Vanguard Growth Index | PairCorr |
0.94 | VO | Vanguard Mid Cap | PairCorr |
0.94 | VEA | Vanguard FTSE Developed | PairCorr |
0.94 | VB | Vanguard Small Cap | PairCorr |
0.94 | VWO | Vanguard FTSE Emerging | PairCorr |
0.82 | Z | Zillow Group Class Earnings Call This Week | PairCorr |
0.85 | GBTC | Grayscale Bitcoin Trust | PairCorr |
0.96 | IXP | iShares Global Comm | PairCorr |
0.96 | MPRO | Northern Lights | PairCorr |
0.75 | GRW | TCW Compounders ETF | PairCorr |
0.92 | EWQ | iShares MSCI France | PairCorr |
0.96 | SPGP | Invesco SP 500 | PairCorr |
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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
VRP | 0.10 | 0.03 | (0.92) | 0.66 | 0.00 | 0.29 | 0.93 | |||
PFXF | 0.46 | 0.07 | (0.07) | 0.36 | 0.30 | 1.11 | 3.58 | |||
HYLS | 0.19 | 0.01 | (0.69) | 0.27 | 0.00 | 0.60 | 1.23 | |||
FTSL | 0.06 | 0.03 | (2.52) | 0.84 | 0.00 | 0.25 | 0.49 | |||
PSK | 0.38 | (0.02) | (0.36) | 0.15 | 0.38 | 0.77 | 2.42 |