First Trust Correlations

FPEI Etf

USD 19.41 0.03 0.15%

The current 90-days correlation between First Trust Institutional and Series Portfolios Trust is 0.51 (i.e., Very 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.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Institutional and DJI is 0.45 (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 Institutional 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 Institutional. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in banks.

Moving together with First Etf

0.95	FPE	First Trust Preferred	Pair Corr
0.83	VRP	Invesco Variable Rate	Pair Corr
0.88	SIXD	AIM ETF Products	Pair Corr
0.79	QUAL	iShares MSCI USA	Pair Corr
0.86	DRIV	Global X Autonomous	Pair Corr
0.9	AJUL	Innovator Equity Defined	Pair Corr
0.85	CPRO	Calamos ETF Trust	Pair Corr
0.8	SPCX	SPAC and New	Pair Corr
0.79	GCOR	Goldman Sachs Access	Pair Corr
0.63	GENT	Spinnaker ETF Series	Pair Corr
0.78	EYLD	Cambria Emerging Sha	Pair Corr
0.69	IBCA	iShares Trust	Pair Corr
0.69	IVV	iShares Core SP	Pair Corr
0.64	CGBL	Capital Group Core	Pair Corr
0.9	AAAA	Amplius Aggressive Asset	Pair Corr
0.68	SGVT	Schwab Strategic Trust	Pair Corr
0.88	DBB	Invesco DB Base	Pair Corr
0.73	PPI	Investment Managers	Pair Corr
0.64	SCHG	Schwab Large Cap	Pair Corr
0.7	FMED	Fidelity Disruptive	Pair Corr

Moving against First Etf

0.38	PFFD	Global X Preferred	Pair Corr
0.38	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.37	PGX	Invesco Preferred ETF	Pair Corr
0.36	PFF	iShares Preferred	Pair Corr
0.34	PGF	Invesco Financial	Pair Corr
0.34	PSK	SPDR ICE Preferred	Pair Corr
0.34	PFFA	Virtus InfraCap Preferred	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.52	0.54	-0.74	0.7	-0.75	0.43	-0.13	-0.69	-0.67	META
MSFT	0.52		0.73	-0.15	-0.07	-0.17	0.63	0.18	-0.54	-0.27	MSFT
UBER	0.54	0.73		-0.46	0.26	-0.56	0.46	0.3	-0.79	-0.36	UBER
F	-0.74	-0.15	-0.46		-0.74	0.83	-0.13	0.24	0.66	0.72	F
T	0.7	-0.07	0.26	-0.74		-0.88	0.03	-0.11	-0.5	-0.48	T
A	-0.75	-0.17	-0.56	0.83	-0.88		-0.2	0.01	0.77	0.52	A
CRM	0.43	0.63	0.46	-0.13	0.03	-0.2		-0.12	-0.56	-0.36	CRM
JPM	-0.13	0.18	0.3	0.24	-0.11	0.01	-0.12		-0.11	0.28	JPM
MRK	-0.69	-0.54	-0.79	0.66	-0.5	0.77	-0.56	-0.11		0.53	MRK
XOM	-0.67	-0.27	-0.36	0.72	-0.48	0.52	-0.36	0.28	0.53		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

A	+ 0.83	F
MRK	+ 0.77	A
UBER	+ 0.73	MSFT
XOM	+ 0.72	F
T	+ 0.7	META
MRK	+ 0.66	F

High negative correlations

A	- 0.88	T
MRK	- 0.79	UBER
A	- 0.75	META
T	- 0.74	F
F	- 0.74	META
MRK	- 0.69	META

First Trust Competition 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
META	1.31	(0.24)	0.00	(0.19)	0.00	0.00	2.18	(2.72)	13.52
MSFT	0.88	(0.10)	0.00	(0.06)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.47	(0.14)	0.00	1.83	0.00	0.00	3.34	(3.30)	10.91
F	1.48	0.10	0.07	0.12	1.65	(1.71)	3.38	(2.35)	16.30
T	0.98	(0.22)	0.00	(0.46)	0.00	0.00	1.84	(2.32)	6.25
A	1.28	0.20	0.15	0.22	1.18	(1.41)	2.60	(2.21)	11.03
CRM	1.63	(0.18)	0.00	(0.11)	0.00	0.00	3.22	(3.61)	9.91
JPM	0.93	(0.02)	(0.01)	0.03	1.31	(0.90)	1.69	(1.91)	5.76
MRK	1.38	0.26	0.18	0.40	1.12	(1.80)	4.84	(2.60)	11.45
XOM	0.94	0.02	(0.02)	0.21	1.21	(0.87)	1.77	(1.93)	4.63

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