First Trust Correlations

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.

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Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with First Etf

0.88	PFF	iShares Preferred	Pair Corr
0.99	FPE	First Trust Preferred	Pair Corr
0.82	PGX	Invesco Preferred ETF	Pair Corr
0.78	PFFD	Global X Preferred	Pair Corr
0.74	PGF	Invesco Financial	Pair Corr
0.76	PSK	SPDR ICE Preferred	Pair Corr
0.9	PFXF	VanEck Preferred Sec	Pair Corr
0.82	PFFA	Virtus InfraCap Preferred	Pair Corr
0.87	EMCB	WisdomTree Emerging	Pair Corr
0.94	EU	enCore Energy Corp	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.9	IBM	International Business	Pair Corr
0.93	DIS	Walt Disney	Pair Corr
0.63	BAC	Bank of America Aggressive Push	Pair Corr
0.73	MMM	3M Company	Pair Corr

Moving against First Etf

0.7	MCD	McDonalds	Pair Corr
0.44	TRV	The Travelers Companies	Pair Corr
0.43	HPQ	HP Inc	Pair Corr
0.38	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.95	0.68	0.72	0.33	0.88	-0.36	0.66	0.23	0.53	META
MSFT	0.95		0.72	0.79	0.22	0.8	-0.39	0.64	0.28	0.52	MSFT
UBER	0.68	0.72		0.85	0.17	0.66	0.17	0.61	0.18	0.49	UBER
F	0.72	0.79	0.85		0.19	0.74	-0.16	0.63	0.46	0.66	F
T	0.33	0.22	0.17	0.19		0.4	-0.14	0.46	0.18	0.19	T
A	0.88	0.8	0.66	0.74	0.4		-0.27	0.52	0.41	0.55	A
CRM	-0.36	-0.39	0.17	-0.16	-0.14	-0.27		-0.24	-0.57	-0.36	CRM
JPM	0.66	0.64	0.61	0.63	0.46	0.52	-0.24		0.13	0.6	JPM
MRK	0.23	0.28	0.18	0.46	0.18	0.41	-0.57	0.13		0.47	MRK
XOM	0.53	0.52	0.49	0.66	0.19	0.55	-0.36	0.6	0.47		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

MSFT	+ 0.95	META
A	+ 0.88	META
F	+ 0.85	UBER
A	+ 0.8	MSFT
F	+ 0.79	MSFT
A	+ 0.74	F

High negative correlations

MRK	- 0.57	CRM
CRM	- 0.39	MSFT
XOM	- 0.36	CRM
CRM	- 0.36	META
CRM	- 0.27	A
JPM	- 0.24	CRM

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	1.32	0.47	0.17	(2.50)	0.74	(1.62)	3.62	(1.93)	10.48
MSFT	0.73	0.44	0.32	(10.77)	0.00	(0.93)	2.32	(0.94)	8.85
UBER	1.50	0.10	0.01	0.39	1.39	(1.86)	4.11	(2.02)	10.87
F	1.27	0.26	(0.01)	(1.01)	1.43	(1.34)	2.63	(2.33)	7.46
T	0.97	0.04	(0.10)	0.41	1.16	(1.06)	2.35	(2.23)	5.71
A	1.49	0.24	(0.01)	(1.48)	1.80	(1.56)	2.82	(2.89)	14.01
CRM	1.13	(0.26)	(0.13)	0.01	1.54	(1.06)	2.13	(2.57)	8.50
JPM	0.87	0.17	0.16	0.41	0.47	(1.01)	2.25	(1.31)	6.03
MRK	1.37	0.15	(0.09)	(0.09)	1.97	(1.30)	2.90	(3.31)	10.58
XOM	1.09	0.02	(0.09)	0.32	1.37	(1.06)	2.18	(2.58)	6.28

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First Trust Correlations

Moving together with First Etf

Moving against First Etf

Related Correlations Analysis

Correlation Matchups

First Trust Competition Risk-Adjusted Indicators

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