First Trust Correlations

FSIG Etf

USD 19.06 0.04 0.21%

The current 90-days correlation between First Trust Exchange and Vanguard Short Term Bond is -0.05 (i.e., Good 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

Modest diversification

The correlation between First Trust Exchange Traded and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange Traded 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 Exchange Traded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with First Etf

0.89	BSV	Vanguard Short Term	Pair Corr
0.99	IGSB	iShares 1 5	Pair Corr
0.97	SPSB	SPDR Barclays Short	Pair Corr
0.94	ISTB	iShares Core 1	Pair Corr
0.98	SLQD	iShares 0 5	Pair Corr
0.92	GVI	iShares Intermediate	Pair Corr
0.98	LDUR	PIMCO Enhanced Low	Pair Corr
0.96	SUSB	iShares ESG 1	Pair Corr
0.75	BTCL	T Rex 2X Low Volatility	Pair Corr
0.74	BITU	ProShares Trust	Pair Corr
0.76	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.74	BITX	Volatility Shares Trust Low Volatility	Pair Corr
0.67	MSTY	YieldMax MSTR Option	Pair Corr
0.92	DFEN	Direxion Daily Aerospace	Pair Corr
0.83	EUSB	iShares Trust	Pair Corr
0.95	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.65	KGRN	KraneShares MSCI China	Pair Corr
0.89	BUFD	FT Cboe Vest	Pair Corr
0.76	AA	Alcoa Corp	Pair Corr
0.81	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.83	DIS	Walt Disney	Pair Corr
0.83	CVX	Chevron Corp	Pair Corr
0.87	IBM	International Business Earnings Call Today	Pair Corr
0.85	GE	GE Aerospace	Pair Corr
0.88	BAC	Bank of America Aggressive Push	Pair Corr
0.73	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.89	MSFT	Microsoft Earnings Call This Week	Pair Corr

Moving against First Etf

0.79	WTID	UBS ETRACS	Pair Corr
0.54	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.39	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	BSV	IGSB	SPSB	ISTB	SLQD	GVI	LDUR	SUSB
BSV		0.91	0.94	0.98	0.9	0.94	0.9	0.94	BSV
IGSB	0.91		0.98	0.96	1.0	0.94	0.98	0.97	IGSB
SPSB	0.94	0.98		0.98	0.98	0.91	0.96	0.99	SPSB
ISTB	0.98	0.96	0.98		0.96	0.94	0.94	0.98	ISTB
SLQD	0.9	1.0	0.98	0.96		0.93	0.98	0.98	SLQD
GVI	0.94	0.94	0.91	0.94	0.93		0.95	0.91	GVI
LDUR	0.9	0.98	0.96	0.94	0.98	0.95		0.95	LDUR
SUSB	0.94	0.97	0.99	0.98	0.98	0.91	0.95		SUSB
	BSV	IGSB	SPSB	ISTB	SLQD	GVI	LDUR	SUSB

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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
BSV	0.11	0.00	(1.12)	0.00	0.00	(0.12)	0.21	(0.24)	0.58
IGSB	0.11	0.02	(1.04)	0.68	0.00	(0.13)	0.21	(0.21)	0.70
SPSB	0.07	0.02	(1.49)	(3.39)	0.00	(0.10)	0.17	(0.13)	0.44
ISTB	0.10	0.02	(1.09)	(4.73)	0.00	(0.11)	0.23	(0.19)	0.61
SLQD	0.09	0.02	(1.40)	0.82	0.00	(0.10)	0.18	(0.14)	0.60
GVI	0.15	0.01	(0.81)	0.60	0.06	(0.15)	0.28	(0.30)	0.79
LDUR	0.10	0.00	(1.27)	0.00	0.00	(0.11)	0.19	(0.19)	0.57
SUSB	0.11	0.03	(0.86)	(1.93)	0.00	(0.14)	0.24	(0.20)	0.73

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