First Trust Correlations

FTHI Etf

USD 22.76 0.09 0.39%

The current 90-days correlation between First Trust BuyWrite and Franklin Templeton ETF is -0.22 (i.e., Very 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

Poor diversification

The correlation between First Trust BuyWrite and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust BuyWrite and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust BuyWrite. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with First Etf

0.94	JEPI	JPMorgan Equity Premium	Pair Corr
0.92	XYLD	Global X SP	Pair Corr
0.9	DIVO	Amplify CWP Enhanced	Pair Corr
0.94	RYLD	Global X Russell	Pair Corr
0.87	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.92	KNG	FT Cboe Vest	Pair Corr
0.65	SIXH	ETC 6 Meridian	Pair Corr
0.89	BUYW	Main Buywrite ETF	Pair Corr
0.8	IDME	International Drawdown	Pair Corr
0.78	USD	ProShares Ultra Semi	Pair Corr
0.63	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.77	FNGO	MicroSectors FANG Index	Pair Corr
0.7	CRPT	First Trust SkyBridge	Pair Corr
0.63	BITO	ProShares Bitcoin	Pair Corr
0.77	FNGG	Direxion Daily Select	Pair Corr
0.82	BULZ	MicroSectors Solactive	Pair Corr
0.75	NRGU	Bank of Montreal	Pair Corr
0.71	BITS	Global X Blockchain	Pair Corr
0.73	SATO	Invesco Alerian Galaxy Low Volatility	Pair Corr
0.85	MMM	3M Company	Pair Corr
0.76	IBM	International Business	Pair Corr
0.72	MSFT	Microsoft Sell-off Trend	Pair Corr
0.85	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.82	JPM	JPMorgan Chase	Pair Corr
0.77	BA	Boeing Aggressive Push	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr
0.81	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	DIEM	DIVD	DIVG	DIVI	DIVL	DIVO	DIVP	MDPL	DURA
DIEM		0.97	0.85	0.96	0.9	0.92	0.77	0.72	0.67	DIEM
DIVD	0.97		0.92	0.95	0.91	0.89	0.82	0.82	0.79	DIVD
DIVG	0.85	0.92		0.8	0.86	0.79	0.87	0.95	0.94	DIVG
DIVI	0.96	0.95	0.8		0.87	0.89	0.71	0.67	0.6	DIVI
DIVL	0.9	0.91	0.86	0.87		0.97	0.93	0.72	0.73	DIVL
DIVO	0.92	0.89	0.79	0.89	0.97		0.85	0.62	0.61	DIVO
DIVP	0.77	0.82	0.87	0.71	0.93	0.85		0.78	0.82	DIVP
MDPL	0.72	0.82	0.95	0.67	0.72	0.62	0.78		0.95	MDPL
DURA	0.67	0.79	0.94	0.6	0.73	0.61	0.82	0.95		DURA
	DIEM	DIVD	DIVG	DIVI	DIVL	DIVO	DIVP	MDPL	DURA

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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
DIEM	0.88	0.15	0.02	(1.91)	1.30	(0.94)	2.34	(1.79)	8.25
DIVD	0.85	0.08	(0.02)	(0.69)	1.42	(0.84)	1.55	(2.18)	9.14
DIVG	0.97	0.04	(0.04)	(0.39)	1.64	(0.90)	1.57	(2.27)	9.33
DIVI	0.87	0.15	0.02	(1.78)	1.40	(0.86)	1.72	(1.38)	8.65
DIVL	0.92	(0.01)	(0.02)	0.09	1.45	(0.95)	1.68	(2.09)	8.38
DIVO	0.74	0.02	0.00	0.13	1.24	(0.78)	1.51	(1.69)	8.73
DIVP	0.84	(0.05)	(0.06)	0.03	1.41	(0.82)	1.39	(1.60)	8.14
MDPL	0.96	0.04	(0.06)	(0.09)	1.37	(0.95)	2.01	(2.25)	8.16
DURA	0.95	(0.01)	0.00	0.18	0.00	0.00	1.86	(2.27)	9.42

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First Trust Correlations

First Trust Correlation With Market

Poor diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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