First Trust Correlations

FTXG Etf

USD 21.85 0.01 0.05%

The current 90-days correlation between First Trust Nasdaq and First Trust Nasdaq is 0.56 (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

Modest diversification

The correlation between First Trust Nasdaq and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Nasdaq 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 Nasdaq. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

Moving together with First Etf

0.92	XLP	Consumer Staples Select Sell-off Trend	Pair Corr
0.86	VDC	Vanguard Consumer Staples	Pair Corr
0.87	IYK	iShares Consumer Staples	Pair Corr
0.72	KXI	iShares Global Consumer	Pair Corr
0.86	FSTA	Fidelity MSCI Consumer	Pair Corr
0.97	RHS	Invesco SP 500	Pair Corr
0.84	FXG	First Trust Consumer	Pair Corr
0.94	PBJ	Invesco Dynamic Food	Pair Corr
0.86	KO	Coca Cola Earnings Call Tomorrow	Pair Corr

Moving against First Etf

0.84	TECL	Direxion Daily Technology	Pair Corr
0.84	ROM	ProShares Ultra Tech	Pair Corr
0.83	QLD	ProShares Ultra QQQ	Pair Corr
0.83	ARKW	ARK Next Generation	Pair Corr
0.81	SMH	VanEck Semiconductor ETF	Pair Corr
0.8	UPRO	ProShares UltraPro SP500	Pair Corr
0.8	SPXL	Direxion Daily SP500	Pair Corr
0.79	SOXX	iShares Semiconductor ETF	Pair Corr
0.77	USD	ProShares Ultra Semi	Pair Corr
0.64	ANEW	ProShares MSCI Trans	Pair Corr
0.63	LITP	Sprott Lithium Miners	Pair Corr
0.9	GE	GE Aerospace Earnings Call Tomorrow	Pair Corr
0.82	AUGZ	TrueShares Structured	Pair Corr
0.81	GLD	SPDR Gold Shares Aggressive Push	Pair Corr
0.81	JPM	JPMorgan Chase	Pair Corr
0.79	PJUN	Innovator SP 500	Pair Corr
0.78	INTC	Intel Aggressive Push	Pair Corr
0.75	CAT	Caterpillar	Pair Corr
0.65	IBM	International Business Earnings Call This Week	Pair Corr
0.62	XOM	Exxon Mobil Corp	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr
0.57	TRV	The Travelers Companies	Pair Corr
0.47	DD	Dupont De Nemours	Pair Corr
0.34	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	FTXH	TOKE	MOTG	DIEM	SHRY	DFVE	LTL	TPLE	SNPG	STXI
FTXH		0.75	0.86	0.85	0.63	0.86	0.73	0.52	0.85	0.93	FTXH
TOKE	0.75		0.66	0.65	0.54	0.73	0.67	0.34	0.71	0.79	TOKE
MOTG	0.86	0.66		0.94	0.66	0.91	0.91	0.59	0.93	0.93	MOTG
DIEM	0.85	0.65	0.94		0.54	0.84	0.88	0.67	0.94	0.94	DIEM
SHRY	0.63	0.54	0.66	0.54		0.79	0.54	0.13	0.52	0.66	SHRY
DFVE	0.86	0.73	0.91	0.84	0.79		0.85	0.45	0.85	0.88	DFVE
LTL	0.73	0.67	0.91	0.88	0.54	0.85		0.59	0.93	0.83	LTL
TPLE	0.52	0.34	0.59	0.67	0.13	0.45	0.59		0.66	0.58	TPLE
SNPG	0.85	0.71	0.93	0.94	0.52	0.85	0.93	0.66		0.91	SNPG
STXI	0.93	0.79	0.93	0.94	0.66	0.88	0.83	0.58	0.91		STXI
	FTXH	TOKE	MOTG	DIEM	SHRY	DFVE	LTL	TPLE	SNPG	STXI

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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
FTXH	0.85	0.12	0.11	0.21	0.80	(1.01)	2.23	(1.73)	5.72
TOKE	2.14	0.40	0.16	0.56	2.09	(2.63)	4.50	(4.43)	19.61
MOTG	0.55	0.02	0.02	0.08	0.60	(0.59)	1.36	(1.09)	3.84
DIEM	0.59	0.07	0.07	0.13	0.70	(0.64)	1.21	(0.83)	5.18
SHRY	0.46	(0.05)	0.00	(0.02)	0.00	0.00	1.07	(0.90)	3.31
DFVE	0.57	(0.01)	(0.01)	0.04	0.65	(0.67)	1.40	(0.91)	4.64
LTL	1.24	0.14	0.11	0.14	1.37	(1.35)	2.93	(2.38)	7.69
TPLE	0.48	0.04	(0.02)	1.70	0.43	(0.61)	1.28	(0.81)	2.58
SNPG	0.55	0.05	0.06	0.11	0.57	(0.60)	1.36	(0.85)	4.06
STXI	0.55	0.05	0.06	0.11	0.62	(0.60)	1.11	(0.98)	4.64

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