First Trust Correlations

FTXG Etf

USD 22.77 0.15 0.65%

The current 90-days correlation between First Trust Nasdaq and First Trust Consumer is -0.07 (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

Very weak diversification

The correlation between First Trust Nasdaq and DJI is 0.51 (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 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 interest.

Moving against First Etf

0.61	SOXX	iShares Semiconductor ETF	Pair Corr
0.61	WEBL	Direxion Daily Dow	Pair Corr
0.6	NLR	VanEck UraniumNuclear	Pair Corr
0.57	IXUS	iShares Core MSCI	Pair Corr
0.57	XYLG	Global X SP	Pair Corr
0.57	RAA	SMI 3Fourteen REAL	Pair Corr
0.56	ITDD	iShares Trust	Pair Corr
0.56	PAWZ	ProShares Pet Care Low Volatility	Pair Corr
0.56	DFAX	Dimensional World	Pair Corr
0.55	FEUZ	First Trust Eurozone	Pair Corr
0.53	NBCE	Neuberger Berman ETF	Pair Corr
0.53	DISV	Dimensional ETF Trust Low Volatility	Pair Corr
0.5	DIAL	Columbia Diversified	Pair Corr
0.47	SUSB	iShares ESG 1	Pair Corr
0.47	INKM	SPDR SSgA Income	Pair Corr
0.46	IBLC	iShares Blockchain and	Pair Corr
0.32	PMBS	PIMCO Mortgage Backed	Pair Corr
0.66	IDVZ	Opal International	Pair Corr
0.63	NOCT	Innovator Growth 100	Pair Corr
0.6	EGGY	Tidal Trust III	Pair Corr
0.59	VGT	Vanguard Information	Pair Corr
0.58	SUPP	TCW Transform Supply	Pair Corr
0.57	VXUS	Vanguard Total Inter	Pair Corr
0.57	TECL	Direxion Daily Technology	Pair Corr
0.57	EMC	Global X Funds	Pair Corr
0.57	QLC	FlexShares Quality Large	Pair Corr

Related Correlations Analysis

	FXG	FSTA	FTXG	IYK	KXI	PBJ	PSL	SZK	UGE
FXG		-0.03	0.55	0.05	-0.19	-0.13	-0.18	-0.39	0.19	FXG
FSTA	-0.03		0.35	0.82	0.9	0.61	0.76	-0.57	0.91	FSTA
FTXG	0.55	0.35		0.42	0.2	-0.06	-0.1	-0.29	0.63	FTXG
IYK	0.05	0.82	0.42		0.83	0.35	0.45	-0.43	0.82	IYK
KXI	-0.19	0.9	0.2	0.83		0.42	0.65	-0.6	0.82	KXI
PBJ	-0.13	0.61	-0.06	0.35	0.42		0.73	-0.12	0.31	PBJ
PSL	-0.18	0.76	-0.1	0.45	0.65	0.73		-0.27	0.52	PSL
SZK	-0.39	-0.57	-0.29	-0.43	-0.6	-0.12	-0.27		-0.64	SZK
UGE	0.19	0.91	0.63	0.82	0.82	0.31	0.52	-0.64		UGE
	FXG	FSTA	FTXG	IYK	KXI	PBJ	PSL	SZK	UGE

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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

UGE	+ 0.91	FSTA
KXI	+ 0.9	FSTA
KXI	+ 0.83	IYK
IYK	+ 0.82	FSTA
UGE	+ 0.82	IYK
UGE	+ 0.82	KXI

High negative correlations

UGE	- 0.64	SZK
SZK	- 0.6	KXI
SZK	- 0.57	FSTA
SZK	- 0.43	IYK
SZK	- 0.39	FXG
SZK	- 0.29	FTXG

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
FXG	0.62	0.05	(0.26)	(0.08)	0.72	(0.73)	1.44	(1.32)	3.70
FSTA	0.56	(0.10)	(0.29)	0.00	0.69	(0.57)	1.16	(1.19)	3.34
FTXG	0.69	(0.12)	0.00	(0.04)	0.00	0.00	1.81	(1.22)	3.82
IYK	0.56	(0.10)	0.00	(0.05)	0.00	0.00	0.92	(1.07)	3.92
KXI	0.53	(0.07)	(0.29)	0.01	0.65	(0.53)	0.85	(1.08)	3.47
PBJ	0.66	(0.01)	(0.15)	0.19	0.60	(0.78)	1.33	(1.06)	4.07
PSL	0.62	(0.10)	(0.22)	0.04	0.73	(0.62)	1.72	(1.10)	3.65
SZK	1.13	(0.13)	0.00	(0.10)	0.00	0.00	2.27	(2.26)	6.33
UGE	1.11	(0.20)	0.00	(0.03)	0.00	0.00	2.23	(2.18)	7.10

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