First Trust Correlations

FTXR Etf

USD 32.99 0.00 0.00%

The current 90-days correlation between First Trust Nasdaq and First Trust Nasdaq is 0.53 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Nasdaq and DJI is 0.76 (i.e., Poor 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 together with First Etf

0.98	XLI	Industrial Select Sector	Pair Corr
0.69	DRVN	Driven Brands Holdings	Pair Corr
0.92	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.98	VIS	Vanguard Industrials	Pair Corr
0.97	JETS	US Global Jets	Pair Corr
0.98	FXR	First Trust Industri	Pair Corr
0.94	PPA	Invesco Aerospace Defense	Pair Corr
0.82	EGLE	Global X Funds	Pair Corr
0.98	IYJ	iShares Industrials ETF	Pair Corr
0.98	IYT	iShares Transportation Potential Growth	Pair Corr
0.91	BTCL	T Rex 2X	Pair Corr
0.91	BITU	ProShares Trust	Pair Corr
0.91	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.91	BITX	Volatility Shares Trust	Pair Corr
0.81	MSTY	YieldMax MSTR Option Downward Rally	Pair Corr
0.91	DFEN	Direxion Daily Aerospace	Pair Corr
0.95	CAT	Caterpillar	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.96	MMM	3M Company	Pair Corr
0.96	AXP	American Express	Pair Corr
0.78	PFE	Pfizer Inc	Pair Corr
0.94	BAC	Bank of America	Pair Corr
0.94	MSFT	Microsoft	Pair Corr
0.94	AA	Alcoa Corp	Pair Corr
0.77	CVX	Chevron Corp	Pair Corr
0.94	DIS	Walt Disney	Pair Corr
0.92	DD	Dupont De Nemours	Pair Corr
0.77	INTC	Intel Earnings Call This Week	Pair Corr
0.95	BA	Boeing	Pair Corr

Moving against First Etf

0.87	WTID	UBS ETRACS	Pair Corr
0.43	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FTXG	FTXH	FTXO	FTXN	FTAG
FTXG		-0.46	-0.6	-0.59	-0.69	FTXG
FTXH	-0.46		0.78	0.71	0.8	FTXH
FTXO	-0.6	0.78		0.78	0.94	FTXO
FTXN	-0.59	0.71	0.78		0.84	FTXN
FTAG	-0.69	0.8	0.94	0.84		FTAG
	FTXG	FTXH	FTXO	FTXN	FTAG

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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

FTAG	+ 0.94	FTXO
FTAG	+ 0.84	FTXN
FTAG	+ 0.8	FTXH
FTXO	+ 0.78	FTXH
FTXN	+ 0.78	FTXO
FTXN	+ 0.71	FTXH

High negative correlations

FTAG	- 0.69	FTXG
FTXO	- 0.6	FTXG
FTXN	- 0.59	FTXG
FTXH	- 0.46	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
FTXG	0.72	(0.13)	0.00	(0.15)	0.00	0.00	1.81	(1.52)	3.82
FTXH	1.05	(0.04)	(0.02)	0.09	1.38	(0.99)	1.95	(2.30)	5.85
FTXO	1.06	0.23	0.21	0.33	0.81	(1.31)	2.60	(1.43)	7.66
FTXN	1.23	0.10	0.02	0.37	1.30	(1.39)	2.52	(2.60)	6.21
FTAG	0.69	0.10	0.05	0.34	0.47	(0.83)	1.55	(0.90)	3.65

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