First Trust Correlations

Etfs . USA . 
Etf . First Trust Technology
FXL Etf  USD 158.81  0.72  0.45%   
The current 90-days correlation between First Trust Technology and First Trust Financials is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Technology and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Technology 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 Technology. 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

  0.98VGT Vanguard InformationPairCorr
  0.98XLK Technology Select SectorPairCorr
  0.98IYW iShares Technology ETFPairCorr
  0.97SMH VanEck Semiconductor ETFPairCorr
  0.97SOXX iShares Semiconductor ETFPairCorr
  0.98CIBR First Trust NASDAQPairCorr
  0.98FTEC Fidelity MSCI InformationPairCorr
  0.99IGV iShares Expanded Tech Sell-off TrendPairCorr
  0.99FDN First Trust DowPairCorr
  0.99IGM iShares Expanded TechPairCorr
  0.92USD ProShares Ultra Semi Downward RallyPairCorr
  0.9GBTC Grayscale Bitcoin TrustPairCorr
  0.98FNGO MicroSectors FANG IndexPairCorr
  0.89BITO ProShares BitcoinPairCorr
  0.94CRPT First Trust SkyBridgePairCorr
  0.85NRGU Bank of MontrealPairCorr
  0.97BULZ MicroSectors SolactivePairCorr
  0.92BITS Global X BlockchainPairCorr
  0.98FNGG Direxion Daily SelectPairCorr
  0.93DFEN Direxion Daily AerospacePairCorr
  0.88DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.92AA Alcoa CorpPairCorr
  0.97MSFT MicrosoftPairCorr
  0.97DIS Walt DisneyPairCorr
  0.95JPM JPMorgan ChasePairCorr
  0.93BA Boeing Earnings Call This WeekPairCorr
  0.91MMM 3M CompanyPairCorr
  0.78CVX Chevron CorpPairCorr
  0.96CSCO Cisco Systems Sell-off TrendPairCorr

Moving against First Etf

  0.63MCD McDonaldsPairCorr
  0.59KO Coca Cola Earnings Call TodayPairCorr
  0.49PG Procter Gamble Earnings Call This WeekPairCorr
  0.37VZ Verizon Communications Aggressive PushPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY