First Trust Correlations

Etfs . USA . 
Etf . First Trust IndustrialsProducer
FXR Etf  USD 75.51  0.10  0.13%   
The current 90-days correlation between First Trust Industri and First Trust Consumer is 0.9 (i.e., Almost no 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

Very poor diversification

The correlation between First Trust IndustrialsProduce and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust IndustrialsProduce and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust IndustrialsProducer. 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

  0.96XLI Industrial Select SectorPairCorr
  0.79DRVN Driven Brands HoldingsPairCorr
  0.87ITA iShares Aerospace DefensePairCorr
  0.99VIS Vanguard IndustrialsPairCorr
  0.71JETS US Global JetsPairCorr
  0.9PPA Invesco Aerospace DefensePairCorr
  0.96IYJ iShares Industrials ETFPairCorr
  0.87IYT iShares TransportationPairCorr
  0.99FIDU Fidelity MSCI IndustrialsPairCorr
  0.82VTI Vanguard Total StockPairCorr
  0.91VBK Vanguard Small CapPairCorr
  0.7EEM iShares MSCI EmergingPairCorr
  0.73JPST JPMorgan Ultra ShortPairCorr
  0.62DUKH Ocean Park HighPairCorr
  0.72VZ Verizon Communications Fiscal Year End 28th of January 2025 PairCorr
  0.73TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.87GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.9CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.64MMM 3M Company Sell-off TrendPairCorr
  0.93HD Home DepotPairCorr
  0.77WMT WalmartPairCorr
  0.88DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.94AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Moving against First Etf

  0.65HUM Humana Inc Fiscal Year End 23rd of January 2025 PairCorr
  0.49FNGD MicroSectors FANG IndexPairCorr
  0.53BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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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.

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