First Trust Correlations

Etfs . USA . 
Etf . First Trust Utilities
FXU Etf  USD 43.56  0.19  0.44%   
The current 90-days correlation between First Trust Utilities and First Trust Consumer is 0.62 (i.e., Poor 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 weak diversification

The correlation between First Trust Utilities and DJI is 0.58 (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 Utilities and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Utilities. 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

  0.97XLU Utilities Select Sector Aggressive PushPairCorr
  0.97VPU Vanguard Utilities IndexPairCorr
  0.78AMPS BlackrockPairCorr
  0.97FUTY Fidelity MSCI UtilitiesPairCorr
  0.98IDU iShares Utilities ETFPairCorr
  0.81JXI iShares Global UtilitiesPairCorr
  0.96PUI Invesco DWA UtilitiesPairCorr
  0.89UTES Virtus Reaves UtilitiesPairCorr
  0.84SIXD AIM ETF ProductsPairCorr
  0.72PFFL ETRACS 2xMonthly PayPairCorr
  0.81CEFD ETRACS Monthly PayPairCorr
  0.78NFLX NetflixPairCorr
  0.87PFUT Putnam Sustainable FuturePairCorr
  0.78KWEB KraneShares CSI China Aggressive PushPairCorr
  0.84VWO Vanguard FTSE EmergingPairCorr
  0.82SAUG First Trust ExchangePairCorr
  0.86SPY SPDR SP 500PairCorr
  0.82DCPE DoubleLine Shiller CAPEPairCorr
  0.68VABS Virtus Newfleet ABSMBSPairCorr
  0.86SUPP TCW Transform SupplyPairCorr
  0.86BUFD FT Cboe VestPairCorr
  0.79MYMF SPDR SSGA My2026PairCorr
  0.82KGRN KraneShares MSCI ChinaPairCorr
  0.7VBF Invesco Van KampenPairCorr
  0.8CPSD Calamos ETF TrustPairCorr
  0.85VYMI Vanguard InternationalPairCorr
  0.83EFAA Invesco Actively ManagedPairCorr
  0.68SPIB SPDR Barclays IntermPairCorr
  0.73IBIB iShares TrustPairCorr
  0.86QTOC Innovator ETFs TrustPairCorr
  0.82VFVA Vanguard Value FactorPairCorr

Moving against First Etf

  0.87VXX iPath Series BPairCorr
  0.86VIXY ProShares VIX ShortPairCorr
  0.65YCL ProShares Ultra YenPairCorr

Related Correlations Analysis

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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   
FXD
+ 0.99
FXR
FXO
+ 0.97
FXR
FXO
+ 0.97
FXD
FXN
+ 0.83
FXR
FXN
+ 0.83
FXD
FXO
+ 0.82
FXN
  
High negative correlations   
FXO
- 0.4
FXG
FXD
- 0.4
FXG
FXR
- 0.37
FXG
FXN
- 0.28
FXG

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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