First Trust Correlations

Etfs . USA . 
Etf . First Trust Small
FYC Etf  USD 81.19  0.21  0.26%   
The current 90-days correlation between First Trust Small and Vanguard Small Cap Growth 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.

First Trust Correlation With Market

Very poor diversification

The correlation between First Trust Small 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 Small 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 Small. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with First Etf

  0.99VBK Vanguard Small CapPairCorr
  1.0IWO iShares Russell 2000PairCorr
  0.98IJT iShares SP SmallPairCorr
  0.98SLYG SPDR SP 600PairCorr
  0.92PBW Invesco WilderHill CleanPairCorr
  0.97JKK iShares MorningstarPairCorr
  1.0VTWG Vanguard Russell 2000PairCorr
  1.0VRTGX Vanguard Russell 2000PairCorr
  0.98VIOG Vanguard SP SmallPairCorr
  0.99ISCG iShares MorningstarPairCorr
  0.67PMBS PIMCO Mortgage BackedPairCorr
  0.98SIXD AIM ETF ProductsPairCorr
  0.82PFFL ETRACS 2xMonthly PayPairCorr
  0.94EFG iShares MSCI EAFEPairCorr
  0.98JHDV John Hancock ExchangePairCorr
  0.9ESGS Columbia SustainablePairCorr
  0.96GPRF Goldman Sachs AccessPairCorr
  0.97EMM Global X FundsPairCorr
  0.91HDV iShares Core HighPairCorr
  0.79XLE Energy Select SectorPairCorr
  0.77KWEB KraneShares CSI ChinaPairCorr
  0.95XV Simplify Exchange TradedPairCorr
  0.96KEMQ KraneShares EmergingPairCorr
  0.94WCMI First Trust ExchangePairCorr
  0.99DARP Tidal Trust IIPairCorr
  0.78DFCF Dimensional ETF TrustPairCorr
  0.94GEMD Goldman Sachs ETFPairCorr
  0.93ERTH Invesco MSCI SustainablePairCorr

Moving against First Etf

  0.98VXX iPath Series BPairCorr
  0.98VIXY ProShares VIX ShortPairCorr
  0.75YCL ProShares Ultra YenPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VBK  0.80  0.06  0.10  0.25  0.62 
(0.94)
 2.03 
(1.29)
 6.72 
IWO  0.91  0.03  0.09  0.23  0.73 
(1.02)
 2.35 
(1.47)
 6.58 
IJT  0.82 (0.02) 0.03  0.19  0.79 
(0.88)
 1.76 
(1.65)
 5.86 
SLYG  0.82 (0.01) 0.03  0.19  0.75 
(0.90)
 1.89 
(1.56)
 5.79 
PBW  1.81  0.85  0.35 (24.20) 1.31 
(2.28)
 4.06 
(2.33)
 9.98 
JKK  0.85  0.35  0.11 (1.80) 0.55 
(0.93)
 2.20 
(1.22)
 6.35 
VTWG  0.93  0.03  0.09  0.22  0.76 
(1.00)
 2.38 
(1.39)
 6.79 
VRTGX  0.92  0.03  0.10  0.23  0.71 
(1.06)
 2.41 
(1.52)
 6.46 
VIOG  0.83  0.00  0.03  0.20  0.76 
(0.95)
 2.09 
(1.51)
 5.25 
ISCG  0.82  0.04  0.08  0.23  0.58 
(0.87)
 2.16 
(1.22)
 6.36 

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