First Trust Correlations

Etfs . USA . 
Etf . First Trust Small
FYT Etf  USD 53.35  0.03  0.06%   
The current 90-days correlation between First Trust Small and First Trust Mid is -0.16 (i.e., Good 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 Small and DJI is 0.81 (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

  0.61VBR Vanguard Small CapPairCorr
  0.64IJJ iShares SP MidPairCorr
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  0.63IJS iShares SP SmallPairCorr
  0.99SLYV SPDR SP 600PairCorr
  0.64AVUV Avantis Small CapPairCorr
  0.64MDYV SPDR SP 400PairCorr
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  0.89FNGO MicroSectors FANG IndexPairCorr
  0.94DUSL Direxion Daily IndusPairCorr
  0.94TECL Direxion Daily TechnologyPairCorr
  0.73DIG ProShares Ultra OilPairCorr
  0.8IBM International BusinessPairCorr
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  0.61HD Home DepotPairCorr
  0.91BA Boeing Earnings Call This WeekPairCorr
  0.93JPM JPMorgan Chase Sell-off TrendPairCorr
  0.83PFE Pfizer Inc Sell-off TrendPairCorr
  0.95AA Alcoa CorpPairCorr
  0.83GE GE AerospacePairCorr
  0.94DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.87DIS Walt DisneyPairCorr
  0.86CVX Chevron Corp Earnings Call This WeekPairCorr
  0.93BAC Bank of America Aggressive PushPairCorr
  0.85INTC IntelPairCorr

Moving against First Etf

  0.5FNGU MicroSectors FANG Index Symbol ChangePairCorr

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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