First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange Traded
ILDR Etf  USD 30.50  0.17  0.56%   
The current 90-days correlation between First Trust Exchange and First Trust Expanded is 0.92 (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

Poor diversification

The correlation between First Trust Exchange Traded and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange Traded and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with First Etf
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Exchange Traded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Etf

  0.98VUG Vanguard Growth IndexPairCorr
  0.99IWF iShares Russell 1000PairCorr
  0.99IVW iShares SP 500PairCorr
  0.99SPYG SPDR Portfolio SPPairCorr
  0.99IUSG iShares Core SPPairCorr
  0.99VONG Vanguard Russell 1000PairCorr
  0.99MGK Vanguard Mega CapPairCorr
  0.99VRGWX Vanguard Russell 1000PairCorr
  0.99QQQM Invesco NASDAQ 100PairCorr
  0.99IWY iShares Russell TopPairCorr
  0.72PMBS PIMCO Mortgage BackedPairCorr
  0.98SIXD AIM ETF ProductsPairCorr
  0.83PFFL ETRACS 2xMonthly PayPairCorr
  0.8GRW TCW Compounders ETFPairCorr
  0.92BA Boeing Earnings Call This WeekPairCorr
  0.97BAC Bank of America Aggressive PushPairCorr
  0.98MSFT Microsoft Earnings Call This WeekPairCorr
  0.86PFE Pfizer IncPairCorr
  0.93IBM International BusinessPairCorr
  0.97CSCO Cisco SystemsPairCorr
  0.85CVX Chevron Corp Earnings Call Next WeekPairCorr
  0.97JPM JPMorgan ChasePairCorr
  0.77INTC IntelPairCorr
  0.9AA Alcoa CorpPairCorr
  0.93AXP American ExpressPairCorr

Moving against First Etf

  0.97VIXY ProShares VIX ShortPairCorr
  0.96VXX iPath Series BPairCorr
  0.78YCL ProShares Ultra YenPairCorr
  0.75MCD McDonaldsPairCorr
  0.5PG Procter Gamble Earnings Call This WeekPairCorr
  0.32VZ Verizon Communications Aggressive PushPairCorr

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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