First Trust Correlations

UCON Etf

USD 24.81 0.01 0.04%

The current 90-days correlation between First Trust TCW and First Trust TCW is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust TCW moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Weak diversification

The correlation between First Trust TCW and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust TCW and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in First Trust TCW. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with First Etf

0.79	AMAX	Starboard Investment	Pair Corr
0.97	OBND	SSGA Active Trust	Pair Corr
0.83	VPC	Virtus Private Credit	Pair Corr
0.85	SSFI	Strategy Shares	Pair Corr
0.74	GLDB	Strategy Shares Gold Low Volatility	Pair Corr
0.83	HYIN	WisdomTree Alternative	Pair Corr
0.88	PMBS	PIMCO Mortgage Backed	Pair Corr
0.88	SIXD	AIM ETF Products	Pair Corr
0.86	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.89	CEFD	ETRACS Monthly Pay	Pair Corr
0.91	EUSB	iShares Trust	Pair Corr
0.75	PFUT	Putnam Sustainable Future	Pair Corr
0.96	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.97	SPIB	SPDR Barclays Interm	Pair Corr
0.92	HIDE	Alpha Architect High	Pair Corr
0.85	BUFD	FT Cboe Vest	Pair Corr
0.79	VBF	Invesco Van Kampen	Pair Corr
0.82	QTOC	Innovator ETFs Trust	Pair Corr
0.85	CGGO	Capital Group Global	Pair Corr
0.84	NFLX	Netflix	Pair Corr

Moving against First Etf

0.8	VXX	iPath Series B Potential Growth	Pair Corr
0.79	VIXY	ProShares VIX Short Sell-off Trend	Pair Corr
0.63	YCL	ProShares Ultra Yen	Pair Corr

Related Correlations Analysis

	FIXD	LMBS	FTSM	FTSL	HYLS
FIXD		0.92	0.78	0.66	0.76	FIXD
LMBS	0.92		0.94	0.86	0.9	LMBS
FTSM	0.78	0.94		0.96	0.96	FTSM
FTSL	0.66	0.86	0.96		0.97	FTSL
HYLS	0.76	0.9	0.96	0.97		HYLS
	FIXD	LMBS	FTSM	FTSL	HYLS

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FIXD	0.27	(0.01)	(0.44)	0.11	0.31	(0.28)	0.49	(0.62)	1.31
LMBS	0.12	0.01	(0.99)	0.40	0.00	(0.13)	0.23	(0.23)	0.60
FTSM	0.03	0.01	(4.43)	5.63	0.00	(0.04)	0.07	(0.03)	0.17
FTSL	0.07	0.04	(1.51)	(6.53)	0.00	(0.09)	0.27	(0.07)	0.51
HYLS	0.21	0.02	(0.50)	0.30	0.00	(0.25)	0.59	(0.44)	1.25

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