First Trust Correlations

Etfs . USA . 
Etf . First Trust Expanded
XPND Etf  USD 33.69  0.11  0.33%   
The current 90-days correlation between First Trust Expanded and First Trust Exchange Traded 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.

First Trust Correlation With Market

Significant diversification

The correlation between First Trust Expanded and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Expanded and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with First Etf
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in First Trust Expanded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with First Etf

  0.79VGT Vanguard InformationPairCorr
  0.79XLK Technology Select Sector Sell-off TrendPairCorr
  0.79IYW iShares Technology ETFPairCorr
  0.8SMH VanEck Semiconductor ETFPairCorr
  0.79SOXX iShares Semiconductor ETFPairCorr
  0.74CIBR First Trust NASDAQPairCorr
  0.79FTEC Fidelity MSCI InformationPairCorr
  0.72IGV iShares Expanded Tech Low VolatilityPairCorr
  0.74FDN First Trust DowPairCorr
  0.78IGM iShares Expanded TechPairCorr
  0.81USD ProShares Ultra SemiPairCorr
  0.61GBTC Grayscale Bitcoin TrustPairCorr
  0.77FNGO MicroSectors FANG IndexPairCorr
  0.73CRPT First Trust SkyBridgePairCorr
  0.63NRGU Bank of MontrealPairCorr
  0.78BULZ MicroSectors SolactivePairCorr
  0.7BITS Global X BlockchainPairCorr
  0.77FNGG Direxion Daily SelectPairCorr
  0.78DFEN Direxion Daily AerospacePairCorr
  0.62DD Dupont De NemoursPairCorr
  0.75AA Alcoa CorpPairCorr
  0.78MSFT MicrosoftPairCorr
  0.74DIS Walt DisneyPairCorr
  0.75JPM JPMorgan ChasePairCorr
  0.65BA BoeingPairCorr
  0.7MMM 3M CompanyPairCorr
  0.66CVX Chevron CorpPairCorr
  0.81CSCO Cisco SystemsPairCorr

Moving against First Etf

  0.64MCD McDonaldsPairCorr
  0.52KO Coca Cola Earnings Call TomorrowPairCorr
  0.35PG Procter GamblePairCorr

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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