First Trust Correlations

Etfs . USA . 
Etf . First Trust Expanded
XPND Etf  USD 36.81  0.37  1.02%   
The current 90-days correlation between First Trust Expanded and First Trust Exchange Traded is 0.87 (i.e., Very poor 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 weak diversification

The correlation between First Trust Expanded and DJI is 0.49 (i.e., Very weak 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.
  
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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 producer price index.

Moving together with First Etf

  0.97VGT Vanguard InformationPairCorr
  0.96XLK Technology Select SectorPairCorr
  0.96IYW iShares Technology ETFPairCorr
  0.93SMH VanEck Semiconductor ETFPairCorr
  0.92SOXX iShares Semiconductor ETFPairCorr
  0.71CIBR First Trust NASDAQPairCorr
  0.97FTEC Fidelity MSCI InformationPairCorr
  0.77IGV iShares Expanded TechPairCorr
  0.89FDN First Trust DowPairCorr
  0.98IGM iShares Expanded TechPairCorr
  0.84USD ProShares Ultra SemiPairCorr
  0.95FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.83DFEN Direxion Daily AerospacePairCorr
  0.93URNM Sprott Uranium MinersPairCorr
  0.9JPM JPMorgan ChasePairCorr
  0.62HPQ HP IncPairCorr
  0.73AXP American Express Sell-off TrendPairCorr
  0.64DD Dupont De NemoursPairCorr
  0.83BAC Bank of AmericaPairCorr
  0.68JNJ Johnson JohnsonPairCorr
  0.81INTC IntelPairCorr
  0.68HD Home DepotPairCorr
  0.9GE GE AerospacePairCorr

Moving against First Etf

  0.59MLPR ETRACS Quarterly PayPairCorr
  0.84KO Coca ColaPairCorr
  0.61BA BoeingPairCorr

Related Correlations Analysis


Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

YSEP
+ 0.99
YJUN
YSEP
+ 0.98
YDEC
YDEC
+ 0.97
YJUN
YSEP
+ 0.81
ILDR
YDEC
+ 0.79
ILDR
YJUN
+ 0.76
ILDR
  

High negative correlations

MDEV
- 0.16
ILDR

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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