First Trust Correlations

FTC Etf

USD 120.06 0.13 0.11%

The current 90-days correlation between First Trust Large and Sterling Capital Focus is 0.7 (i.e., 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

Poor diversification

The correlation between First Trust Large and NYA is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Large and NYA in the same portfolio, assuming nothing else is changed.

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

Moving together with First Etf

0.66	VUG	Vanguard Growth Index	Pair Corr
0.69	IWF	iShares Russell 1000 Sell-off Trend	Pair Corr
0.62	IVW	iShares SP 500 Sell-off Trend	Pair Corr
0.62	SPYG	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.64	IUSG	iShares Core SP	Pair Corr
0.68	VONG	Vanguard Russell 1000	Pair Corr
0.66	MGK	Vanguard Mega Cap	Pair Corr
0.68	VRGWX	Vanguard Russell 1000	Pair Corr
0.89	MTUM	iShares MSCI USA Low Volatility	Pair Corr
0.71	QQQM	Invesco NASDAQ 100 Sell-off Trend	Pair Corr
0.84	UPRO	ProShares UltraPro SP500	Pair Corr
0.65	QTAP	Innovator Growth 100 Low Volatility	Pair Corr
0.72	XTAP	Innovator Equity Acc	Pair Corr
0.63	HCA	HCA Holdings	Pair Corr
0.72	MSFT	Microsoft Sell-off Trend	Pair Corr
0.61	JNJ	Johnson Johnson Financial Report 18th of July 2024	Pair Corr

Moving against First Etf

0.43	DSJA	DSJA	Pair Corr
0.31	GE	GE Aerospace Financial Report 23rd of July 2024	Pair Corr

Related Correlations Analysis

	LCG	KNGS	MPRO	MMLG	MAMB
LCG		0.49	0.09	0.58	0.31	LCG
KNGS	0.49		0.47	0.33	0.37	KNGS
MPRO	0.09	0.47		0.69	0.89	MPRO
MMLG	0.58	0.33	0.69		0.72	MMLG
MAMB	0.31	0.37	0.89	0.72		MAMB
	LCG	KNGS	MPRO	MMLG	MAMB

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LCG	0.81	(0.18)	(0.16)	0.00	0.00	1.58	(2.03)	5.16
KNGS	0.53	(0.03)	(0.02)	0.00	0.00	0.97	(1.16)	3.50
MPRO	0.33	0.00	0.01	0.45	(0.33)	0.63	(0.70)	2.22
MMLG	0.79	0.00	0.01	0.93	(0.95)	1.78	(1.88)	4.45
MAMB	0.30	(0.02)	(0.05)	0.00	0.00	0.51	(0.63)	1.81

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC