First Trust Correlations
| MDIV Etf | USD 15.27 0.07 0.46% |
The correlation of First Trust is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. 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 Multi Asset moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Multi Asset. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. First |
The ability to find closely correlated positions to First Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Trust when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Trust - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Trust Multi Asset to buy it.
Moving together with First Etf
| + | 0.91 | NTSX | WisdomTree 9060 US | PairCorr | ||
| + | 0.93 | CVY | Invesco Zacks Multi-Asset | PairCorr | ||
| + | 0.9 | HIPS | GraniteShares HIPS | PairCorr | ||
| + | 0.95 | ALTY | Global X Alternative | PairCorr | ||
| + | 0.86 | UPRO | ProShares UltraPro SP500 | Sell-off Trend | PairCorr | |
| + | 0.66 | QTJA | Innovator ETFs Trust | PairCorr | ||
| + | 0.81 | QTOC | Innovator ETFs Trust | PairCorr | ||
| + | 0.87 | XTOC | Innovator ETFs Trust | PairCorr | ||
| + | 0.89 | QTAP | Innovator Growth-100 | PairCorr | ||
| + | 0.9 | TSJA | Innovator Triple Stacker | PairCorr | ||
| + | 0.91 | XTJA | Innovator ETFs Trust | PairCorr | ||
| + | 0.91 | DSJA | Innovator Double Stacker | PairCorr | ||
| + | 0.93 | XDJA | Innovator ETFs Trust | PairCorr | ||
| + | 0.94 | XTAP | Innovator US Equity | PairCorr | ||
| + | 0.7 | T | ATT Inc | Buyout Trend | PairCorr | |
| + | 0.88 | GE | General Electric | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.94 | AXP | American Express | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.97 | BAC | Bank Of America | Aggressive Push | PairCorr |
Related Correlations Analysis
NTSX | MCD | IBM | CAT | PG | CVX | ||
NTSX | 0.83 | 0.83 | 0.22 | 0.53 | -0.26 | NTSX | |
MCD | 0.83 | 0.81 | 0.1 | 0.8 | -0.28 | MCD | |
IBM | 0.83 | 0.81 | -0.21 | 0.56 | -0.63 | IBM | |
CAT | 0.22 | 0.1 | -0.21 | -0.11 | 0.84 | CAT | |
PG | 0.53 | 0.8 | 0.56 | -0.11 | -0.33 | PG | |
CVX | -0.26 | -0.28 | -0.63 | 0.84 | -0.33 | CVX | |
NTSX | MCD | IBM | CAT | PG | CVX |
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | High negative correlations |
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 | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| NTSX | 0.71 | 0.02 | 0.02 | 0.02 | 0.94 | 0.0226 | (0.70) | 1.42 | (1.70) | 3.47 | |
| MCD | 0.76 | 0.04 | 0.03 | 0.05 | 1.09 | 0.0382 | (0.73) | 1.71 | (1.89) | 3.35 | |
| IBM | 0.73 | 0.15 | 0.16 | 0.24 | 0.75 | 0.14 | (0.78) | 1.56 | (1.40) | 5.74 | |
| CAT | 1.24 | (0.16) | 0.00 | (0.12) | 0.00 | (0.09) | 0.00 | 2.41 | (2.36) | 9.06 | |
| PG | 0.74 | (0.07) | 0.00 | (0.24) | 0.00 | (0.07) | 0.00 | 1.22 | (1.48) | 4.34 | |
| CVX | 1.05 | (0.19) | 0.00 | (0.27) | 0.00 | (0.13) | 0.00 | 1.90 | (2.50) | 9.48 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in First Trust without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in First Trust Multi Asset?
The danger of trading First Trust Multi Asset is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of First Trust is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than First Trust. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile First Trust Multi-Asset is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether First Trust Multi-Asset is a strong investment it is important to analyze First Trust's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact First Trust's future performance. For an informed investment choice regarding First Etf, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in First Trust Multi Asset. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Complementary Tools for First Etf analysis
When running First Trust's price analysis, check to measure First Trust's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy First Trust is operating at the current time. Most of First Trust's value examination focuses on studying past and present price action to predict the probability of First Trust's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move First Trust's price. Additionally, you may evaluate how the addition of First Trust to your portfolios can decrease your overall portfolio volatility.
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The market value of First Trust Multi-Asset is measured differently than its book value, which is the value of First that is recorded on the company's balance sheet. Investors also form their own opinion of First Trust's value that differs from its market value or its book value, called intrinsic value, which is First Trust's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because First Trust's market value can be influenced by many factors that don't directly affect First Trust's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between First Trust's value and its price as these two are different measures arrived at by different means. Investors typically determine if First Trust is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, First Trust's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.