First Trust Correlations

Etfs . USA . 
Etf . First Trust Eurozone
FEUZ Etf  USD 40.87  0.28  0.69%   
The current 90-days correlation between First Trust Eurozone and First Trust Germany is 0.81 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trust Correlation With Market

Good diversification

The correlation between First Trust Eurozone and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Eurozone and DJI 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 Eurozone. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with First Etf

  0.73VGK Vanguard FTSE EuropePairCorr
  0.74EZU iShares MSCI EurozonePairCorr
  0.92BBEU JPMorgan BetaBuildersPairCorr
  0.93IEUR iShares Core MSCIPairCorr
  0.95FEZ SPDR EURO STOXXPairCorr
  0.61HEDJ WisdomTree Europe HedgedPairCorr
  0.81DBEU Xtrackers MSCI EuropePairCorr
  0.76HEZU iShares Currency HedgedPairCorr
  0.99FEP First Trust EuropePairCorr
  0.7PFE Pfizer Inc Aggressive PushPairCorr
  0.73KO Coca Cola Sell-off TrendPairCorr

Moving against First Etf

  0.63YCS ProShares UltraShort YenPairCorr
  0.6MLPR ETRACS Quarterly PayPairCorr
  0.56TBT ProShares UltraShortPairCorr
  0.55SGG Barclays CapitalPairCorr
  0.52ATMP Barclays ETN Select Low VolatilityPairCorr
  0.51DIG ProShares Ultra OilPairCorr
  0.72BAC Bank of America Aggressive PushPairCorr
  0.7DIS Walt Disney Aggressive PushPairCorr
  0.68JPM JPMorgan Chase Sell-off TrendPairCorr
  0.62TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.6CVX Chevron Corp Sell-off TrendPairCorr
  0.54AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.43AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

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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