First Trust Correlations

Etfs . USA . 
Etf . First Trust Large
FTA Etf  USD 83.49  0.30  0.36%   
The current 90-days correlation between First Trust Large and First Trust Large is 0.74 (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

Very poor diversification

The correlation between First Trust Large and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Large 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 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

  0.97VTV Vanguard Value IndexPairCorr
  0.97VYM Vanguard High DividendPairCorr
  0.99IWD iShares Russell 1000PairCorr
  0.94DGRO iShares Core DividendPairCorr
  0.98IVE iShares SP 500PairCorr
  0.98DVY iShares Select DividendPairCorr
  0.98SPYV SPDR Portfolio SPPairCorr
  0.94FVD First Trust ValuePairCorr
  0.99IUSV iShares Core SPPairCorr
  0.79NOBL ProShares SP 500PairCorr
  0.68NVDL GraniteShares 15x LongPairCorr
  0.68NVDX T Rex 2XPairCorr
  0.69NVDU Direxion Daily NVDAPairCorr
  0.9CRPT First Trust SkyBridgePairCorr
  0.87BITX Volatility Shares TrustPairCorr
  0.85CONL GraniteShares ETF TrustPairCorr
  0.88DAPP VanEck Digital TransPairCorr
  0.91DPST Direxion Daily RegionalPairCorr
  0.87WGMI Valkyrie Bitcoin MinersPairCorr
  0.79HD Home DepotPairCorr
  0.91CVX Chevron Corp Sell-off TrendPairCorr
  0.97AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.87WMT Walmart Aggressive PushPairCorr
  0.77CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.64XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.88CSCO Cisco Systems Sell-off TrendPairCorr
  0.88DIS Walt Disney Sell-off TrendPairCorr
  0.73HPQ HP IncPairCorr
  0.77TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr

Moving against First Etf

  0.72PFE Pfizer Inc Aggressive PushPairCorr
  0.71MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.59BA Boeing Fiscal Year End 29th 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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