First Trust Correlations

Etfs . USA . 
Etf . First Trust Exchange Traded
YJUN Etf  USD 22.06  0.04  0.18%   
The current 90-days correlation between First Trust Exchange and First Trust Exchange Traded is 0.88 (i.e., Very poor diversification). 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 Exchange Traded moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Weak diversification

The correlation between First Trust Exchange Traded and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Exchange Traded and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in First Trust Exchange Traded. 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

  0.73INOV Innovator ETFs TrustPairCorr
  0.73JNJ Johnson Johnson Sell-off TrendPairCorr
  0.84MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.9KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr

Moving against First Etf

  0.78QTOC Innovator ETFs TrustPairCorr
  0.78TSJA TSJAPairCorr
  0.77XTOC Innovator ETFs TrustPairCorr
  0.77DSJA DSJAPairCorr
  0.71DNOV FT Cboe VestPairCorr
  0.68PJAN Innovator SP 500PairCorr
  0.67XTJA Innovator ETFs TrustPairCorr
  0.66XDJA Innovator ETFs TrustPairCorr
  0.65BUFD FT Cboe VestPairCorr
  0.63BUFR First Trust CboePairCorr
  0.63XTAP Innovator Equity AccPairCorr
  0.62PMAY Innovator SP 500PairCorr
  0.61PJUN Innovator SP 500PairCorr
  0.6QTJA Innovator ETFs TrustPairCorr
  0.6QTAP Innovator Growth 100PairCorr
  0.59PSEP Innovator SP 500PairCorr
  0.59PJUL Innovator SP 500PairCorr
  0.58PAUG Innovator Equity PowerPairCorr
  0.56UPRO ProShares UltraPro SP500PairCorr
  0.86BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.78WMT Walmart Aggressive PushPairCorr
  0.74CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.72T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.65AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.58AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.44INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.32HD Home DepotPairCorr

Related Correlations Analysis

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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   
YDEC
+ 1.0
YMAR
FJUN
+ 0.99
QJUN
YSEP
+ 0.98
YMAR
YDEC
+ 0.97
YSEP
  
High negative correlations   
FJUN
- 0.62
YDEC
YDEC
- 0.59
QJUN
FJUN
- 0.59
YMAR
QJUN
- 0.56
YMAR
FJUN
- 0.47
YSEP
YSEP
- 0.43
QJUN

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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