First Trust Dow 30 Equal Weight ETF
Top 10 Holdings
What is EDOW?
The First Trust Dow 30 Equal Weight ETF (the Fund ) seeks investment results that correspond generally to the price and yield (before the Fund s fees and expenses) of an equity index called the Dow Jones Industrial Average Equal Weight Index (the Index ). The Dow Jones Industrial Average Equal Weight is the equal-weight version of the Dow Jones Industrial Average, which seeks to measure the performance of 30 U.S. blue-chip companies.
ETFs related toEDOW
ETFs correlated to EDOW include UDOW, DIA, DDM
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
Equity Index Rotation
Create your own algorithmic trading strategy with EDOW using Composer
We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.