Franklin Responsibly Correlations

FGDL Etf

40.89 0.48 1.19%

The current 90-days correlation between Franklin Responsibly and MicroSectors Gold 3X is -0.97 (i.e., Pay attention - limited upside). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Franklin Responsibly moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Franklin Responsibly Sourced moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Franklin Responsibly Correlation With Market

Good diversification

The correlation between Franklin Responsibly Sourced and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Responsibly Sourced 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 Franklin Responsibly Sourced. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Franklin Etf

0.99	GDX	VanEck Gold Miners Aggressive Push	Pair Corr
0.92	SIL	Global X Silver	Pair Corr
0.89	SILJ	Amplify ETF Trust	Pair Corr
0.99	SGDM	Sprott Gold Miners	Pair Corr
0.96	SGDJ	Sprott Junior Gold	Pair Corr
0.97	GOAU	US Global GO	Pair Corr
0.95	GOEX	Global X Gold	Pair Corr
0.97	GDXU	MicroSectors Gold Miners	Pair Corr
0.96	JMST	JPMorgan Ultra Short	Pair Corr
0.86	BBEM	JP Morgan Exchange	Pair Corr
0.91	GHMS	Goose Hollow Multi	Pair Corr
0.93	ACWV	iShares MSCI Global	Pair Corr
0.74	MCD	McDonalds	Pair Corr
0.83	IBM	International Business	Pair Corr
0.7	INTC	Intel	Pair Corr
0.84	MMM	3M Company	Pair Corr
0.88	JNJ	Johnson Johnson	Pair Corr
0.81	VZ	Verizon Communications Aggressive Push	Pair Corr
0.88	GE	GE Aerospace	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.83	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Franklin Etf

0.62	WTMF	WisdomTree Managed	Pair Corr
0.34	OIH	VanEck Oil Services	Pair Corr
0.34	ARKW	ARK Next Generation	Pair Corr
0.69	MRK	Merck Company	Pair Corr
0.59	CAT	Caterpillar	Pair Corr
0.53	HPQ	HP Inc Sell-off Trend	Pair Corr
0.46	AXP	American Express	Pair Corr
0.44	HD	Home Depot	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.02	0.56	-0.5	0.23	0.43	0.32	0.9	-0.71	-0.07	META
MSFT	0.02		-0.59	-0.04	-0.83	0.75	0.88	0.21	0.41	-0.57	MSFT
UBER	0.56	-0.59		-0.31	0.78	-0.3	-0.5	0.48	-0.84	0.55	UBER
F	-0.5	-0.04	-0.31		0.06	-0.12	-0.19	-0.35	0.4	0.38	F
T	0.23	-0.83	0.78	0.06		-0.65	-0.74	0.07	-0.63	0.59	T
A	0.43	0.75	-0.3	-0.12	-0.65		0.83	0.62	0.15	-0.41	A
CRM	0.32	0.88	-0.5	-0.19	-0.74	0.83		0.42	0.23	-0.64	CRM
JPM	0.9	0.21	0.48	-0.35	0.07	0.62	0.42		-0.6	0.03	JPM
MRK	-0.71	0.41	-0.84	0.4	-0.63	0.15	0.23	-0.6		-0.36	MRK
XOM	-0.07	-0.57	0.55	0.38	0.59	-0.41	-0.64	0.03	-0.36		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.88	MSFT
CRM	+ 0.83	A
T	+ 0.78	UBER
A	+ 0.75	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.84	UBER
T	- 0.83	MSFT
CRM	- 0.74	T
MRK	- 0.71	META
A	- 0.65	T
XOM	- 0.64	CRM

Franklin Responsibly Competition Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Responsibly 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 Franklin Responsibly'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.61	0.05	0.02	0.04	2.24	(1.45)	2.96	(3.73)	8.90
MSFT	1.07	(0.17)	0.00	(0.20)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.31	0.14	0.48	2.11	(2.12)	4.72	(3.13)	12.75
F	1.44	0.11	0.05	(0.36)	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	(24.36)	1.45	(1.12)	1.90	(1.55)	11.66
A	1.13	(0.15)	0.00	(0.15)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.22)	0.00	0.00	2.72	(3.53)	8.88
JPM	1.09	0.14	0.08	0.11	1.55	(1.09)	2.16	(1.98)	6.85
MRK	1.22	(0.15)	0.00	1.32	0.00	0.00	2.07	(2.25)	11.58
XOM	1.02	0.17	0.12	0.40	1.24	(1.06)	2.55	(2.36)	5.89

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