Franklin FTSE Correlations

Etfs . USA . 
Etf . Franklin FTSE Australia
FLAU Etf  USD 28.07  0.04  0.14%   
The current 90-days correlation between Franklin FTSE Australia and Franklin FTSE Canada is -0.13 (i.e., Good diversification). The correlation of Franklin FTSE 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.

Franklin FTSE Correlation With Market

Poor diversification

The correlation between Franklin FTSE Australia and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin FTSE Australia 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 FTSE Australia. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Franklin Etf

  0.76BBCA JPMorgan BetaBuildersPairCorr
  0.87EWC iShares MSCI CanadaPairCorr
  0.99EWA iShares MSCI AustraliaPairCorr
  0.9KSA iShares MSCI SaudiPairCorr
  0.89VTI Vanguard Total StockPairCorr
  0.89SPY SPDR SP 500 Aggressive PushPairCorr
  0.89IVV iShares Core SPPairCorr
  0.75VTV Vanguard Value IndexPairCorr
  0.78VUG Vanguard Growth IndexPairCorr
  0.93VO Vanguard Mid CapPairCorr
  0.81VB Vanguard Small CapPairCorr
  0.8HD Home DepotPairCorr
  0.8AXP American ExpressPairCorr
  0.8BAC Bank of America Aggressive PushPairCorr
  0.67HPQ HP IncPairCorr
  0.88JPM JPMorgan ChasePairCorr

Moving against Franklin Etf

  0.5MRK Merck CompanyPairCorr
  0.42TRV The Travelers CompaniesPairCorr

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   
FLGR
+ 0.96
FLGB
FLJP
+ 0.92
FLGB
FLJP
+ 0.86
FLGR
FLGB
+ 0.35
FLCA
FLJP
+ 0.35
FLCA
FLGR
+ 0.18
FLCA
  
High negative correlations   
FLJP
- 0.0
FLIY
FLGR
- 0.0
FLIY
FLIY
- 0.0
FLGB
FLIY
- 0.0
FLCA

Franklin FTSE Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin FTSE 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 FTSE'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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