Franklin FTSE Correlations

Etfs . USA . 
Etf . Franklin FTSE Asia
FLAX Etf  USD 23.96  0.11  0.46%   
The current 90-days correlation between Franklin FTSE Asia and Franklin FTSE Australia is 0.66 (i.e., Poor 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

Weak diversification

The correlation between Franklin FTSE Asia and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin FTSE Asia 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 Asia. 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

  1.0AAXJ iShares MSCI AllPairCorr
  0.95AIA iShares Asia 50PairCorr
  0.9GMF SPDR SP EmergingPairCorr
  0.68DVYA iShares AsiaPacificPairCorr
  0.76FPA First Trust AsiaPairCorr
  0.94MINV Matthews Asia InnovatorsPairCorr
  0.88ADIV SmartETFs Asia PacificPairCorr
  0.79SHLD Global X FundsPairCorr
  0.78GDXU MicroSectors Gold MinersPairCorr
  0.78JNJ Johnson JohnsonPairCorr
  0.81VZ Verizon CommunicationsPairCorr
  0.79MCD McDonaldsPairCorr
  0.81T ATT Inc Earnings Call TomorrowPairCorr
  0.76INTC IntelPairCorr
  0.7IBM International BusinessPairCorr

Moving against Franklin Etf

  0.41WINN Harbor Long TermPairCorr
  0.35HUM Humana IncPairCorr
  0.59CAT CaterpillarPairCorr
  0.58MSFT MicrosoftPairCorr
  0.54AXP American ExpressPairCorr
  0.42AA Alcoa CorpPairCorr

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
+ 0.9
FLJP
FLJH
+ 0.35
FLJP
FLIN
+ 0.26
FLJH
FLJH
+ 0.24
FLAU
FLGR
+ 0.04
FLJH
FLIN
+ 0.03
FLAU
  
High negative correlations   
FLGR
- 0.79
FLIN
FLIN
- 0.55
FLJP
FLGR
- 0.13
FLAU
FLJP
- 0.03
FLAU

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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