Franklin Liberty Correlations

FLBL Etf

USD 24.03 0.00 0.00%

The current 90-days correlation between Franklin Liberty Senior and Franklin Liberty High is 0.36 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Franklin Liberty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Franklin Liberty Senior moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Franklin Liberty Correlation With Market

Good diversification

The correlation between Franklin Liberty Senior and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Liberty Senior 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 Liberty Senior. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Franklin Etf

0.86	SRLN	SPDR Blackstone Senior	Pair Corr
0.75	FTSL	First Trust Senior	Pair Corr
0.91	SEIX	Virtus ETF Trust	Pair Corr
0.83	JBBB	Janus Detroit Street	Pair Corr
0.78	FLRT	Pacer Pacific Asset	Pair Corr
0.9	PFRL	PGIM ETF Trust	Pair Corr
0.79	VTV	Vanguard Value Index	Pair Corr
0.61	VO	Vanguard Mid Cap	Pair Corr
0.62	MMM	3M Company	Pair Corr
0.72	WMT	Walmart	Pair Corr

Related Correlations Analysis

	FLHY	FLRT	FTSL	FLIA	FTSD
FLHY		0.91	0.84	0.28	0.75	FLHY
FLRT	0.91		0.87	0.19	0.71	FLRT
FTSL	0.84	0.87		0.22	0.6	FTSL
FLIA	0.28	0.19	0.22		-0.23	FLIA
FTSD	0.75	0.71	0.6	-0.23		FTSD
	FLHY	FLRT	FTSL	FLIA	FTSD

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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

FLRT	+ 0.91	FLHY
FTSL	+ 0.87	FLRT
FTSL	+ 0.84	FLHY
FTSD	+ 0.75	FLHY
FTSD	+ 0.71	FLRT
FTSD	+ 0.6	FTSL

High negative correlations

FTSD

- 0.23

FLIA

Franklin Liberty Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Liberty 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 Liberty'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
FLHY	0.21	0.00	0.13	(0.08)	0.28	(0.21)	0.46	(0.42)	1.44
FLRT	0.06	0.00	0.41	0.04	0.00	(0.07)	0.15	(0.13)	0.47
FTSL	0.07	0.00	0.36	(0.79)	0.00	(0.09)	0.13	(0.15)	0.81
FLIA	0.24	(0.02)	0.00	0.47	0.00	0.00	0.55	(0.49)	1.64
FTSD	0.08	0.01	0.37	(1.26)	0.00	(0.09)	0.18	(0.18)	0.66

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