Franklin Liberty Correlations

FLCO Etf

USD 21.58 0.06 0.28%

The current 90-days correlation between Franklin Liberty Inv and Franklin Liberty Short is 0.56 (i.e., Very 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 Investment 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 Investment and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Liberty Investment 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 Investment. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Franklin Etf

1.0	LQD	iShares iBoxx Investment Aggressive Push	Pair Corr
1.0	IGIB	iShares 5 10	Pair Corr
1.0	USIG	iShares Broad USD	Pair Corr
0.98	SPIB	SPDR Barclays Interm	Pair Corr
1.0	SUSC	iShares ESG USD	Pair Corr
1.0	QLTA	iShares Aaa	Pair Corr
1.0	CORP	PIMCO Investment Grade	Pair Corr
1.0	GIGB	Goldman Sachs Access	Pair Corr
1.0	VTC	Vanguard Total Corporate	Pair Corr
0.98	BND	Vanguard Total Bond	Pair Corr
0.75	VEA	Vanguard FTSE Developed	Pair Corr
0.84	KO	Coca Cola Sell-off Trend	Pair Corr
0.65	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr

Moving against Franklin Etf

0.67	VUG	Vanguard Growth Index	Pair Corr
0.63	VTI	Vanguard Total Stock	Pair Corr
0.62	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.62	IVV	iShares Core SP	Pair Corr
0.62	VO	Vanguard Mid Cap	Pair Corr
0.6	VB	Vanguard Small Cap	Pair Corr
0.5	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.82	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.77	BAC	Bank of America Aggressive Push	Pair Corr
0.75	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.65	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.61	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.59	DIS	Walt Disney Aggressive Push	Pair Corr
0.58	WMT	Walmart Aggressive Push	Pair Corr
0.44	T	ATT Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	FTSD	GIGB	FLCB	FLMB	FLQL
FTSD		0.05	-0.09	0.5	0.59	FTSD
GIGB	0.05		0.98	0.66	-0.55	GIGB
FLCB	-0.09	0.98		0.59	-0.68	FLCB
FLMB	0.5	0.66	0.59		-0.13	FLMB
FLQL	0.59	-0.55	-0.68	-0.13		FLQL
	FTSD	GIGB	FLCB	FLMB	FLQL

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FLCB	+ 0.98	GIGB
FLMB	+ 0.66	GIGB
FLQL	+ 0.59	FTSD
FLMB	+ 0.59	FLCB
FLMB	+ 0.5	FTSD
GIGB	+ 0.05	FTSD

High negative correlations

FLQL	- 0.68	FLCB
FLQL	- 0.55	GIGB
FLQL	- 0.13	FLMB
FLCB	- 0.09	FTSD

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
FTSD	0.05	0.01	(1.62)	(0.28)	0.00	(0.06)	0.12	(0.10)	0.32
GIGB	0.26	(0.02)	0.00	1.92	0.00	0.00	0.49	(0.58)	1.70
FLCB	0.23	(0.02)	0.00	0.43	0.00	0.00	0.47	(0.56)	1.35
FLMB	0.23	0.03	(0.33)	(0.04)	0.30	(0.27)	0.50	(0.41)	2.08
FLQL	0.58	(0.01)	(0.04)	0.10	0.75	(0.62)	1.30	(1.51)	3.81

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC