Franklin Templeton Correlations

INCM Etf

USD 26.84 0.07 0.26%

The current 90-days correlation between Franklin Templeton ETF and Draco Evolution AI is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Franklin Templeton moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Franklin Templeton ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Franklin Templeton Correlation With Market

Significant diversification

The correlation between Franklin Templeton ETF and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Templeton ETF and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Franklin Templeton ETF. 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

0.86	AOM	iShares Core Moderate	Pair Corr
0.96	RPAR	RPAR Risk Parity	Pair Corr
0.94	AOK	iShares Core Conservative	Pair Corr
0.94	EAOK	iShares ESG Aware	Pair Corr
0.85	EAOM	iShares ESG Aware	Pair Corr
0.76	GDXU	MicroSectors Gold Miners	Pair Corr
0.73	T	ATT Inc Sell-off Trend	Pair Corr
0.69	IBM	International Business	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.67	VZ	Verizon Communications	Pair Corr
0.88	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.69	DD	Dupont De Nemours	Pair Corr
0.62	MCD	McDonalds	Pair Corr

Moving against Franklin Etf

0.57	MSFT	Microsoft Aggressive Push	Pair Corr
0.6	MRK	Merck Company	Pair Corr
0.4	AA	Alcoa Corp	Pair Corr
0.37	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.08	0.46	-0.53	0.3	0.41	0.28	0.9	-0.74	-0.03	META
MSFT	0.08		-0.53	0.02	-0.67	0.81	0.68	0.35	0.27	-0.35	MSFT
UBER	0.46	-0.53		-0.39	0.63	-0.34	-0.33	0.33	-0.74	0.38	UBER
F	-0.53	0.02	-0.39		0.0	-0.05	-0.16	-0.37	0.51	0.36	F
T	0.3	-0.67	0.63	0.0		-0.51	-0.71	0.16	-0.65	0.6	T
A	0.41	0.81	-0.34	-0.05	-0.51		0.64	0.64	0.07	-0.23	A
CRM	0.28	0.68	-0.33	-0.16	-0.71	0.64		0.36	0.23	-0.61	CRM
JPM	0.9	0.35	0.33	-0.37	0.16	0.64	0.36		-0.63	0.06	JPM
MRK	-0.74	0.27	-0.74	0.51	-0.65	0.07	0.23	-0.63		-0.32	MRK
XOM	-0.03	-0.35	0.38	0.36	0.6	-0.23	-0.61	0.06	-0.32		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
A	+ 0.81	MSFT
CRM	+ 0.68	MSFT
CRM	+ 0.64	A
JPM	+ 0.64	A
T	+ 0.63	UBER

High negative correlations

MRK	- 0.74	UBER
MRK	- 0.74	META
CRM	- 0.71	T
T	- 0.67	MSFT
MRK	- 0.65	T
MRK	- 0.63	JPM

Franklin Templeton Competition Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Templeton 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 Templeton'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	1.63	0.04	0.02	0.00	2.27	(1.46)	2.96	(3.73)	8.90
MSFT	1.11	(0.18)	0.00	5.95	0.00	0.00	2.58	(2.14)	10.31
UBER	1.95	0.38	0.17	23.98	2.11	(2.17)	4.72	(3.13)	12.75
F	1.44	0.14	0.06	0.09	2.12	(1.42)	2.71	(2.88)	10.14
T	0.99	0.29	0.19	0.56	1.43	(1.11)	1.90	(1.55)	11.66
A	1.15	(0.18)	0.00	4.17	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.29)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.10	0.05	0.05	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.16	(0.11)	0.00	1.03	0.00	0.00	2.07	(1.80)	11.58
XOM	1.03	0.13	0.10	0.27	1.28	(1.06)	2.55	(2.36)	5.89

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