Franklin Templeton Correlations

IQM Etf

USD 59.37 0.27 0.45%

The current 90-days correlation between Franklin Templeton ETF and Invesco Quality Municipal is 0.03 (i.e., Significant 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

Very weak diversification

The correlation between Franklin Templeton ETF and DJI is 0.47 (i.e., Very weak 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 producer price index.

Moving together with Franklin Etf

0.95	VGT	Vanguard Information	Pair Corr
0.94	XLK	Technology Select Sector	Pair Corr
0.95	IYW	iShares Technology ETF	Pair Corr
0.93	SMH	VanEck Semiconductor ETF	Pair Corr
0.93	SOXX	iShares Semiconductor ETF	Pair Corr
0.95	FTEC	Fidelity MSCI Information	Pair Corr
0.89	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.83	FDN	First Trust Dow	Pair Corr
0.94	IGM	iShares Expanded Tech	Pair Corr
0.89	USD	ProShares Ultra Semi	Pair Corr
0.88	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.95	FNGO	MicroSectors FANG Index	Pair Corr
0.73	NAIL	Direxion Daily Homeb	Pair Corr
0.95	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.63	FCG	First Trust Natural	Pair Corr
0.74	GUSH	Direxion Daily SP	Pair Corr
0.75	DUSL	Direxion Daily Indus	Pair Corr
0.79	HPQ	HP Inc	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.8	HD	Home Depot	Pair Corr
0.81	MSFT	Microsoft	Pair Corr
0.73	BA	Boeing	Pair Corr
0.68	DIS	Walt Disney	Pair Corr
0.88	AXP	American Express	Pair Corr
0.82	AA	Alcoa Corp	Pair Corr

Moving against Franklin Etf

0.81	TRV	The Travelers Companies	Pair Corr
0.71	T	ATT Inc Earnings Call This Week	Pair Corr
0.57	PG	Procter Gamble	Pair Corr
0.41	IBM	International Business	Pair Corr
0.33	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	IQI	MNP	BUYZ	MQT	MUE
IQI		0.0	0.14	0.9	0.79	IQI
MNP	0.0		0.0	0.0	0.0	MNP
BUYZ	0.14	0.0		0.24	0.44	BUYZ
MQT	0.9	0.0	0.24		0.9	MQT
MUE	0.79	0.0	0.44	0.9		MUE
	IQI	MNP	BUYZ	MQT	MUE

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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

MQT	+ 0.9	IQI
MUE	+ 0.9	MQT
MUE	+ 0.79	IQI
MUE	+ 0.44	BUYZ
MQT	+ 0.24	BUYZ
BUYZ	+ 0.14	IQI

High negative correlations

MUE	- 0.0	MNP
MQT	- 0.0	MNP
BUYZ	- 0.0	MNP
MNP	- 0.0	IQI

Franklin Templeton Constituents 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
IQI	0.48	(0.04)	(0.34)	1.17	(0.83)	2.53
MNP	0.00	0.00	0.00	0.00	0.00	0.00
BUYZ	1.13	(0.09)	(0.15)	1.92	(2.98)	6.46
MQT	0.48	(0.04)	(0.30)	1.02	(0.97)	3.03
MUE	0.55	(0.09)	(0.41)	0.99	(1.25)	2.77

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