Franklin Exponential Correlations

XDAT Etf

USD 24.19 0.25 1.04%

The current 90-days correlation between Franklin Exponential Data and Franklin Disruptive Commerce is 0.93 (i.e., Almost no diversification). The correlation of Franklin Exponential 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 Exponential Correlation With Market

Poor diversification

The correlation between Franklin Exponential Data and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Exponential Data and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Franklin Exponential Data. 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

0.81	VGT	Vanguard Information	Pair Corr
0.9	XLK	Technology Select Sector	Pair Corr
0.85	IYW	iShares Technology ETF	Pair Corr
0.78	SMH	VanEck Semiconductor ETF	Pair Corr
0.79	SOXX	iShares Semiconductor ETF	Pair Corr
0.66	CIBR	First Trust NASDAQ	Pair Corr
0.89	FTEC	Fidelity MSCI Information	Pair Corr
0.98	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.98	FDN	First Trust Dow	Pair Corr
0.89	IGM	iShares Expanded Tech	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.77	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.93	VBK	Vanguard Small Cap	Pair Corr
0.91	AXP	American Express	Pair Corr
0.73	JPM	JPMorgan Chase	Pair Corr
0.88	BAC	Bank of America Aggressive Push	Pair Corr
0.84	WMT	Walmart	Pair Corr
0.77	BA	Boeing	Pair Corr
0.81	HPQ	HP Inc	Pair Corr

Moving against Franklin Etf

0.98	FNGD	MicroSectors FANG Index	Pair Corr
0.54	JPST	JPMorgan Ultra Short	Pair Corr
0.32	GDXU	MicroSectors Gold Miners	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr
0.64	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.5	JNJ	Johnson Johnson	Pair Corr
0.43	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.38	T	ATT Inc Aggressive Push	Pair Corr
0.34	MCD	McDonalds	Pair Corr
0.32	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	BUYZ	IQM	VCLO	WUGI	LRNZ
BUYZ		0.8	0.0	0.91	0.95	BUYZ
IQM	0.8		0.0	0.79	0.73	IQM
VCLO	0.0	0.0		0.0	0.0	VCLO
WUGI	0.91	0.79	0.0		0.97	WUGI
LRNZ	0.95	0.73	0.0	0.97		LRNZ
	BUYZ	IQM	VCLO	WUGI	LRNZ

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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

LRNZ	+ 0.97	WUGI
LRNZ	+ 0.95	BUYZ
WUGI	+ 0.91	BUYZ
IQM	+ 0.8	BUYZ
WUGI	+ 0.79	IQM
LRNZ	+ 0.73	IQM

High negative correlations

LRNZ	- 0.0	VCLO
WUGI	- 0.0	VCLO
VCLO	- 0.0	IQM
VCLO	- 0.0	BUYZ

Franklin Exponential Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Exponential 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 Exponential'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
BUYZ	1.17	(0.10)	(0.08)	2.30	(2.98)	6.46
IQM	1.65	(0.18)	(0.13)	2.76	(4.11)	11.12
VCLO	0.00	0.00	0.00	0.00	0.00	0.00
WUGI	1.42	(0.09)	(0.07)	2.55	(3.58)	7.96
LRNZ	1.70	(0.10)	(0.06)	3.29	(3.34)	11.67

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