Franklin Templeton Correlations

DIEM Etf  USD 24.98  0.02  0.08%   
The correlation of Franklin Templeton 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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Poor diversification

The correlation between Franklin Templeton ETF and NYA is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Templeton ETF and NYA 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 Templeton ETF. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in income.
The ability to find closely correlated positions to Franklin Templeton could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Franklin Templeton when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Franklin Templeton - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Franklin Templeton ETF to buy it.

Moving together with Franklin Etf

  0.94VWO Vanguard FTSE EmergingPairCorr
  0.94IEMG iShares Core MSCI Sell-off TrendPairCorr
  0.88EEM iShares MSCI Emerging Sell-off TrendPairCorr
  0.94SPEM SPDR Portfolio EmergingPairCorr
  0.91FNDE Schwab FundamentalPairCorr
  0.92ESGE iShares ESG Aware Sell-off TrendPairCorr
  0.93DGS WisdomTree EmergingPairCorr
  0.93XSOE WisdomTree EmergingPairCorr
  0.91EMXC iShares MSCI Emerging Sell-off TrendPairCorr
  0.92DEM WisdomTree EmergingPairCorr
  0.74OIH VanEck Oil ServicesPairCorr
  0.82ARKW ARK Next GenerationPairCorr
  0.67IAUF iShares Gold Strategy Low VolatilityPairCorr
  0.88WTMF WisdomTree ManagedPairCorr
  0.84EWC iShares MSCI CanadaPairCorr

Moving against Franklin Etf

  0.67HUM Humana Inc Earnings Call This WeekPairCorr
  0.54CSCO Cisco Systems Fiscal Quarter End 30th of April 2024 PairCorr
  0.49INTC Intel Earnings Call Next WeekPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.72  0.39  0.25  0.32  1.28 
MSFT  0.92  0.04  0.04  0.09  0.99 
UBER  1.60  0.13  0.10  0.11  1.49 
F  1.59  0.03  0.04  0.06  1.83 
T  0.90 (0.03) 0.00 (0.03) 0.00 
A  1.18 (0.01) 0.00  0.03  1.41 
CRM  1.23 (0.03)(0.01) 0.02  1.93 
JPM  0.78  0.05  0.04  0.09  1.32 
MRK  0.64  0.05  0.06  0.11  0.66 
XOM  0.83  0.24  0.23  0.49  0.65 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Franklin Templeton without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Piotroski F Score Now


Piotroski F Score

Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals
All  Next Launch Module

Already Invested in Franklin Templeton ETF?

The danger of trading Franklin Templeton ETF is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Franklin Templeton is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Franklin Templeton. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Franklin Templeton ETF is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities 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 tightly coupled with the direction of predictive economic indicators such as signals in income.
Note that the Franklin Templeton ETF information on this page should be used as a complementary analysis to other Franklin Templeton's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
The market value of Franklin Templeton ETF is measured differently than its book value, which is the value of Franklin that is recorded on the company's balance sheet. Investors also form their own opinion of Franklin Templeton's value that differs from its market value or its book value, called intrinsic value, which is Franklin Templeton's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Franklin Templeton's market value can be influenced by many factors that don't directly affect Franklin Templeton's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Franklin Templeton's value and its price as these two are different measures arrived at by different means. Investors typically determine if Franklin Templeton is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Franklin Templeton's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.