Franklin Core Correlations

CBL Etf

CAD 23.92 0.21 0.89%

The current 90-days correlation between Franklin Core ETF and Franklin FTSE Index is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Franklin Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Franklin Core ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Franklin Core Correlation With Market

Poor diversification

The correlation between Franklin Core ETF and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Core ETF and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Franklin Core 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 Core 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 Core - 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 Core ETF to buy it.

Moving together with Franklin Etf

0.73	PRP	Purpose Conservative	Pair Corr
0.81	EIT-UN	Canoe EIT Income	Pair Corr
0.79	XMC	iShares SP Mid	Pair Corr
0.7	NXF	First Asset Energy	Pair Corr
0.8	CGXF	CI Gold Giants	Pair Corr
0.72	ZMID	BMO SP Mid	Pair Corr
0.8	ZDM	BMO MSCI EAFE	Pair Corr
0.81	NMNG	Ninepoint Mining Evo	Pair Corr
0.63	RBNK	RBC Canadian Bank	Pair Corr
0.79	PDIV	Purpose Enhanced Dividend	Pair Corr
0.81	HAC	Global X Seasonal	Pair Corr
0.63	ZWA	BMO Covered Call	Pair Corr
0.75	XSH	iShares Core Canadian	Pair Corr
0.68	VVSG	Vanguard Canadian Ultra	Pair Corr
0.65	LIFE	Evolve Global Healthcare	Pair Corr
0.74	GCTB	Guardian Ultra Short	Pair Corr
0.7	HXU	BetaPro SP TSX	Pair Corr
0.65	XCNS	iShares Core Conservative	Pair Corr
0.82	XEU	iShares MSCI Europe	Pair Corr
0.66	XSTB	iShares ESG Aware	Pair Corr
0.72	DXAU	Dynamic Active Global	Pair Corr
0.71	HPF	Harvest Energy Leaders	Pair Corr
0.83	XBAL	iShares Core Balanced	Pair Corr
0.79	AMAX	Hamilton Gold Producer	Pair Corr

Moving against Franklin Etf

0.36

HND

BetaPro Natural Gas

Pair Corr

Related Correlations Analysis

	FWCP	FLCP	FGOV	EQY	GRO	FGSG	FCSI	FCRU	FLAM
FWCP		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	FWCP
FLCP	0.0		0.75	0.16	0.18	0.0	0.42	-0.17	0.01	FLCP
FGOV	0.0	0.75		0.03	-0.12	0.0	0.2	-0.38	-0.02	FGOV
EQY	0.0	0.16	0.03		0.81	0.0	0.79	0.77	0.39	EQY
GRO	0.0	0.18	-0.12	0.81		0.0	0.74	0.82	0.04	GRO
FGSG	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	FGSG
FCSI	0.0	0.42	0.2	0.79	0.74	0.0		0.5	0.33	FCSI
FCRU	0.0	-0.17	-0.38	0.77	0.82	0.0	0.5		0.19	FCRU
FLAM	0.0	0.01	-0.02	0.39	0.04	0.0	0.33	0.19		FLAM
	FWCP	FLCP	FGOV	EQY	GRO	FGSG	FCSI	FCRU	FLAM

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

FCRU	+ 0.82	GRO
GRO	+ 0.81	EQY
FCSI	+ 0.79	EQY
FCRU	+ 0.77	EQY
FGOV	+ 0.75	FLCP
FCSI	+ 0.74	GRO

High negative correlations

FCRU	- 0.38	FGOV
FCRU	- 0.17	FLCP
GRO	- 0.12	FGOV
FLAM	- 0.02	FGOV
FLAM	- 0.0	FGSG
FCRU	- 0.0	FGSG

Franklin Core Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Core 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 Core'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
FWCP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FLCP	0.17	0.00	(0.11)	0.05	0.22	(0.19)	0.39	(0.39)	1.22
FGOV	0.15	0.00	(0.07)	(0.01)	0.22	(0.39)	0.44	(0.34)	1.54
EQY	0.28	0.01	(0.03)	0.15	0.30	(0.80)	1.40	(0.74)	3.16
GRO	0.21	0.05	0.00	(1.09)	0.00	0.00	1.32	(0.71)	2.80
FGSG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FCSI	0.78	0.00	(0.02)	0.04	0.93	(0.89)	1.71	(1.29)	4.39
FCRU	0.10	0.01	0.00	0.15	0.00	0.00	0.09	0.00	3.96
FLAM	0.49	(0.03)	0.00	(0.03)	0.00	0.00	1.01	(1.25)	3.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in Franklin Core 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.

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