Franklin FTSE Correlations

FLEE Etf

USD 29.51 0.00 0.00%

The current 90-days correlation between Franklin FTSE Europe and Franklin FTSE United is -0.04 (i.e., Good diversification). The correlation of Franklin FTSE 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.

Franklin FTSE Correlation With Market

Significant diversification

The correlation between Franklin FTSE Europe and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin FTSE Europe and DJI 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 FTSE Europe. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Franklin Etf

0.93	VGK	Vanguard FTSE Europe	Pair Corr
0.8	EZU	iShares MSCI Eurozone	Pair Corr
0.93	BBEU	JPMorgan BetaBuilders	Pair Corr
0.93	IEUR	iShares Core MSCI	Pair Corr
0.76	FEZ	SPDR EURO STOXX	Pair Corr
0.93	IEV	iShares Europe ETF	Pair Corr
0.87	FEP	First Trust Europe	Pair Corr
0.61	KO	Coca Cola Earnings Call This Week	Pair Corr

Moving against Franklin Etf

0.4	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.46	DIS	Walt Disney Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FLGB	SPEU	FLGR	FLJP	FLIY
FLGB		0.79	0.71	0.68	0.02	FLGB
SPEU	0.79		0.61	0.43	0.11	SPEU
FLGR	0.71	0.61		0.43	0.54	FLGR
FLJP	0.68	0.43	0.43		-0.31	FLJP
FLIY	0.02	0.11	0.54	-0.31		FLIY
	FLGB	SPEU	FLGR	FLJP	FLIY

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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

SPEU	+ 0.79	FLGB
FLGR	+ 0.71	FLGB
FLJP	+ 0.68	FLGB
FLGR	+ 0.61	SPEU
FLIY	+ 0.54	FLGR
FLJP	+ 0.43	SPEU

High negative correlations

FLIY

- 0.31

FLJP

Franklin FTSE Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin FTSE 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 FTSE'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
FLGB	0.60	(0.01)	(0.09)	0.05	0.76	(0.64)	1.15	(1.18)	3.28
SPEU	0.61	(0.02)	0.00	(0.24)	0.00	0.00	1.16	(1.57)	3.90
FLGR	0.75	0.06	0.00	0.29	0.81	(0.80)	1.86	(1.49)	4.24
FLJP	0.68	0.02	(0.03)	0.15	0.79	(0.77)	1.52	(1.29)	5.29
FLIY	0.87	0.10	0.01	1.89	0.96	(0.93)	1.70	(1.84)	4.58

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