Franklin Liberty Correlations

FLMI Etf

USD 24.51 0.05 0.20%

The current 90-days correlation between Franklin Liberty Int and Franklin Liberty Federal is 0.59 (i.e., Very weak diversification). The correlation of Franklin Liberty 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 Liberty Correlation With Market

Average diversification

The correlation between Franklin Liberty Intermediate and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Liberty Intermediate 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 Liberty Intermediate. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Franklin Etf

0.88	HYD	VanEck High Yield	Pair Corr
0.68	SHYD	VanEck Short High	Pair Corr
0.95	FMHI	First Trust Municipal	Pair Corr
0.84	HYMU	BlackRock High Yield	Pair Corr
0.64	SVOL	Simplify Volatility	Pair Corr
0.67	VBR	Vanguard Small Cap	Pair Corr
0.67	VFMO	Vanguard Momentum Factor	Pair Corr
0.63	SPYV	SPDR Portfolio SP	Pair Corr
0.75	LRNZ	TrueShares Technology	Pair Corr
0.68	DFAS	Dimensional Small Cap	Pair Corr
0.67	CSF	VictoryShares Discovery	Pair Corr
0.61	BSJU	Invesco Exchange Traded	Pair Corr
0.64	VUSE	Vident Core Equity	Pair Corr

Moving against Franklin Etf

0.48	FBGX	UBS	Pair Corr
0.32	MAAX	MAAX	Pair Corr

Related Correlations Analysis

	FLMB	HMOP	MMIT	FMHI	FTSD
FLMB		0.95	0.89	0.96	0.0	FLMB
HMOP	0.95		0.88	0.96	0.21	HMOP
MMIT	0.89	0.88		0.89	0.15	MMIT
FMHI	0.96	0.96	0.89		0.08	FMHI
FTSD	0.0	0.21	0.15	0.08		FTSD
	FLMB	HMOP	MMIT	FMHI	FTSD

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FMHI	+ 0.96	FLMB
FMHI	+ 0.96	HMOP
HMOP	+ 0.95	FLMB
MMIT	+ 0.89	FLMB
FMHI	+ 0.89	MMIT
MMIT	+ 0.88	HMOP

High negative correlations

FTSD

- 0.0

FLMB

Franklin Liberty Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Liberty 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 Liberty'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
FLMB	0.25	(0.01)	(0.23)	0.00	0.36	(0.27)	0.51	(0.50)	2.05
HMOP	0.20	(0.01)	(0.30)	(0.01)	0.26	(0.21)	0.39	(0.39)	1.22
MMIT	0.18	0.00	(0.29)	0.09	0.24	(0.19)	0.38	(0.41)	1.45
FMHI	0.22	(0.01)	(0.27)	(0.04)	0.33	(0.23)	0.50	(0.45)	1.80
FTSD	0.07	0.00	(0.79)	0.21	0.00	(0.08)	0.18	(0.12)	0.49

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC