Franklin Income Correlations

INCE Etf

66.35 0.16 0.24%

The current 90-days correlation between Franklin Income Equity and Hennessy Stance ESG is 0.79 (i.e., Poor diversification). The correlation of Franklin Income 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 Income Correlation With Market

Very poor diversification

The correlation between Franklin Income Equity and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Income Equity and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Franklin Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Franklin Income Equity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Franklin Etf

0.99	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.97	VYM	Vanguard High Dividend	Pair Corr
0.98	IWD	iShares Russell 1000	Pair Corr
0.98	DGRO	iShares Core Dividend Sell-off Trend	Pair Corr
0.95	IVE	iShares SP 500	Pair Corr
0.95	SPYV	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.96	IUSV	iShares Core SP	Pair Corr
0.97	NOBL	ProShares SP 500	Pair Corr
0.97	FNDX	Schwab Fundamental Large Sell-off Trend	Pair Corr
0.98	VLUE	iShares MSCI USA	Pair Corr
0.77	TOT	Advisor Managed Port	Pair Corr
0.82	SHLD	Global X Defense	Pair Corr
0.73	LUX	Tema Global	Pair Corr
0.83	FB	ProShares Trust ProShares	Pair Corr
0.91	SWP	SWP Growth Income	Pair Corr
0.92	CALY	Callaway Golf Symbol Change	Pair Corr
0.8	VBK	Vanguard Small Cap	Pair Corr
0.93	RDIV	Invesco SP Ultra	Pair Corr
0.92	AHYB	American Century ETF	Pair Corr
0.96	BINC	BlackRock ETF Trust	Pair Corr
0.93	JNJ	Johnson Johnson	Pair Corr
0.9	MRK	Merck Company Aggressive Push	Pair Corr
0.68	KO	Coca Cola Earnings Call This Week	Pair Corr
0.96	DD	Dupont De Nemours	Pair Corr
0.87	AA	Alcoa Corp	Pair Corr
0.79	PFE	Pfizer Inc	Pair Corr
0.89	CVX	Chevron Corp	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.84	INTC	Intel	Pair Corr
0.93	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Franklin Etf

0.34	HUM	Humana Inc Earnings Call Tomorrow	Pair Corr
0.86	HPQ	HP Inc	Pair Corr
0.34	MMM	3M Company	Pair Corr

Related Correlations Analysis

	ONEO	SEPT	LSAT	BAMV	CNBS	RIET	EPHE	SMDX	FEBT	STNC
ONEO		0.91	0.39	0.98	0.38	0.93	0.89	0.96	0.96	0.98	ONEO
SEPT	0.91		0.41	0.92	0.42	0.79	0.78	0.89	0.97	0.86	SEPT
LSAT	0.39	0.41		0.42	0.44	0.31	0.26	0.53	0.38	0.37	LSAT
BAMV	0.98	0.92	0.42		0.41	0.91	0.83	0.94	0.95	0.94	BAMV
CNBS	0.38	0.42	0.44	0.41		0.37	0.31	0.4	0.38	0.35	CNBS
RIET	0.93	0.79	0.31	0.91	0.37		0.89	0.89	0.85	0.89	RIET
EPHE	0.89	0.78	0.26	0.83	0.31	0.89		0.86	0.86	0.86	EPHE
SMDX	0.96	0.89	0.53	0.94	0.4	0.89	0.86		0.94	0.93	SMDX
FEBT	0.96	0.97	0.38	0.95	0.38	0.85	0.86	0.94		0.95	FEBT
STNC	0.98	0.86	0.37	0.94	0.35	0.89	0.86	0.93	0.95		STNC
	ONEO	SEPT	LSAT	BAMV	CNBS	RIET	EPHE	SMDX	FEBT	STNC

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Franklin Income Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Income 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 Income'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
ONEO	0.62	0.07	0.08	0.17	0.49	(0.67)	1.62	(1.37)	3.28
SEPT	0.33	0.00	(0.11)	0.08	0.38	(0.35)	0.74	(0.86)	2.27
LSAT	0.61	0.04	(0.07)	9.19	0.65	(0.67)	1.61	(1.00)	3.68
BAMV	0.60	0.01	(0.01)	0.10	0.58	(0.64)	1.43	(1.30)	3.07
CNBS	4.94	0.24	0.03	0.72	6.75	(5.07)	10.52	(8.43)	80.06
RIET	0.61	0.07	0.02	0.25	0.54	(0.70)	1.43	(1.12)	3.47
EPHE	0.82	0.11	0.04	0.58	0.88	(0.85)	2.04	(1.59)	5.48
SMDX	0.73	0.18	0.11	2.00	0.60	(0.81)	2.11	(1.37)	4.14
FEBT	0.34	0.02	(0.05)	0.13	0.44	(0.33)	0.91	(0.93)	2.30
STNC	0.62	0.10	0.11	0.20	0.51	(0.69)	1.63	(1.11)	3.02

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