Franklin Templeton Correlations

INCM Etf

USD 26.55 0.10 0.38%

The current 90-days correlation between Franklin Templeton ETF and Tidal Trust II is 0.64 (i.e., Poor diversification). 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.

Franklin Templeton Correlation With Market

Weak diversification

The correlation between Franklin Templeton ETF and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Templeton ETF and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis 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 closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Franklin Etf

0.8	AOM	iShares Core Moderate	Pair Corr
0.85	HNDL	Strategy Shares Nasdaq	Pair Corr
0.9	RPAR	RPAR Risk Parity	Pair Corr
0.83	AOK	iShares Core Conservative	Pair Corr
0.95	TWIO	Spinnaker ETF Series	Pair Corr
0.85	EAOK	iShares ESG Aware	Pair Corr
0.82	EAOM	iShares ESG Aware	Pair Corr

Moving against Franklin Etf

0.56	DSJA	DSJA	Pair Corr
0.56	XDJA	Innovator ETFs Trust	Pair Corr
0.55	TSJA	TSJA	Pair Corr
0.4	QTJA	Innovator ETFs Trust	Pair Corr
0.39	XTJA	Innovator ETFs Trust	Pair Corr
0.31	QTAP	Innovator Growth 100	Pair Corr
0.64	XONE	Bondbloxx Bloomberg One	Pair Corr
0.57	QYLD	Global X NASDAQ	Pair Corr
0.56	YEAR	AB Ultra Short	Pair Corr
0.42	YMAG	YieldMax Magnificent	Pair Corr
0.63	ICSH	iShares Ultra Short	Pair Corr
0.58	JAAA	Janus Detroit Street	Pair Corr
0.53	FNGS	MicroSectors FANG ETN	Pair Corr
0.5	XDEC	First Trust Exchange	Pair Corr
0.48	HAPR	Innovator Premium Income	Pair Corr
0.48	BNO	United States Brent	Pair Corr

Related Correlations Analysis

	HF	DRAI	VIXM	VIXY	FAAR	FARX	WTMF	ARB	ARP
HF		0.73	-0.17	0.18	-0.76	0.2	-0.09	-0.18	0.27	HF
DRAI	0.73		-0.16	-0.06	-0.34	0.16	0.15	-0.18	0.73	DRAI
VIXM	-0.17	-0.16		0.86	0.14	-0.08	-0.55	0.06	-0.33	VIXM
VIXY	0.18	-0.06	0.86		-0.26	-0.01	-0.73	0.03	-0.38	VIXY
FAAR	-0.76	-0.34	0.14	-0.26		-0.07	0.3	0.35	0.14	FAAR
FARX	0.2	0.16	-0.08	-0.01	-0.07		0.0	0.32	0.1	FARX
WTMF	-0.09	0.15	-0.55	-0.73	0.3	0.0		-0.08	0.42	WTMF
ARB	-0.18	-0.18	0.06	0.03	0.35	0.32	-0.08		0.01	ARB
ARP	0.27	0.73	-0.33	-0.38	0.14	0.1	0.42	0.01		ARP
	HF	DRAI	VIXM	VIXY	FAAR	FARX	WTMF	ARB	ARP

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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

VIXY	+ 0.86	VIXM
DRAI	+ 0.73	HF
ARP	+ 0.73	DRAI
ARP	+ 0.42	WTMF
ARB	+ 0.35	FAAR
ARB	+ 0.32	FARX

High negative correlations

FAAR	- 0.76	HF
WTMF	- 0.73	VIXY
WTMF	- 0.55	VIXM
ARP	- 0.38	VIXY
FAAR	- 0.34	DRAI
ARP	- 0.33	VIXM

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HF	0.43	(0.21)	0.00	(2.74)	0.00	0.00	0.34	(0.73)	11.10
DRAI	0.69	(0.08)	0.00	(0.74)	0.00	0.00	1.27	(1.88)	6.91
VIXM	1.41	(0.03)	0.00	0.07	0.00	0.00	3.54	(2.66)	12.85
VIXY	3.02	(0.15)	0.00	0.14	0.00	0.00	6.97	(6.32)	31.90
FAAR	0.46	0.04	0.04	1.46	0.49	(0.49)	0.79	(0.94)	2.91
FARX	0.17	0.08	0.00	13.38	0.00	0.00	0.47	(0.44)	0.68
WTMF	0.60	0.05	0.03	0.31	0.76	(0.65)	1.16	(0.91)	7.95
ARB	0.17	0.01	(0.05)	0.22	0.21	(0.19)	0.36	(0.33)	1.30
ARP	0.38	0.00	(0.03)	0.00	0.56	(0.37)	0.70	(0.80)	2.90

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