Franklin Multisector Correlations

MULT Etf

USD 25.30 0.01 0.04%

The current 90-days correlation between Franklin Multisector and Virtus ETF Trust is 0.2 (i.e., Modest diversification). The correlation of Franklin Multisector 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Franklin Multisector Correlation With Market

Modest diversification

The correlation between Franklin Multisector Income and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Multisector Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Franklin Etf

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

Moving together with Franklin Etf

0.61	AXSAX	Axonic Strategic Income	Pair Corr
0.68	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.66	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.69	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.7	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.93	JPIE	JP Morgan Exchange	Pair Corr
0.88	AFIF	Anfield Universal Fixed	Pair Corr
0.91	MUSI	American Century Mul	Pair Corr
0.86	SIO	Touchstone Strategic	Pair Corr
0.64	OIH	VanEck Oil Services	Pair Corr
0.86	WTMF	WisdomTree Managed	Pair Corr
0.85	EWC	iShares MSCI Canada	Pair Corr
0.72	TOT	Advisor Managed Port	Pair Corr
0.89	ZJAN	Innovator Equity Defined	Pair Corr
0.67	SCJ	iShares MSCI Japan	Pair Corr
0.66	FSMD	Fidelity Small Mid	Pair Corr
0.64	JADE	JP Morgan Exchange	Pair Corr
0.66	QQJG	Invesco ESG NASDAQ	Pair Corr
0.9	PBJA	PGIM Rock ETF	Pair Corr
0.73	SIXS	6 Meridian Small	Pair Corr
0.86	DFAX	Dimensional World	Pair Corr
0.92	MYCI	SPDR SSGA My2029	Pair Corr
0.77	ITDJ	iShares Trust	Pair Corr
0.63	AGEM	abrdn Emerging Markets	Pair Corr
0.75	VOO	Vanguard SP 500	Pair Corr
0.87	CPER	United States Copper Buyout Trend	Pair Corr
0.81	CLOX	Series Portfolios Trust	Pair Corr
0.7	BATT	Amplify Lithium Battery	Pair Corr
0.93	CPSU	Calamos SP 500	Pair Corr
0.85	CSD	Invesco SP Spin	Pair Corr

Moving against Franklin Etf

0.53

ARKW

ARK Next Generation

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.53	-0.61	0.51	-0.55	0.22	-0.16	-0.53	-0.6	META
MSFT	0.66		0.83	-0.52	0.37	-0.19	0.05	-0.34	-0.77	-0.61	MSFT
UBER	0.53	0.83		-0.61	0.56	-0.23	-0.18	-0.32	-0.85	-0.6	UBER
F	-0.61	-0.52	-0.61		-0.69	0.49	0.32	0.44	0.68	0.75	F
T	0.51	0.37	0.56	-0.69		-0.45	-0.53	-0.26	-0.51	-0.48	T
A	-0.55	-0.19	-0.23	0.49	-0.45		-0.2	-0.27	0.4	0.19	A
CRM	0.22	0.05	-0.18	0.32	-0.53	-0.2		0.41	0.11	0.2	CRM
JPM	-0.16	-0.34	-0.32	0.44	-0.26	-0.27	0.41		0.38	0.44	JPM
MRK	-0.53	-0.77	-0.85	0.68	-0.51	0.4	0.11	0.38		0.66	MRK
XOM	-0.6	-0.61	-0.6	0.75	-0.48	0.19	0.2	0.44	0.66		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.68	F
MSFT	+ 0.66	META
XOM	+ 0.66	MRK
T	+ 0.56	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.69	F
F	- 0.61	UBER
XOM	- 0.61	MSFT
F	- 0.61	META

Franklin Multisector Competition Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Multisector 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 Multisector'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
META	1.38	(0.27)	0.00	(0.20)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.68	(1.65)	3.38	(2.63)	16.30
T	0.95	(0.22)	0.00	(0.71)	0.00	0.00	1.61	(2.18)	5.75
A	1.23	0.08	0.06	0.15	1.26	(1.33)	2.34	(2.21)	11.03
CRM	1.54	0.05	0.03	0.13	1.98	(1.51)	3.66	(2.92)	9.91
JPM	1.05	(0.02)	0.00	0.06	1.39	(1.07)	2.00	(1.91)	7.02
MRK	1.44	0.40	0.28	0.54	1.07	(1.80)	4.85	(2.06)	11.45
XOM	0.94	0.05	(0.01)	0.28	0.98	(1.01)	1.96	(1.51)	4.99

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