Franklin Multisector Correlations

MULT Etf

USD 25.30 0.06 0.24%

The current 90-days correlation between Franklin Multisector and Virtus ETF Trust is 0.31 (i.e., Weak 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 0.2 (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 industry.

Moving together with Franklin Etf

0.65	AXSIX	Axonic Strategic Income	Pair Corr
0.69	AXSAX	Axonic Strategic Income	Pair Corr
0.73	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.71	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.72	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.74	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.95	JPIE	JP Morgan Exchange Sell-off Trend	Pair Corr
0.92	AFIF	Anfield Universal Fixed	Pair Corr
0.93	MUSI	American Century Mul	Pair Corr
0.89	SIO	Touchstone Strategic	Pair Corr
0.71	OIH	VanEck Oil Services	Pair Corr
0.77	WTMF	WisdomTree Managed	Pair Corr
0.75	EWC	iShares MSCI Canada	Pair Corr
0.71	TOT	Advisor Managed Port	Pair Corr
0.86	IAUM	iShares Gold Trust	Pair Corr
0.92	SKOR	FlexShares Credit	Pair Corr
0.78	JEPI	JPMorgan Equity Premium	Pair Corr
0.74	USHY	iShares Broad USD Sell-off Trend	Pair Corr
0.75	EFA	iShares MSCI EAFE	Pair Corr
0.93	DYLG	Global X Funds	Pair Corr
0.87	FALN	iShares Fallen Angels	Pair Corr
0.89	GQI	Natixis ETF Trust	Pair Corr
0.91	DXUV	Dimensional ETF Trust	Pair Corr
0.94	FUSI	American Century ETF	Pair Corr
0.62	SMH	VanEck Semiconductor ETF	Pair Corr
0.68	VV	Vanguard Large Cap	Pair Corr
0.8	GAPR	First Trust Exchange	Pair Corr
0.77	BSMZ	Invesco BulletShares 2035	Pair Corr
0.88	PQJL	PGIM Nasdaq 100	Pair Corr
0.75	DDX	Defined Duration Symbol Change	Pair Corr
0.7	PBDC	Putnam ETF Trust	Pair Corr
0.65	ESN	Essential 40 Stock	Pair Corr
0.62	PAPI	Morgan Stanley ETF	Pair Corr
0.84	KFEB	Innovator Small Cap	Pair Corr

Moving against Franklin Etf

0.42

ARKW

ARK Next Generation

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.61	0.31	-0.37	0.24	-0.18	0.47	-0.15	-0.35	-0.43	META
MSFT	0.61		0.8	-0.54	0.5	0.13	0.2	-0.4	-0.84	-0.72	MSFT
UBER	0.31	0.8		-0.47	0.43	0.37	-0.09	-0.47	-0.81	-0.53	UBER
F	-0.37	-0.54	-0.47		-0.69	0.03	0.21	0.66	0.7	0.69	F
T	0.24	0.5	0.43	-0.69		0.4	-0.36	-0.55	-0.51	-0.65	T
A	-0.18	0.13	0.37	0.03	0.4		-0.44	-0.25	-0.13	-0.19	A
CRM	0.47	0.2	-0.09	0.21	-0.36	-0.44		0.52	0.05	-0.09	CRM
JPM	-0.15	-0.4	-0.47	0.66	-0.55	-0.25	0.52		0.6	0.44	JPM
MRK	-0.35	-0.84	-0.81	0.7	-0.51	-0.13	0.05	0.6		0.78	MRK
XOM	-0.43	-0.72	-0.53	0.69	-0.65	-0.19	-0.09	0.44	0.78		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	+ 0.8	MSFT
XOM	+ 0.78	MRK
MRK	+ 0.7	F
XOM	+ 0.69	F
JPM	+ 0.66	F
MSFT	+ 0.61	META

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.81	UBER
XOM	- 0.72	MSFT
T	- 0.69	F
XOM	- 0.65	T
JPM	- 0.55	T

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	1.34	(0.31)	0.00	(0.25)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.96	(0.21)	0.00	(0.41)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.47	(0.23)	0.00	(0.20)	0.00	0.00	2.60	(3.82)	10.23
F	1.44	0.12	0.10	0.15	1.33	(1.75)	3.38	(2.35)	16.30
T	0.89	(0.17)	0.00	(0.46)	0.00	0.00	1.53	(1.85)	4.30
A	1.16	(0.12)	0.00	(0.03)	0.00	0.00	2.34	(2.24)	7.85
CRM	1.59	(0.16)	0.00	(0.08)	0.00	0.00	3.66	(3.10)	12.37
JPM	1.16	(0.10)	(0.04)	0.00	1.73	(1.13)	2.00	(3.11)	7.38
MRK	1.22	0.37	0.27	0.53	1.01	(1.52)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.15	4.24	0.98	(1.21)	2.37	(1.51)	5.82

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