Franklin Core Correlations

UDIV Etf

USD 46.79 0.17 0.36%

The current 90-days correlation between Franklin Core Dividend and WisdomTree Trust is 0.77 (i.e., Poor diversification). The correlation of Franklin Core 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 Core Correlation With Market

Poor diversification

The correlation between Franklin Core Dividend and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Core Dividend and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Franklin Core Dividend. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Franklin Etf

0.99	VTI	Vanguard Total Stock	Pair Corr
0.99	SPY	SPDR SP 500	Pair Corr
0.99	IVV	iShares Core SP	Pair Corr
0.84	VIG	Vanguard Dividend	Pair Corr
0.99	VV	Vanguard Large Cap	Pair Corr
0.67	RSP	Invesco SP 500	Pair Corr
0.99	IWB	iShares Russell 1000	Pair Corr
1.0	ESGU	iShares ESG Aware	Pair Corr
0.87	DFAC	Dimensional Core Equity	Pair Corr
0.99	SPLG	SPDR Portfolio SP	Pair Corr
0.96	UPRO	ProShares UltraPro SP500	Pair Corr
0.79	QTOC	Innovator ETFs Trust	Pair Corr
0.94	XTOC	Innovator ETFs Trust	Pair Corr
0.7	QTAP	Innovator Growth 100	Pair Corr
0.76	XTAP	Innovator Equity Acc	Pair Corr

Related Correlations Analysis

	WTV	DIVI	DIEM	WLDR	YPS
WTV		0.45	0.12	0.95	0.0	WTV
DIVI	0.45		0.64	0.6	0.0	DIVI
DIEM	0.12	0.64		0.3	0.0	DIEM
WLDR	0.95	0.6	0.3		0.0	WLDR
YPS	0.0	0.0	0.0	0.0		YPS
	WTV	DIVI	DIEM	WLDR	YPS

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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

WLDR	+ 0.95	WTV
DIEM	+ 0.64	DIVI
WLDR	+ 0.6	DIVI
DIVI	+ 0.45	WTV
WLDR	+ 0.3	DIEM
DIEM	+ 0.12	WTV

High negative correlations

YPS	- 0.0	WLDR
YPS	- 0.0	DIEM
YPS	- 0.0	DIVI
YPS	- 0.0	WTV

Franklin Core Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Core 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 Core'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
WTV	0.67	0.09	0.07	0.21	0.59	(0.82)	1.27	(0.86)	6.77
DIVI	0.58	0.01	(0.08)	0.20	0.79	(0.65)	1.34	(1.46)	3.80
DIEM	0.65	(0.03)	0.00	(0.15)	0.00	0.00	1.34	(1.81)	5.07
WLDR	0.71	0.05	0.01	0.17	0.99	(0.68)	1.45	(1.39)	4.67
YPS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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