Franklin Exponential Correlations

XDAT Etf

USD 22.06 0.35 1.56%

The current 90-days correlation between Franklin Exponential Data and Direxion Daily CSCO is 0.28 (i.e., Modest diversification). The correlation of Franklin Exponential 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 Exponential Correlation With Market

Excellent diversification

The correlation between Franklin Exponential Data and DJI is -0.52 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Exponential Data and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Franklin Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Franklin Exponential Data. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Franklin Etf

0.62	IYW	iShares Technology ETF	Pair Corr
0.96	CIBR	First Trust NASDAQ	Pair Corr
0.98	IGV	iShares Expanded Tech	Pair Corr
0.95	FDN	First Trust Dow Potential Growth	Pair Corr
0.68	BULZ	MicroSectors Solactive	Pair Corr
0.91	FNGO	MicroSectors FANG Index	Pair Corr
0.84	GBTC	Grayscale Bitcoin Trust	Pair Corr

Moving against Franklin Etf

0.78	RDIV	Invesco SP Ultra	Pair Corr
0.61	SOXX	iShares Semiconductor ETF	Pair Corr
0.59	NUGT	Direxion Daily Gold	Pair Corr
0.57	SMH	VanEck Semiconductor ETF	Pair Corr
0.57	JNUG	Direxion Daily Junior	Pair Corr
0.53	GGLL	Direxion Daily GOOGL	Pair Corr
0.35	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.9	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.9	JNJ	Johnson Johnson	Pair Corr
0.86	CVX	Chevron Corp	Pair Corr
0.83	KO	Coca Cola Earnings Call This Week	Pair Corr
0.76	VZ	Verizon Communications Aggressive Push	Pair Corr
0.75	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.74	DD	Dupont De Nemours	Pair Corr
0.73	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.67	INTC	Intel	Pair Corr
0.64	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.64	MCD	McDonalds Earnings Call Today	Pair Corr
0.62	AHYB	American Century ETF	Pair Corr
0.61	BA	Boeing	Pair Corr
0.54	HD	Home Depot	Pair Corr
0.53	T	ATT Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	TRUD	BMED	FLDZ	KNOW	IGGY	KBUF	PQJL	LGHT	TINY	CSCL
TRUD		0.44	0.58	0.39	0.77	0.52	0.78	0.54	0.46	-0.35	TRUD
BMED	0.44		0.83	0.71	0.24	0.13	0.77	0.16	0.73	0.19	BMED
FLDZ	0.58	0.83		0.84	0.49	0.24	0.85	0.1	0.83	0.24	FLDZ
KNOW	0.39	0.71	0.84		0.32	0.27	0.75	-0.2	0.98	0.41	KNOW
IGGY	0.77	0.24	0.49	0.32		0.71	0.69	0.63	0.41	-0.28	IGGY
KBUF	0.52	0.13	0.24	0.27	0.71		0.41	0.6	0.41	-0.45	KBUF
PQJL	0.78	0.77	0.85	0.75	0.69	0.41		0.24	0.79	0.14	PQJL
LGHT	0.54	0.16	0.1	-0.2	0.63	0.6	0.24		-0.06	-0.74	LGHT
TINY	0.46	0.73	0.83	0.98	0.41	0.41	0.79	-0.06		0.28	TINY
CSCL	-0.35	0.19	0.24	0.41	-0.28	-0.45	0.14	-0.74	0.28		CSCL
	TRUD	BMED	FLDZ	KNOW	IGGY	KBUF	PQJL	LGHT	TINY	CSCL

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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

TINY	+ 0.98	KNOW
PQJL	+ 0.85	FLDZ
KNOW	+ 0.84	FLDZ
FLDZ	+ 0.83	BMED
TINY	+ 0.83	FLDZ
TINY	+ 0.79	PQJL

High negative correlations

CSCL	- 0.74	LGHT
CSCL	- 0.45	KBUF
CSCL	- 0.35	TRUD
CSCL	- 0.28	IGGY
LGHT	- 0.2	KNOW
TINY	- 0.06	LGHT

Franklin Exponential Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Exponential 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 Exponential'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
TRUD	0.91	(0.16)	0.00	(0.10)	0.00	0.00	1.80	(2.50)	4.85
BMED	0.72	0.06	0.05	0.18	0.61	(0.92)	1.99	(1.30)	3.94
FLDZ	0.59	0.01	(0.01)	0.10	0.61	(0.65)	1.43	(1.23)	3.60
KNOW	0.43	0.10	0.10	0.29	0.27	(0.47)	0.97	(0.84)	1.94
IGGY	0.78	(0.11)	0.00	(0.03)	0.00	0.00	1.36	(1.91)	3.87
KBUF	0.54	(0.06)	0.00	(0.07)	0.00	0.00	1.15	(1.11)	4.07
PQJL	0.37	(0.02)	(0.13)	0.04	0.47	(0.40)	0.88	(0.86)	2.42
LGHT	0.81	(0.16)	0.00	(0.09)	0.00	0.00	1.74	(1.73)	5.80
TINY	1.43	0.24	0.18	0.25	1.29	(1.66)	3.73	(2.48)	7.26
CSCL	2.28	0.47	0.18	0.75	2.20	(2.71)	6.15	(4.19)	16.55

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