Franklin FTSE Correlations

FLAX Etf

USD 23.39 0.04 0.17%

The current 90-days correlation between Franklin FTSE Asia and Franklin FTSE Australia is 0.68 (i.e., Poor diversification). The correlation of Franklin FTSE 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 FTSE Correlation With Market

Modest diversification

The correlation between Franklin FTSE Asia and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin FTSE Asia and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Franklin FTSE Asia. 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

0.82	BBAX	JPMorgan BetaBuilders	Pair Corr
1.0	AAXJ	iShares MSCI All	Pair Corr
0.84	EPP	iShares MSCI Pacific	Pair Corr
0.97	AIA	iShares Asia 50	Pair Corr
0.98	GMF	SPDR SP Emerging	Pair Corr
0.91	DVYA	iShares AsiaPacific	Pair Corr
0.81	FPA	First Trust Asia	Pair Corr
0.91	MINV	Matthews Asia Innovators	Pair Corr
0.99	ADIV	SmartETFs Asia Pacific	Pair Corr
0.65	GLD	SPDR Gold Shares	Pair Corr
0.91	BCD	abrdn Bloomberg All	Pair Corr

Related Correlations Analysis

	FLAU	FLJP	FLJH	FLIN	FLGR
FLAU		0.6	0.17	0.51	0.72	FLAU
FLJP	0.6		-0.12	0.85	0.64	FLJP
FLJH	0.17	-0.12		-0.52	0.01	FLJH
FLIN	0.51	0.85	-0.52		0.66	FLIN
FLGR	0.72	0.64	0.01	0.66		FLGR
	FLAU	FLJP	FLJH	FLIN	FLGR

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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

FLIN	+ 0.85	FLJP
FLGR	+ 0.72	FLAU
FLGR	+ 0.66	FLIN
FLGR	+ 0.64	FLJP
FLJP	+ 0.6	FLAU
FLIN	+ 0.51	FLAU

High negative correlations

FLIN	- 0.52	FLJH
FLJH	- 0.12	FLJP

Franklin FTSE Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin FTSE 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 FTSE'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
FLAU	0.76	(0.03)	(0.10)	0.06	0.92	(0.80)	2.02	(1.49)	5.16
FLJP	0.80	(0.13)	0.00	(0.06)	0.00	0.00	2.00	(1.92)	5.30
FLJH	1.01	(0.09)	(0.06)	0.04	1.40	(1.06)	2.51	(2.05)	7.13
FLIN	0.63	(0.14)	0.00	(0.13)	0.00	0.00	1.19	(1.28)	3.61
FLGR	0.72	(0.05)	(0.14)	(0.03)	0.95	(0.72)	1.64	(1.49)	4.70

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