Franklin LibertyQ Correlations

The current 90-days correlation between Franklin LibertyQ Mid and FT Vest Equity is 0.36 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Franklin LibertyQ moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Franklin LibertyQ Mid moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Franklin LibertyQ Correlation With Market

Very weak diversification

The correlation between Franklin LibertyQ Mid and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin LibertyQ Mid and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Franklin Etf

0.98	VO	Vanguard Mid Cap	Pair Corr
0.97	VXF	Vanguard Extended Market	Pair Corr
0.99	IJH	iShares Core SP	Pair Corr
0.99	IWR	iShares Russell Mid	Pair Corr
0.99	MDY	SPDR SP MIDCAP	Pair Corr
0.99	FV	First Trust Dorsey	Pair Corr
0.99	IVOO	Vanguard SP Mid	Pair Corr
0.99	JHMM	John Hancock Multifactor	Pair Corr
0.98	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.98	XMMO	Invesco SP MidCap	Pair Corr
0.95	ITDD	iShares Trust	Pair Corr
0.68	SITC	Site Centers Corp	Pair Corr
0.93	DIVY	Tidal ETF Trust	Pair Corr
0.71	PALL	abrdn Physical Palladium	Pair Corr
0.98	MFSV	MFS Active Value	Pair Corr
0.63	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.61	AXP	American Express	Pair Corr
0.62	BAC	Bank of America Earnings Call This Week	Pair Corr
0.66	CAT	Caterpillar	Pair Corr
0.66	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.64	MMM	3M Company	Pair Corr
0.68	DIS	Walt Disney	Pair Corr

Moving against Franklin Etf

0.43

Coca Cola

Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	MCDS	DINT	DISV	DIVN	DJAN	MDLV
DHDG		0.97	0.48	0.45	0.53	0.39	-0.25	0.92	0.33	DHDG
MBCC	0.97		0.61	0.59	0.65	0.54	-0.3	0.96	0.5	MBCC
DIHP	0.48	0.61		0.95	0.97	0.98	-0.28	0.61	0.93	DIHP
MCDS	0.45	0.59	0.95		0.98	0.94	-0.28	0.59	0.93	MCDS
DINT	0.53	0.65	0.97	0.98		0.96	-0.31	0.65	0.92	DINT
DISV	0.39	0.54	0.98	0.94	0.96		-0.34	0.56	0.95	DISV
DIVN	-0.25	-0.3	-0.28	-0.28	-0.31	-0.34		-0.33	-0.33	DIVN
DJAN	0.92	0.96	0.61	0.59	0.65	0.56	-0.33		0.5	DJAN
MDLV	0.33	0.5	0.93	0.93	0.92	0.95	-0.33	0.5		MDLV
	DHDG	MBCC	DIHP	MCDS	DINT	DISV	DIVN	DJAN	MDLV

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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

DISV	+ 0.98	DIHP
DINT	+ 0.98	MCDS
MBCC	+ 0.97	DHDG
DINT	+ 0.97	DIHP
DJAN	+ 0.96	MBCC
DISV	+ 0.96	DINT

High negative correlations

DIVN	- 0.34	DISV
MDLV	- 0.33	DIVN
DJAN	- 0.33	DIVN
DIVN	- 0.31	DINT
DIVN	- 0.3	MBCC
DIVN	- 0.28	MCDS

Franklin LibertyQ Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin LibertyQ 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 LibertyQ'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
DHDG	0.32	0.03	(0.07)	0.21	0.40	(0.31)	1.03	(0.96)	5.20
MBCC	0.95	0.06	0.04	0.19	1.43	(0.99)	2.25	(2.04)	11.66
DIHP	0.57	0.23	0.17	1.66	0.00	(0.68)	1.44	(0.97)	3.86
MCDS	0.75	0.21	0.13	0.77	0.57	(0.85)	1.98	(1.27)	5.40
DINT	0.80	0.31	0.25	1.44	0.00	(0.91)	2.36	(0.97)	4.80
DISV	0.57	0.33	0.30	2.92	0.00	(0.77)	1.72	(0.79)	4.08
DIVN	0.47	0.33	0.00	27.50	0.00	0.00	1.67	(0.70)	2.37
DJAN	0.51	0.07	(0.07)	2.94	0.71	(0.53)	1.06	(1.18)	5.11
MDLV	0.52	0.12	0.01	0.76	0.39	(0.54)	1.27	(0.85)	3.44

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