Franklin Large Correlations

Etfs . Canada . 
Etf . Franklin Large Cap
FLUS Etf  CAD 50.70  0.06  0.12%   
The current 90-days correlation between Franklin Large Cap and Fidelity Canadian High is 0.61 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Franklin Large moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Franklin Large Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Franklin Large Correlation With Market

Average diversification

The correlation between Franklin Large Cap and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Large Cap and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Franklin Large could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Franklin Large when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Franklin Large - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Franklin Large Cap to buy it.

Moving together with Franklin Etf

  0.99XSP iShares Core SPPairCorr
  1.0ZSP BMO SP 500PairCorr
  1.0VFV Vanguard SP 500PairCorr
  1.0HXS Global X SPPairCorr
  1.0XUS iShares Core SPPairCorr
  1.0ESGY BMO MSCI USAPairCorr
  0.99ZUE BMO SP 500PairCorr
  0.99VSP Vanguard SP 500PairCorr
  0.99ZQQ BMO NASDAQ 100PairCorr
  0.99XQQ iShares NASDAQ 100PairCorr
  0.77HEU BetaPro SP TSXPairCorr
  0.89HURA Global X UraniumPairCorr
  0.78HXE Global X SPTSXPairCorr
  0.79XEG iShares SPTSX CappedPairCorr
  0.97HFU BetaPro SPTSX CappedPairCorr
  0.86ENCC Global X CanadianPairCorr
  0.82ZEO BMO Equal WeightPairCorr
  0.96HXU BetaPro SP TSXPairCorr
  0.94JAPN CI WisdomTree JapanPairCorr
  0.97HSU BetaPro SP 500PairCorr

Related Correlations Analysis

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Franklin Large Constituents Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Large 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 Large'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Franklin Large without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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