Franklin Templeton Correlations

IQM Etf  USD 74.52  0.78  1.04%   
The current 90-days correlation between Franklin Templeton ETF and Strategy Shares is -0.42 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Franklin Templeton moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Franklin Templeton ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Franklin Templeton Correlation With Market

Very weak diversification

The correlation between Franklin Templeton ETF and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Templeton ETF and DJI in the same portfolio, assuming nothing else is changed.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Franklin Templeton ETF. 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

  0.64VGT Vanguard InformationPairCorr
  0.64XLK Technology Select SectorPairCorr
  0.64IYW iShares Technology ETFPairCorr
  0.67SMH VanEck Semiconductor ETFPairCorr
  0.67SOXX iShares Semiconductor ETFPairCorr
  0.63CIBR First Trust NASDAQPairCorr
  0.69FTEC Fidelity MSCI InformationPairCorr
  0.66FDN First Trust DowPairCorr
  0.64IGM iShares Expanded TechPairCorr
  0.66SWP SWP Growth IncomePairCorr
  0.82DUKH Ocean Park HighPairCorr
  0.61WINN Harbor Long TermPairCorr
  0.66BAC Bank of America Earnings Call This WeekPairCorr
  0.61DD Dupont De NemoursPairCorr
  0.62GE GE AerospacePairCorr
  0.71PFE Pfizer Inc Aggressive PushPairCorr
  0.71DIS Walt DisneyPairCorr
  0.67CVX Chevron CorpPairCorr
  0.67IBM International BusinessPairCorr

Moving against Franklin Etf

  0.66HUM Humana IncPairCorr
  0.36FNGD MicroSectors FANG IndexPairCorr
  0.47MCD McDonaldsPairCorr
  0.43KO Coca ColaPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
DIVGMBOX
DIVBMBOX
DIVDDIVB
DIVGDIVB
DIVDMBOX
DIVBDISO
  
High negative correlations   
DISODIPS
DIPSDIEM
DIPSDHSB
DIVBDIPS
DIVDDIPS
DIPSMBOX

Franklin Templeton Constituents Risk-Adjusted Indicators

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