Franklin Universal Correlations

FT Etf

USD 8.11 0.01 0.12%

The current 90-days correlation between Franklin Universal Closed and BlackRock Energy and is -0.11 (i.e., Good diversification). The correlation of Franklin Universal 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 Universal Correlation With Market

Average diversification

The correlation between Franklin Universal Closed and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Universal Closed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Franklin Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Franklin Universal Closed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Franklin Etf

0.66	VELO	Velo3D, Tech Boost	Pair Corr
0.7	VINP	Vinci Partners Inves	Pair Corr
0.74	SII	Sprott Inc	Pair Corr
0.72	LBS	Life Banc Split Split	Pair Corr

Moving against Franklin Etf

0.67	PX	P10 Inc	Pair Corr
0.67	JLEN	JLEN Environmental Assets	Pair Corr
0.64	CG	Carlyle Group Normal Trading	Pair Corr
0.62	BX	Blackstone Group Normal Trading	Pair Corr
0.57	VCTR	Victory Capital Holdings	Pair Corr
0.53	WT	WisdomTree	Pair Corr
0.5	DHIL	Diamond Hill Investment	Pair Corr
0.69	CSOC-A	Canso Select Opportu	Pair Corr
0.65	GCMGW	GCM Grosvenor	Pair Corr
0.51	VRTS	Virtus Investment	Pair Corr
0.32	TIP	Teaminvest Private	Pair Corr
0.55	FDUS	Fidus Investment Corp	Pair Corr
0.49	FBRT	Franklin BSP Realty	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.54	0.62	-0.76	0.71	-0.75	0.43	-0.14	-0.69	-0.68	META
MSFT	0.54		0.78	-0.17	-0.04	-0.2	0.64	0.14	-0.57	-0.31	MSFT
UBER	0.62	0.78		-0.41	0.29	-0.57	0.53	0.33	-0.78	-0.41	UBER
F	-0.76	-0.17	-0.41		-0.74	0.8	-0.16	0.24	0.66	0.74	F
T	0.71	-0.04	0.29	-0.74		-0.88	0.01	-0.11	-0.5	-0.5	T
A	-0.75	-0.2	-0.57	0.8	-0.88		-0.19	0.01	0.77	0.54	A
CRM	0.43	0.64	0.53	-0.16	0.01	-0.19		-0.12	-0.56	-0.37	CRM
JPM	-0.14	0.14	0.33	0.24	-0.11	0.01	-0.12		-0.08	0.29	JPM
MRK	-0.69	-0.57	-0.78	0.66	-0.5	0.77	-0.56	-0.08		0.55	MRK
XOM	-0.68	-0.31	-0.41	0.74	-0.5	0.54	-0.37	0.29	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

A	+ 0.8	F
UBER	+ 0.78	MSFT
MRK	+ 0.77	A
XOM	+ 0.74	F
T	+ 0.71	META
MRK	+ 0.66	F

High negative correlations

A	- 0.88	T
MRK	- 0.78	UBER
F	- 0.76	META
A	- 0.75	META
T	- 0.74	F
MRK	- 0.69	META

Franklin Universal Competition Risk-Adjusted Indicators

There is a big difference between Franklin Etf performing well and Franklin Universal 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 Universal'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
META	1.32	(0.27)	0.00	(0.20)	0.00	0.00	2.18	(2.72)	13.52
MSFT	0.92	(0.14)	0.00	(0.12)	0.00	0.00	1.85	(2.50)	5.08
UBER	1.49	(0.11)	0.00	(0.02)	0.00	0.00	3.55	(3.30)	10.91
F	1.48	0.17	0.06	1.37	1.65	(1.71)	3.38	(2.35)	16.30
T	0.98	(0.23)	0.00	(0.49)	0.00	0.00	1.84	(2.32)	6.25
A	1.27	0.19	0.14	0.24	1.19	(1.38)	2.60	(2.21)	11.03
CRM	1.63	(0.16)	0.00	(0.07)	0.00	0.00	3.22	(3.61)	9.91
JPM	0.94	(0.02)	(0.01)	0.06	1.29	(0.91)	1.69	(1.91)	5.76
MRK	1.37	0.23	0.16	0.37	1.12	(1.79)	4.84	(2.60)	11.45
XOM	0.96	0.04	(0.02)	0.30	1.14	(0.92)	1.78	(1.93)	4.63

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