Franklin California Correlations

Mutual Funds . USA . 
Fund . Franklin California High
FCAQX Fund  USD 9.76  0.02  0.20%   
The current 90-days correlation between Franklin California High and Praxis Impact Bond is 0.63 (i.e., Poor diversification). The correlation of Franklin California 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 California Correlation With Market

Significant diversification

The correlation between Franklin California High and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin California High 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 California High. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Franklin Mutual Fund

  0.63TEBIX Franklin Mutual BeaconPairCorr
  0.64TEGBX Templeton Global BondPairCorr
  0.63TEMEX Franklin Mutual BeaconPairCorr
  0.9FQCTX Franklin Necticut TaxPairCorr
  0.99FQCHX Franklin Templeton SmacsPairCorr
  0.62LGGAX Clearbridge InternationalPairCorr
  0.98FQLAX Franklin Louisiana TaxPairCorr
  0.96FQNCX Franklin North CarolinaPairCorr
  0.95FQMDX Franklin Maryland TaxPairCorr
  0.67WAARX Western Asset TotalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin California Mutual Fund 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 California'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.

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