Franklin California Correlations

Mutual Funds . USA . 
Fund . Franklin California High
FCQAX Fund  USD 9.91  0.01  0.10%   
The current 90-days correlation between Franklin California High and Catholic Responsible Investments is 0.34 (i.e., Weak 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

Average diversification

The correlation between Franklin California High and DJI is 0.12 (i.e., Average 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 nation.

Moving together with Franklin Mutual Fund

  0.8TEBIX Franklin Mutual BeaconPairCorr
  0.81TEDIX Franklin Mutual GlobalPairCorr
  0.81TEDSX Franklin Mutual GlobalPairCorr
  0.81TEDRX Franklin Mutual GlobalPairCorr
  0.85TEGBX Templeton Global BondPairCorr
  0.75TEGRX Templeton GrowthPairCorr
  0.72TEMGX Templeton Global SmallerPairCorr
  0.8TEMEX Franklin Mutual BeaconPairCorr
  0.74TEMTX Franklin Mutual SharesPairCorr
  0.99FQCTX Franklin Necticut TaxPairCorr
  0.75TEPLX Templeton GrowthPairCorr
  0.75TWDAX Templeton WorldPairCorr
  0.75TESIX Franklin Mutual SharesPairCorr
  0.74TESRX Franklin Mutual SharesPairCorr
  0.99FQLAX Franklin Louisiana TaxPairCorr
  0.7TEWTX Templeton WorldPairCorr
  0.76SAPYX Clearbridge AppreciationPairCorr
  0.66SASMX Clearbridge Small CapPairCorr
  0.89WACPX Western Asset EPairCorr
  0.8TFESX International EquityPairCorr
  0.8TFEQX International EquityPairCorr
  0.78WAFAX Western Asset InflationPairCorr
  0.71SBCPX Qs Defensive GrowthPairCorr
  0.72FRBRX Franklin BiotechnologyPairCorr
  0.73FRBSX Franklin Balance SheetPairCorr
  0.69FRDPX Franklin Rising DividendsPairCorr
  0.69FRDTX Franklin Rising DividendsPairCorr
  0.9WAPAX Western Asset EPairCorr
  0.75FREEX Franklin Real EstatePairCorr
  0.71FREIX Franklin Equity IncomePairCorr
  0.69FRCSX Franklin Small CapPairCorr
  0.99FRFTX Franklin Federal TaxPairCorr

Moving against Franklin Mutual Fund

  0.65WAADX Western Asset SmashPairCorr

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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