Franklin Emerging Correlations

Mutual Funds . USA . 
Fund . Franklin Emerging Market
FEMDX Fund  USD 12.15  0.02  0.16%   
The current 90-days correlation between Franklin Emerging Market and Delaware Limited Term Diversified is 0.14 (i.e., Average diversification). The correlation of Franklin Emerging 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 Emerging Correlation With Market

Modest diversification

The correlation between Franklin Emerging Market and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Emerging Market 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 Emerging Market. 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 unemployment.

Moving together with Franklin Mutual Fund

  0.8TEMWX Templeton WorldPairCorr
  0.79TEMTX Franklin Mutual SharesPairCorr
  0.82SAIFX Clearbridge Large CapPairCorr
  0.89SAGYX Clearbridge AggressivePairCorr
  0.62TEQIX Franklin Mutual QuestPairCorr
  0.8TWDAX Templeton WorldPairCorr
  0.79TESIX Franklin Mutual SharesPairCorr
  0.79TESRX Franklin Mutual SharesPairCorr
  0.79TEWTX Templeton WorldPairCorr
  0.85SAPYX Clearbridge AppreciationPairCorr
  0.81SASMX Clearbridge Small CapPairCorr
  0.83WAADX Western Asset SmashPairCorr

Moving against Franklin Mutual Fund

  0.59TEGBX Templeton Global BondPairCorr
  0.41TEURX Franklin Mutual EuropeanPairCorr
  0.39TEMIX Franklin Mutual EuropeanPairCorr
  0.35LGGAX Clearbridge InternationalPairCorr
  0.61WABAX Western Asset EPairCorr
  0.58WACPX Western Asset EPairCorr
  0.46LGIEX Qs International EquityPairCorr
  0.46WAFAX Western Asset InflationPairCorr
  0.45WAIIX Western Asset InflationPairCorr
  0.4SBIYX Clearbridge InternationalPairCorr

Related Correlations Analysis

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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   
OIDAX
+ 0.95
HIIDX
OIDAX
+ 0.8
QDARX
QDARX
+ 0.75
HIIDX
OIDAX
+ 0.73
XWDIX
XWDIX
+ 0.72
DTICX
XWDIX
+ 0.63
HIIDX
  
High negative correlations   
SIGWX
- 0.56
XWDIX
OIDAX
- 0.53
SIGWX
SIGWX
- 0.46
QDARX
SIGWX
- 0.32
HIIDX
SIGWX
- 0.28
DTICX

Risk-Adjusted Indicators

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