Franklin High Correlations

FHYIX Fund  USD 9.23  0.02  0.22%   
The current 90-days correlation between Franklin High Yield and Wmcanx is -0.01 (i.e., Good diversification). The correlation of Franklin High 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 High Correlation With Market

Average diversification

The correlation between Franklin High Yield and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin High Yield 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 High Yield. 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 gross domestic product.

Moving together with Franklin Mutual Fund

  0.86TEBIX Franklin Mutual BeaconPairCorr
  0.64TEDMX Templeton DevelopingPairCorr
  0.83TEDIX Franklin Mutual GlobalPairCorr
  0.83TEDSX Franklin Mutual GlobalPairCorr
  0.83TEDRX Franklin Mutual GlobalPairCorr
  0.64TEFRX Templeton ForeignPairCorr
  0.65TEFTX Templeton ForeignPairCorr
  0.91TEGBX Templeton Global BondPairCorr
  0.77TEGRX Templeton GrowthPairCorr
  0.64TEMFX Templeton ForeignPairCorr
  0.62TEMGX Templeton Global SmallerPairCorr
  0.86TEMEX Franklin Mutual BeaconPairCorr
  0.66TEMWX Templeton WorldPairCorr
  0.74TEMTX Franklin Mutual SharesPairCorr
  0.61TEMQX Mutual QuestPairCorr
  0.97FQCTX Franklin Necticut TaxPairCorr
  0.67SAIFX Clearbridge Large CapPairCorr
  0.72SAGYX Clearbridge AggressivePairCorr
  0.85FQCHX Franklin Templeton SmacsPairCorr
  0.77TEPLX Templeton GrowthPairCorr
  0.66TWDAX Templeton WorldPairCorr
  0.75TESIX Franklin Mutual SharesPairCorr
  0.67TESGX Templeton Global SmallerPairCorr
  0.75TESRX Franklin Mutual SharesPairCorr
  0.82LGIEX Qs International EquityPairCorr
  0.98FQLAX Franklin Louisiana TaxPairCorr
  0.66TEWTX Templeton WorldPairCorr
  0.71SAPYX Clearbridge AppreciationPairCorr
  0.93FQNCX Franklin North CarolinaPairCorr
  0.89FQMDX Franklin Maryland TaxPairCorr

Moving against Franklin Mutual Fund

  0.57WAADX Western Asset SmashPairCorr

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   
FLAKQXWMCANX
FFCDAXFSULTX
FKHEMXWMCANX
IAADXWMCANX
IAADXFLAKQX
FFCDAXFWNHTX
  
High negative correlations   
FKHEMXFSULTX

Risk-Adjusted Indicators

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