Franklin Growth Correlations

FIFRX Fund

USD 136.77 1.43 1.03%

The current 90-days correlation between Franklin Growth and Franklin Mutual Global is 0.82 (i.e., Very poor diversification). The correlation of Franklin Growth 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 Growth Correlation With Market

Significant diversification

The correlation between Franklin Growth Fund and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Growth Fund 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 Growth Fund. 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 metropolitan statistical area.

Moving together with Franklin Mutual Fund

0.9	TEBIX	Franklin Mutual Beacon	Pair Corr
0.79	TEDIX	Franklin Mutual Global	Pair Corr
0.76	TEDSX	Franklin Mutual Global	Pair Corr
0.79	TEDRX	Franklin Mutual Global	Pair Corr
0.69	TEGRX	Templeton Growth	Pair Corr
0.69	TEMGX	Templeton Global Smaller	Pair Corr
0.89	TEMEX	Franklin Mutual Beacon	Pair Corr
0.95	TEMWX	Templeton World	Pair Corr
0.9	TEMTX	Franklin Mutual Shares	Pair Corr
0.86	TEMQX	Mutual Quest	Pair Corr
0.92	SAIFX	Clearbridge Large Cap	Pair Corr
0.74	SAGYX	Clearbridge Aggressive	Pair Corr
0.88	TEQIX	Franklin Mutual Quest	Pair Corr
0.69	TEPLX	Templeton Growth	Pair Corr
0.95	TWDAX	Templeton World	Pair Corr
0.91	TESIX	Franklin Mutual Shares	Pair Corr
0.66	TESGX	Templeton Global Smaller	Pair Corr
0.91	TESRX	Franklin Mutual Shares	Pair Corr
0.95	TEWTX	Templeton World	Pair Corr
0.72	SAPYX	Clearbridge Appreciation	Pair Corr
0.75	SASMX	Clearbridge Small Cap	Pair Corr

Related Correlations Analysis

	TEDIX	BXFIX	CNGLX	DHGCX	MGGNX	CBSYX	CABIX	JGECX
TEDIX		-0.34	0.78	0.3	0.61	0.8	0.8	0.93	TEDIX
BXFIX	-0.34		0.0	0.13	0.31	-0.49	-0.49	-0.21	BXFIX
CNGLX	0.78	0.0		0.51	0.69	0.72	0.72	0.75	CNGLX
DHGCX	0.3	0.13	0.51		0.72	0.2	0.2	0.29	DHGCX
MGGNX	0.61	0.31	0.69	0.72		0.36	0.36	0.73	MGGNX
CBSYX	0.8	-0.49	0.72	0.2	0.36		1.0	0.72	CBSYX
CABIX	0.8	-0.49	0.72	0.2	0.36	1.0		0.72	CABIX
JGECX	0.93	-0.21	0.75	0.29	0.73	0.72	0.72		JGECX
	TEDIX	BXFIX	CNGLX	DHGCX	MGGNX	CBSYX	CABIX	JGECX

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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

CABIX	+ 1.0	CBSYX
JGECX	+ 0.93	TEDIX
CBSYX	+ 0.8	TEDIX
CABIX	+ 0.8	TEDIX
CNGLX	+ 0.78	TEDIX
JGECX	+ 0.75	CNGLX

High negative correlations

CABIX	- 0.49	BXFIX
CBSYX	- 0.49	BXFIX
BXFIX	- 0.34	TEDIX
JGECX	- 0.21	BXFIX
CNGLX	- 0.0	BXFIX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Growth 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 Growth'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TEDIX	0.62	(0.20)	0.00	(8.93)	0.00	0.85	(1.05)	10.42
BXFIX	0.08	0.02	(0.04)	(3.33)	(0.22)	0.12	(0.12)	0.93
CNGLX	0.56	(0.08)	0.00	(0.61)	0.00	1.03	(1.18)	5.09
DHGCX	0.15	(0.03)	0.00	(0.87)	0.00	0.31	(0.35)	0.96
MGGNX	0.21	(0.05)	0.00	1.19	0.00	0.34	(0.34)	3.06
CBSYX	0.60	(0.26)	0.00	(1.52)	0.00	0.56	(0.78)	15.50
CABIX	0.60	(0.26)	0.00	(1.54)	0.00	0.56	(0.73)	15.70
JGECX	0.59	(0.22)	0.00	1.76	0.00	0.89	(0.88)	11.44

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