Franklin Equity Correlations

FISEX Fund

USD 36.01 0.09 0.25%

The current 90-days correlation between Franklin Equity Income and Franklin Growth Fund is 0.7 (i.e., Poor diversification). The correlation of Franklin Equity 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 Equity Correlation With Market

Almost no diversification

The correlation between Franklin Equity Income and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Equity Income 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 Equity Income. 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 income.

Moving together with Franklin Mutual Fund

0.71	TEBIX	Franklin Mutual Beacon	Pair Corr
0.68	TEMEX	Franklin Mutual Beacon	Pair Corr
0.93	TEMTX	Franklin Mutual Shares	Pair Corr
0.68	TEMQX	Mutual Quest	Pair Corr
0.94	SAIFX	Clearbridge Large Cap	Pair Corr
0.98	SAGYX	Clearbridge Aggressive	Pair Corr
0.71	TEQIX	Franklin Mutual Quest	Pair Corr
0.94	TESRX	Franklin Mutual Shares	Pair Corr
0.86	TEWTX	Templeton World	Pair Corr
0.98	SAPYX	Clearbridge Appreciation	Pair Corr
0.91	SASMX	Clearbridge Small Cap	Pair Corr
0.8	WAADX	Western Asset Smash	Pair Corr
0.78	FQTEX	Franklin Strategic Series	Pair Corr
0.99	LGVAX	Clearbridge Value Trust	Pair Corr
0.92	SBBAX	Qs Servative Growth	Pair Corr
0.71	WAHYX	Western Asset High	Pair Corr

Moving against Franklin Mutual Fund

0.75	TEGBX	Templeton Global Bond	Pair Corr
0.57	LGIEX	Qs International Equity	Pair Corr
0.51	TEMIX	Franklin Mutual European	Pair Corr
0.47	LGGAX	Clearbridge International	Pair Corr
0.46	TEMMX	Templeton Emerging	Pair Corr
0.45	TEMZX	Templeton Emerging	Pair Corr
0.42	TEFTX	Templeton Foreign	Pair Corr
0.41	TEFRX	Templeton Foreign	Pair Corr
0.41	TEMFX	Templeton Foreign	Pair Corr
0.76	WABAX	Western Asset E	Pair Corr
0.76	WATFX	Western Asset E	Pair Corr
0.73	WACPX	Western Asset E	Pair Corr
0.73	WAPAX	Western Asset E	Pair Corr
0.64	WAFAX	Western Asset Inflation	Pair Corr
0.63	WAIIX	Western Asset Inflation	Pair Corr
0.41	TFEQX	International Equity	Pair Corr
0.41	TFFAX	Templeton Foreign	Pair Corr
0.36	FRCTX	Franklin California Tax	Pair Corr

Related Correlations Analysis

	FKGRX	FKBAX	FRDPX	TESIX	FRSTX
FKGRX		-0.67	0.95	0.86	-0.51	FKGRX
FKBAX	-0.67		-0.51	-0.62	0.96	FKBAX
FRDPX	0.95	-0.51		0.87	-0.35	FRDPX
TESIX	0.86	-0.62	0.87		-0.56	TESIX
FRSTX	-0.51	0.96	-0.35	-0.56		FRSTX
	FKGRX	FKBAX	FRDPX	TESIX	FRSTX

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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

FRSTX	+ 0.96	FKBAX
FRDPX	+ 0.95	FKGRX
TESIX	+ 0.87	FRDPX
TESIX	+ 0.86	FKGRX

High negative correlations

FKBAX	- 0.67	FKGRX
TESIX	- 0.62	FKBAX
FRSTX	- 0.56	TESIX
FRDPX	- 0.51	FKBAX
FRSTX	- 0.51	FKGRX
FRSTX	- 0.35	FRDPX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Equity 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 Equity'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FKGRX	0.61	(0.04)	(0.05)	0.08	0.85	(0.60)	1.39	(1.49)	4.23
FKBAX	0.22	(0.01)	0.00	0.27	0.00	0.00	0.47	(0.60)	1.33
FRDPX	0.51	(0.02)	(0.09)	0.10	0.50	(0.58)	0.99	(0.97)	3.17
TESIX	0.51	(0.01)	(0.05)	0.12	0.38	(0.60)	0.96	(0.90)	4.05
FRSTX	0.16	0.00	(0.46)	0.27	0.21	(0.20)	0.36	(0.36)	1.20

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