Franklin New Correlations

Mutual Funds . USA . 
Fund . Franklin New York
FKNCX Fund  USD 10.74  0.01  0.09%   
The current 90-days correlation between Franklin New York and Deutsche Health And is 0.29 (i.e., Modest diversification). The correlation of Franklin New 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 New Correlation With Market

Average diversification

The correlation between Franklin New York and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin New York 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 New York. 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 main economic indicators.

Moving together with Franklin Mutual Fund

  0.73TEBIX Franklin Mutual BeaconPairCorr
  0.62TEDMX Templeton DevelopingPairCorr
  0.64TEDIX Franklin Mutual GlobalPairCorr
  0.64TEDSX Franklin Mutual GlobalPairCorr
  0.64TEDRX Franklin Mutual GlobalPairCorr
  0.61TEFRX Templeton ForeignPairCorr
  0.61TEFTX Templeton ForeignPairCorr
  0.72TEGBX Templeton Global BondPairCorr
  0.61TEMFX Templeton ForeignPairCorr
  0.73TEMEX Franklin Mutual BeaconPairCorr
  0.64TEMIX Franklin Mutual EuropeanPairCorr
  0.68TEMQX Mutual QuestPairCorr
  0.95FQCTX Franklin Necticut TaxPairCorr
  0.98FQCHX Franklin Templeton SmacsPairCorr
  0.67TEQIX Franklin Mutual QuestPairCorr
  0.7LGGAX Clearbridge InternationalPairCorr
  0.64TEURX Franklin Mutual EuropeanPairCorr
  0.68LGIEX Qs International EquityPairCorr
  0.96FQLAX Franklin Louisiana TaxPairCorr
  0.97FQNCX Franklin North CarolinaPairCorr
  0.94FQMDX Franklin Maryland TaxPairCorr
  0.72WAARX Western Asset TotalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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