Franklin New Correlations

Mutual Funds . USA . 
Fund . Franklin New York
FKNQX Fund  USD 10.70  0.01  0.09%   
The current 90-days correlation between Franklin New York and Saat Moderate Strategy is 0.37 (i.e., Weak 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 0.1 (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 producer price index.

Moving together with Franklin Mutual Fund

  0.75TEBIX Franklin Mutual BeaconPairCorr
  0.65TEDMX Templeton DevelopingPairCorr
  0.66TEDIX Franklin Mutual GlobalPairCorr
  0.66TEDSX Franklin Mutual GlobalPairCorr
  0.65TEDRX Franklin Mutual GlobalPairCorr
  0.65TEFRX Templeton ForeignPairCorr
  0.65TEFTX Templeton ForeignPairCorr
  0.75TEGBX Templeton Global BondPairCorr
  0.65TEMFX Templeton ForeignPairCorr
  0.74TEMEX Franklin Mutual BeaconPairCorr
  0.68TEMIX Franklin Mutual EuropeanPairCorr
  0.7TEMQX Mutual QuestPairCorr
  0.93FQCTX Franklin Necticut TaxPairCorr
  0.97FQCHX Franklin Templeton SmacsPairCorr
  0.7TEQIX Franklin Mutual QuestPairCorr
  0.73LGGAX Clearbridge InternationalPairCorr
  0.68TEURX Franklin Mutual EuropeanPairCorr
  0.71LGIEX Qs International EquityPairCorr
  0.95FQLAX Franklin Louisiana TaxPairCorr
  0.96FQNCX Franklin North CarolinaPairCorr
  0.92FQMDX Franklin Maryland TaxPairCorr
  0.76WAARX Western Asset TotalPairCorr
  0.62FQTEX Franklin Strategic SeriesPairCorr

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   
UUPIX
+ 0.94
SFGIX
SFGIX
+ 0.93
VIESX
UUPIX
+ 0.92
SMSDX
APDOX
+ 0.91
SMSDX
BELSX
+ 0.91
SMSDX
UUPIX
+ 0.9
VIESX
  
High negative correlations   
RYACX
- 0.06
EGLNX

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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