Franklin New Correlations

Mutual Funds . USA . 
Fund . Franklin New York
FKNRX Fund  USD 10.73  0.01  0.09%   
The current 90-days correlation between Franklin New York and Timothy Plan Conservative is 0.35 (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 0.12 (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 metropolitan statistical area.

Moving together with Franklin Mutual Fund

  0.76TEBIX Franklin Mutual BeaconPairCorr
  0.68TEDMX Templeton DevelopingPairCorr
  0.67TEDIX Franklin Mutual GlobalPairCorr
  0.67TEDSX Franklin Mutual GlobalPairCorr
  0.66TEDRX Franklin Mutual GlobalPairCorr
  0.68TEFRX Templeton ForeignPairCorr
  0.68TEFTX Templeton ForeignPairCorr
  0.77TEGBX Templeton Global BondPairCorr
  0.68TEMFX Templeton ForeignPairCorr
  0.76TEMEX Franklin Mutual BeaconPairCorr
  0.71TEMIX Franklin Mutual EuropeanPairCorr
  0.74TEMQX Mutual QuestPairCorr
  0.92FQCTX Franklin Necticut TaxPairCorr
  0.96FQCHX Franklin Templeton SmacsPairCorr
  0.74TEQIX Franklin Mutual QuestPairCorr
  0.76LGGAX Clearbridge InternationalPairCorr
  0.71TEURX Franklin Mutual EuropeanPairCorr
  0.74LGIEX Qs International EquityPairCorr
  0.94FQLAX Franklin Louisiana TaxPairCorr
  0.95FQNCX Franklin North CarolinaPairCorr
  0.9FQMDX Franklin Maryland TaxPairCorr
  0.78WAARX Western Asset TotalPairCorr
  0.65FQTEX Franklin Strategic SeriesPairCorr

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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