Franklin New Correlations

Mutual Funds . USA . 
Fund . Franklin New York
FKNRX Fund  USD 10.85  0.01  0.09%   
The current 90-days correlation between Franklin New York and Mainstay High Yield is 0.09 (i.e., Significant 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 0.18 (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

  0.84TEBIX Franklin Mutual BeaconPairCorr
  0.61TEDMX Templeton DevelopingPairCorr
  0.81TEDIX Franklin Mutual GlobalPairCorr
  0.72TEDSX Franklin Mutual GlobalPairCorr
  0.71TEDRX Franklin Mutual GlobalPairCorr
  0.73TEFRX Templeton ForeignPairCorr
  0.73TEFTX Templeton ForeignPairCorr
  0.88TEGBX Templeton Global BondPairCorr
  0.79TEGRX Templeton GrowthPairCorr
  0.73TEMFX Templeton ForeignPairCorr
  0.8TEMEX Franklin Mutual BeaconPairCorr
  0.61TEMIX Franklin Mutual EuropeanPairCorr
  0.61TEMWX Templeton WorldPairCorr
  0.66TEMTX Franklin Mutual SharesPairCorr
  0.75TEMQX Mutual QuestPairCorr
  0.87FQCTX Franklin Necticut TaxPairCorr
  0.68SAGYX Clearbridge AggressivePairCorr
  0.9FQCHX Franklin Templeton SmacsPairCorr
  0.74TEQIX Franklin Mutual QuestPairCorr
  0.79TEPLX Templeton GrowthPairCorr
  0.61TESIX Franklin Mutual SharesPairCorr
  0.62TESGX Templeton Global SmallerPairCorr
  0.61TESRX Franklin Mutual SharesPairCorr
  0.72LGGAX Clearbridge InternationalPairCorr
  0.61TEURX Franklin Mutual EuropeanPairCorr
  0.86LGIEX Qs International EquityPairCorr
  0.79FQLAX Franklin Louisiana TaxPairCorr
  0.7SAPYX Clearbridge AppreciationPairCorr
  0.63SASMX Clearbridge Small CapPairCorr
  0.92FQNCX Franklin North CarolinaPairCorr
  0.86FQMDX Franklin Maryland TaxPairCorr
  0.79WAARX Western Asset TotalPairCorr

Moving against Franklin Mutual Fund

  0.35WAADX Western Asset SmashPairCorr

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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