Franklin Mutual Correlations

FMEUX Fund

USD 24.32 0.57 2.29%

The current 90-days correlation between Franklin Mutual European and Intermediate Government Bond is 0.01 (i.e., Significant diversification). The correlation of Franklin Mutual 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 Mutual Correlation With Market

Very weak diversification

The correlation between Franklin Mutual European and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Mutual European 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 Mutual European. 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 employment.

Moving together with Franklin Mutual Fund

0.78	TEDMX	Templeton Developing	Pair Corr
0.66	TEDIX	Franklin Mutual Global	Pair Corr
0.68	TEDSX	Franklin Mutual Global	Pair Corr
0.67	TEDRX	Franklin Mutual Global	Pair Corr
0.96	TEFRX	Templeton Foreign	Pair Corr
0.9	TEFTX	Templeton Foreign	Pair Corr
0.84	TEGBX	Templeton Global Bond	Pair Corr
0.97	TEMFX	Templeton Foreign	Pair Corr
0.7	TEMGX	Templeton Global Smaller	Pair Corr
0.95	TEMMX	Templeton Emerging	Pair Corr
0.91	TEMIX	Franklin Mutual European	Pair Corr
0.85	FQEMX	Franklin Templeton Smacs	Pair Corr
0.72	TESGX	Templeton Global Smaller	Pair Corr
0.9	LGGAX	Clearbridge International	Pair Corr
1.0	TEURX	Franklin Mutual European	Pair Corr
0.93	LGIEX	Qs International Equity	Pair Corr

Moving against Franklin Mutual Fund

0.67	SAIFX	Clearbridge Large Cap	Pair Corr
0.59	TESIX	Franklin Mutual Shares	Pair Corr
0.5	TESRX	Franklin Mutual Shares	Pair Corr
0.49	TEMTX	Franklin Mutual Shares	Pair Corr
0.41	SAGYX	Clearbridge Aggressive	Pair Corr
0.75	SBAYX	Western Asset Adjustable	Pair Corr
0.55	FRAAX	Franklin Growth Oppo	Pair Corr
0.54	SASMX	Clearbridge Small Cap	Pair Corr
0.45	FRBSX	Franklin Balance Sheet	Pair Corr
0.34	SBBAX	Qs Servative Growth	Pair Corr
0.31	WAADX	Western Asset Smash	Pair Corr

Related Correlations Analysis

	DPIGX	ICAXX	DACGX	SNGYX	DIPXX	SSAGX
DPIGX		0.0	0.38	0.41	0.02	0.5	DPIGX
ICAXX	0.0		0.0	0.0	0.0	0.0	ICAXX
DACGX	0.38	0.0		0.96	-0.72	-0.51	DACGX
SNGYX	0.41	0.0	0.96		-0.71	-0.53	SNGYX
DIPXX	0.02	0.0	-0.72	-0.71		0.61	DIPXX
SSAGX	0.5	0.0	-0.51	-0.53	0.61		SSAGX
	DPIGX	ICAXX	DACGX	SNGYX	DIPXX	SSAGX

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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

SNGYX	+ 0.96	DACGX
SSAGX	+ 0.61	DIPXX
SSAGX	+ 0.5	DPIGX
SNGYX	+ 0.41	DPIGX
DACGX	+ 0.38	DPIGX
DIPXX	+ 0.02	DPIGX

High negative correlations

DIPXX	- 0.72	DACGX
DIPXX	- 0.71	SNGYX
SSAGX	- 0.53	SNGYX
SSAGX	- 0.51	DACGX
SSAGX	- 0.0	ICAXX
DIPXX	- 0.0	ICAXX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Mutual 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 Mutual'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
DPIGX	0.04	(0.01)	(0.23)	(1.45)	0.05	(0.14)	0.11	(0.11)	0.42
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DACGX	0.20	(0.06)	0.00	(5.85)	0.00	0.00	0.32	(0.48)	1.12
SNGYX	0.16	(0.04)	0.00	(1.09)	0.00	0.00	0.29	(0.29)	0.98
DIPXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
SSAGX	0.03	0.00	(0.21)	(0.81)	0.00	(0.22)	0.10	(0.10)	0.51

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