Franklin Minnesota Correlations

Mutual Funds . USA . 
Fund . Franklin Minnesota Tax Free
FMNIX Fund  USD 11.21  0.01  0.09%   
The current 90-days correlation between Franklin Minnesota Tax and Ab Municipal Bond is 0.12 (i.e., Average diversification). The correlation of Franklin Minnesota 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 Minnesota Correlation With Market

Average diversification

The correlation between Franklin Minnesota Tax Free and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Minnesota Tax Free 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 Minnesota Tax Free. 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 gross domestic product.

Moving together with Franklin Mutual Fund

  1.0FKTDX Franklin Minnesota TaxPairCorr
  0.93FMNZX Franklin Minnesota TaxPairCorr
  1.0FMNQX Franklin Minnesota TaxPairCorr
  0.93FMINX Franklin Minnesota TaxPairCorr
  1.0RMTCX Columbia Minnesota TaxPairCorr
  0.93CMNYX Columbia Minnesota TaxPairCorr
  1.0CMNZX Columbia Minnesota TaxPairCorr
  0.93CADOX Columbia Minnesota TaxPairCorr
  0.67PFN Pimco Income StrategyPairCorr
  0.71XDSMX Dreyfus StrategicPairCorr
  0.69XNXJX Nuveen New JerseyPairCorr
  0.67NXJ Nuveen New JerseyPairCorr
  0.72XPPRX Voya Prime RatePairCorr
  0.73PCF Putnam High IncomePairCorr
  0.79XNBHX Neuberger Berman IntPairCorr
  0.72GIGGX Deutsche GnmaPairCorr
  0.81WCCFX Wealthbuilder ConservativePairCorr
  0.78JTOIX Multimanager LifestylePairCorr
  0.66XSWZX Swiss HelvetiaPairCorr
  0.65IGFAX Vy Morgan StanleyPairCorr
  0.72TEDPX Tiaa Cref EmergingPairCorr
  0.79BACPX Blackrock ConservativePairCorr
  0.73MSPHX Massmutual Select TotalPairCorr
  0.71WATCX Western Asset IntermPairCorr
  0.78CKKRX Columbia Income BuilderPairCorr
  0.79RBBCX Columbia Income BuilderPairCorr
  0.76CITEX American High IncomePairCorr
  0.76IIBAX Voya Intermediate BondPairCorr
  0.76NHIEX Neuberger Berman IncomePairCorr
  0.63JSEAX Jpmorgan InternationalPairCorr
  0.63CCLFX Cliffwater CorporatePairCorr
  0.62HEMZX Virtus Emerging MarketsPairCorr
  0.64ASBFX Short Term BondPairCorr
  0.73RIRFX Capital Income BuilderPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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