Franklin Moderate Correlations

FMTZX Fund

USD 16.21 0.05 0.31%

The current 90-days correlation between Franklin Moderate and Franklin Mutual Beacon is 0.62 (i.e., Poor diversification). The correlation of Franklin Moderate 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 Moderate Correlation With Market

Poor diversification

The correlation between Franklin Moderate Allocation and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Moderate Allocation 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 Moderate Allocation. 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 nation.

Moving together with Franklin Mutual Fund

0.73	TEBIX	Franklin Mutual Beacon	Pair Corr
0.71	TEMEX	Franklin Mutual Beacon	Pair Corr
0.92	TEMWX	Templeton World	Pair Corr
0.66	TEMTX	Franklin Mutual Shares	Pair Corr
0.73	TEMQX	Mutual Quest	Pair Corr
0.69	SAIFX	Clearbridge Large Cap	Pair Corr
0.61	SAGYX	Clearbridge Aggressive	Pair Corr
0.75	TEQIX	Franklin Mutual Quest	Pair Corr
0.93	TWDAX	Templeton World	Pair Corr
0.72	TESIX	Franklin Mutual Shares	Pair Corr
0.66	TESRX	Franklin Mutual Shares	Pair Corr
0.64	FQLAX	Franklin Louisiana Tax	Pair Corr
0.93	TEWTX	Templeton World	Pair Corr
0.77	SASMX	Clearbridge Small Cap	Pair Corr

Moving against Franklin Mutual Fund

0.42	TEGBX	Templeton Global Bond	Pair Corr
0.4	TEFTX	Templeton Foreign	Pair Corr
0.39	TEFRX	Templeton Foreign	Pair Corr
0.39	TEMFX	Templeton Foreign	Pair Corr
0.39	TFFAX	Templeton Foreign	Pair Corr
0.36	FRBRX	Franklin Biotechnology	Pair Corr
0.33	SBIYX	Clearbridge International	Pair Corr

Related Correlations Analysis

	TEBIX	TEDMX	TEDIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMFX
TEBIX		-0.39	0.53	0.26	0.34	-0.36	-0.44	-0.31	0.59	-0.36	TEBIX
TEDMX	-0.39		0.39	0.33	0.37	0.77	0.76	0.46	0.23	0.78	TEDMX
TEDIX	0.53	0.39		0.77	0.77	0.56	0.47	0.49	0.75	0.56	TEDIX
TEDSX	0.26	0.33	0.77		0.95	0.6	0.65	0.68	0.57	0.6	TEDSX
TEDRX	0.34	0.37	0.77	0.95		0.48	0.55	0.48	0.65	0.47	TEDRX
TEFRX	-0.36	0.77	0.56	0.6	0.48		0.94	0.88	0.24	1.0	TEFRX
TEFTX	-0.44	0.76	0.47	0.65	0.55	0.94		0.87	0.2	0.94	TEFTX
TEGBX	-0.31	0.46	0.49	0.68	0.48	0.88	0.87		0.13	0.88	TEGBX
TEGRX	0.59	0.23	0.75	0.57	0.65	0.24	0.2	0.13		0.24	TEGRX
TEMFX	-0.36	0.78	0.56	0.6	0.47	1.0	0.94	0.88	0.24		TEMFX
	TEBIX	TEDMX	TEDIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMFX

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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

TEMFX	+ 1.0	TEFRX
TEDRX	+ 0.95	TEDSX
TEFTX	+ 0.94	TEFRX
TEMFX	+ 0.94	TEFTX
TEGBX	+ 0.88	TEFRX
TEMFX	+ 0.88	TEGBX

High negative correlations

TEFTX	- 0.44	TEBIX
TEDMX	- 0.39	TEBIX
TEMFX	- 0.36	TEBIX
TEFRX	- 0.36	TEBIX
TEGBX	- 0.31	TEBIX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Moderate 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 Moderate'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
TEBIX	0.44	(0.05)	0.00	(0.03)	0.00	0.00	0.83	(0.94)	2.80
TEDMX	0.79	0.00	(0.04)	0.08	0.85	(0.99)	1.84	(1.68)	6.20
TEDIX	0.47	(0.08)	0.00	(0.07)	0.00	0.00	0.88	(0.97)	2.77
TEDSX	0.48	(0.04)	0.00	1.59	0.00	0.00	0.88	(0.96)	2.75
TEDRX	0.47	(0.02)	0.00	1.06	0.00	0.00	0.87	(0.95)	2.76
TEFRX	0.74	(0.11)	0.00	(0.31)	0.00	0.00	1.86	(1.62)	5.42
TEFTX	0.75	(0.07)	0.00	1.45	0.00	0.00	1.82	(1.69)	5.46
TEGBX	0.41	(0.17)	0.00	(1.14)	0.00	0.00	0.67	(1.00)	2.75
TEGRX	0.54	(0.09)	0.00	(0.07)	0.00	0.00	1.23	(0.88)	4.66
TEMFX	0.74	(0.11)	0.00	(0.29)	0.00	0.00	1.81	(1.69)	5.45

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