Franklin Natural Correlations

FNCSX Fund

USD 33.51 0.26 0.78%

The current 90-days correlation between Franklin Natural Res and Blackrock Health Sciences is 0.16 (i.e., Average diversification). The correlation of Franklin Natural 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 Natural Correlation With Market

Very weak diversification

The correlation between Franklin Natural Resources 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 Natural Resources 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 Natural Resources. 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 state.

Moving together with Franklin Mutual Fund

0.99	TRNEX	T Rowe Price	Pair Corr
0.71	VMIAX	Vanguard Materials Index	Pair Corr
0.95	PRNEX	T Rowe Price	Pair Corr
0.84	GEACX	Gmo Trust	Pair Corr
0.84	GAAHX	Gmo Resources	Pair Corr
0.8	GMOWX	Gmo Resources	Pair Corr
0.82	GHAIX	Global Hard Assets	Pair Corr
0.9	FANAX	Fidelity Advisor Energy	Pair Corr
0.68	KNPYX	Kinetics Paradigm	Pair Corr
0.9	RYENX	Energy Fund Class	Pair Corr
0.64	OAZMX	Oakmark Fund R6	Pair Corr
0.94	BACAX	Blackrock All Cap	Pair Corr
0.64	AAWEX	World Energy	Pair Corr

Moving against Franklin Mutual Fund

0.48	PQTNX	Pimco Trends Managed	Pair Corr
0.45	PQTAX	Pimco Trends Managed	Pair Corr
0.45	PQTIX	Aa Pimco Tr	Pair Corr
0.36	ASDIX	Aamhimco Short Duration	Pair Corr

Related Correlations Analysis

	SHSSX	VHCIX	HCPIX	LOGSX	BHCHX	RAGHX	DLRHX
SHSSX		1.0	0.99	0.88	0.99	0.99	0.88	SHSSX
VHCIX	1.0		1.0	0.87	0.98	0.99	0.89	VHCIX
HCPIX	0.99	1.0		0.85	0.97	0.97	0.91	HCPIX
LOGSX	0.88	0.87	0.85		0.91	0.86	0.84	LOGSX
BHCHX	0.99	0.98	0.97	0.91		0.98	0.88	BHCHX
RAGHX	0.99	0.99	0.97	0.86	0.98		0.83	RAGHX
DLRHX	0.88	0.89	0.91	0.84	0.88	0.83		DLRHX
	SHSSX	VHCIX	HCPIX	LOGSX	BHCHX	RAGHX	DLRHX

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Natural 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 Natural'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SHSSX	0.62	(0.12)	(0.43)	0.97	(1.41)	3.33
VHCIX	0.63	(0.14)	(0.50)	1.05	(1.42)	2.98
HCPIX	0.92	(0.25)	(0.61)	1.52	(2.01)	3.93
LOGSX	0.62	(0.12)	(0.31)	1.07	(1.52)	4.72
BHCHX	0.71	(0.14)	(0.45)	1.27	(1.58)	4.19
RAGHX	0.67	(0.13)	(0.43)	1.22	(1.55)	3.33
DLRHX	0.88	(0.33)	(4.86)	1.01	(1.84)	13.21

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