Franklin New Correlations

FNYIX Fund

USD 10.14 0.01 0.1%

The current 90-days correlation between Franklin New York and Jhancock Disciplined Value is -0.4 (i.e., Very good 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

Very good diversification

The correlation between Franklin New York and DJI is -0.31 (i.e., Very good 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 gross domestic product.

Moving together with Franklin Mutual Fund

0.99	FQCTX	Franklin Necticut Tax	Pair Corr
0.97	FQCHX	Franklin Templeton Smacs	Pair Corr
0.92	FQLAX	Franklin Louisiana Tax	Pair Corr
0.99	FQNCX	Franklin North Carolina	Pair Corr
0.98	FQMDX	Franklin Maryland Tax	Pair Corr
0.81	WAARX	Western Asset Total	Pair Corr

Moving against Franklin Mutual Fund

0.42

WAADX

Western Asset Smash

Pair Corr

Related Correlations Analysis

	JDVNX	FIOOX	AMONX	RTLCX	MTCGX	DLCIX	TWQZX
JDVNX		0.98	0.98	0.97	0.92	0.98	0.98	JDVNX
FIOOX	0.98		0.96	0.97	0.89	0.97	0.98	FIOOX
AMONX	0.98	0.96		0.99	0.96	1.0	0.96	AMONX
RTLCX	0.97	0.97	0.99		0.96	0.99	0.96	RTLCX
MTCGX	0.92	0.89	0.96	0.96		0.97	0.91	MTCGX
DLCIX	0.98	0.97	1.0	0.99	0.97		0.97	DLCIX
TWQZX	0.98	0.98	0.96	0.96	0.91	0.97		TWQZX
	JDVNX	FIOOX	AMONX	RTLCX	MTCGX	DLCIX	TWQZX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JDVNX	0.55	(0.01)	(0.02)	0.12	0.37	(0.71)	1.19	(0.94)	5.12
FIOOX	0.50	(0.01)	(0.08)	0.11	0.30	(0.62)	1.06	(0.73)	3.54
AMONX	0.63	0.10	0.10	0.23	0.55	(0.70)	1.63	(1.30)	4.55
RTLCX	0.48	0.02	(0.01)	0.16	0.47	(0.54)	1.05	(0.99)	4.06
MTCGX	0.80	0.07	0.05	0.21	0.96	(0.79)	1.66	(2.12)	6.07
DLCIX	0.51	0.04	0.03	0.18	0.52	(0.56)	1.23	(0.97)	4.24
TWQZX	0.47	(0.02)	(0.10)	0.11	0.30	(0.57)	1.16	(0.67)	3.48

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