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 0.12 (i.e., Average 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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios. 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

  0.99VNYUX Vanguard New YorkPairCorr
  0.99VNYTX Vanguard New YorkPairCorr
  0.98MSTPX Morningstar MunicipalPairCorr

Moving against Franklin Mutual Fund

  0.55PYARX Payden Absolute ReturnPairCorr
  0.51PYAIX Payden Absolute ReturnPairCorr

Related Correlations Analysis

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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.