Franklin New Correlations

Mutual Funds . USA . 
Fund . Franklin New York
FNYZX Fund  USD 10.74  0.02  0.19%   
The current 90-days correlation between Franklin New York and John Hancock Financial is 0.22 (i.e., Modest 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

Average diversification

The correlation between Franklin New York and DJI is 0.12 (i.e., Average 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 nation.

Moving together with Franklin Mutual Fund

  0.76TEBIX Franklin Mutual BeaconPairCorr
  0.67TEDMX Templeton DevelopingPairCorr
  0.67TEDIX Franklin Mutual GlobalPairCorr
  0.67TEDSX Franklin Mutual GlobalPairCorr
  0.66TEDRX Franklin Mutual GlobalPairCorr
  0.67TEFRX Templeton ForeignPairCorr
  0.68TEFTX Templeton ForeignPairCorr
  0.77TEGBX Templeton Global BondPairCorr
  0.68TEMFX Templeton ForeignPairCorr
  0.76TEMEX Franklin Mutual BeaconPairCorr
  0.71TEMIX Franklin Mutual EuropeanPairCorr
  0.73TEMQX Mutual QuestPairCorr
  0.92FQCTX Franklin Necticut TaxPairCorr
  0.97FQCHX Franklin Templeton SmacsPairCorr
  0.73TEQIX Franklin Mutual QuestPairCorr
  0.76LGGAX Clearbridge InternationalPairCorr
  0.71TEURX Franklin Mutual EuropeanPairCorr
  0.74LGIEX Qs International EquityPairCorr
  0.94FQLAX Franklin Louisiana TaxPairCorr
  0.95FQNCX Franklin North CarolinaPairCorr
  0.9FQMDX Franklin Maryland TaxPairCorr
  0.79WAARX Western Asset TotalPairCorr
  0.64FQTEX Franklin Strategic SeriesPairCorr

Related Correlations Analysis

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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   
FIKBX
+ 0.93
BTO
FNPIX
+ 0.91
FIKBX
FNPIX
+ 0.87
PGFMX
FNPIX
+ 0.82
BTO
MSVIX
+ 0.81
BTO
MSVIX
+ 0.79
FIKBX
  
High negative correlations   
MSVIX
- 0.0
FTIXX
FTIXX
- 0.0
FNPIX
FTIXX
- 0.0
PGFMX
FTIXX
- 0.0
FIKBX
FTIXX
- 0.0
BTO

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.

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