Franklin Ohio Correlations

Mutual Funds . USA . 
Fund . Franklin Ohio Tax Free
FOHQX Fund  USD 11.53  0.02  0.17%   
The current 90-days correlation between Franklin Ohio Tax and Calvert Bond Portfolio is 0.45 (i.e., Very weak diversification). The correlation of Franklin Ohio 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 Ohio Correlation With Market

Modest diversification

The correlation between Franklin Ohio Tax Free and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Ohio Tax Free 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 Ohio Tax Free. 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 producer price index.

Moving together with Franklin Mutual Fund

  0.84TEBIX Franklin Mutual BeaconPairCorr
  0.83TEDIX Franklin Mutual GlobalPairCorr
  0.74TEDSX Franklin Mutual GlobalPairCorr
  0.74TEDRX Franklin Mutual GlobalPairCorr
  0.63TEFTX Templeton ForeignPairCorr
  0.84TEGBX Templeton Global BondPairCorr
  0.77TEGRX Templeton GrowthPairCorr
  0.63TEMGX Templeton Global SmallerPairCorr
  0.79TEMEX Franklin Mutual BeaconPairCorr
  0.67TEMWX Templeton WorldPairCorr
  0.75TEMTX Franklin Mutual SharesPairCorr
  0.93FQCTX Franklin Necticut TaxPairCorr
  0.74SAGYX Clearbridge AggressivePairCorr
  0.93FQCHX Franklin Templeton SmacsPairCorr
  0.75TEPLX Templeton GrowthPairCorr
  0.69TESIX Franklin Mutual SharesPairCorr
  0.7TESGX Templeton Global SmallerPairCorr
  0.69TESRX Franklin Mutual SharesPairCorr
  0.79LGIEX Qs International EquityPairCorr
  0.84FQLAX Franklin Louisiana TaxPairCorr
  0.83SAPYX Clearbridge AppreciationPairCorr
  0.63SASMX Clearbridge Small CapPairCorr
  0.95FQNCX Franklin North CarolinaPairCorr
  0.93FQMDX Franklin Maryland TaxPairCorr
  0.7WAARX Western Asset TotalPairCorr

Moving against Franklin Mutual Fund

  0.48WAADX Western Asset SmashPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Ohio 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 Ohio'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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