Franklin Equity Correlations

FREIX Fund

USD 30.49 0.56 1.80%

The current 90-days correlation between Franklin Equity Income and Franklin Mutual Beacon is 0.1 (i.e., Average diversification). The correlation of Franklin Equity 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 Equity Correlation With Market

Very good diversification

The correlation between Franklin Equity Income and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Equity Income 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 Equity Income. 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

0.61	TEDIX	Franklin Mutual Global	Pair Corr
0.87	TEMGX	Templeton Global Smaller	Pair Corr
0.97	TEMTX	Franklin Mutual Shares	Pair Corr
0.87	TESGX	Templeton Global Smaller	Pair Corr
0.92	TESRX	Franklin Mutual Shares	Pair Corr

Moving against Franklin Mutual Fund

0.72	WAADX	Western Asset Smash	Pair Corr
0.43	SBAYX	Western Asset Adjustable	Pair Corr

Related Correlations Analysis

	TEBIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	FHAIX	TEGRX	TEMFX
TEBIX		0.95	0.95	0.83	0.83	0.85	0.83	0.8	0.83	TEBIX
TEDSX	0.95		1.0	0.8	0.81	0.86	0.69	0.63	0.81	TEDSX
TEDRX	0.95	1.0		0.8	0.8	0.85	0.68	0.62	0.8	TEDRX
TEFRX	0.83	0.8	0.8		1.0	0.94	0.79	0.63	1.0	TEFRX
TEFTX	0.83	0.81	0.8	1.0		0.94	0.8	0.64	1.0	TEFTX
TEGBX	0.85	0.86	0.85	0.94	0.94		0.8	0.58	0.94	TEGBX
FHAIX	0.83	0.69	0.68	0.79	0.8	0.8		0.81	0.79	FHAIX
TEGRX	0.8	0.63	0.62	0.63	0.64	0.58	0.81		0.63	TEGRX
TEMFX	0.83	0.81	0.8	1.0	1.0	0.94	0.79	0.63		TEMFX
	TEBIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	FHAIX	TEGRX	TEMFX

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Equity 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 Equity'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
TEBIX	0.64	(0.03)	0.00	(0.63)	0.00	0.00	1.08	(1.55)	3.23
TEDSX	0.67	(0.05)	0.00	0.43	0.00	0.00	0.92	(1.52)	7.25
TEDRX	0.67	(0.05)	0.00	0.42	0.00	0.00	0.95	(1.50)	7.49
TEFRX	0.80	0.13	0.21	2.81	0.90	(0.89)	1.76	(1.69)	5.16
TEFTX	0.83	0.09	0.17	2.71	0.98	(0.91)	1.83	(1.82)	5.00
TEGBX	0.35	0.05	0.26	0.23	0.38	(0.44)	0.75	(0.76)	2.14
FHAIX	0.17	0.01	0.18	0.00	0.20	(0.58)	0.58	(0.57)	1.16
TEGRX	0.65	0.00	0.10	(0.11)	0.96	(0.64)	1.13	(1.45)	4.40
TEMFX	0.79	0.13	0.22	2.74	0.83	(0.93)	1.72	(1.65)	5.03

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