Franklin High Correlations

Mutual Funds . USA . 
Fund . Franklin High Yield
FRHIX Fund  USD 8.93  0.01  0.11%   
The current 90-days correlation between Franklin High Yield and Bmo In Retirement Fund is 0.64 (i.e., Poor diversification). The correlation of Franklin High 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 High Correlation With Market

Average diversification

The correlation between Franklin High Yield and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin High Yield 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 High Yield. 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

  0.7TEDMX Templeton DevelopingPairCorr
  0.7TEDIX Franklin Mutual GlobalPairCorr
  0.7TEDRX Franklin Mutual GlobalPairCorr
  0.71TEFRX Templeton ForeignPairCorr
  0.71TEFTX Templeton ForeignPairCorr
  0.81TEGBX Templeton Global BondPairCorr
  0.71TEMFX Templeton ForeignPairCorr
  0.77TEMEX Franklin Mutual BeaconPairCorr
  0.74TEMIX Franklin Mutual EuropeanPairCorr
  0.97FQCHX Franklin Templeton SmacsPairCorr
  0.75TEQIX Franklin Mutual QuestPairCorr
  0.74TEURX Franklin Mutual EuropeanPairCorr
  0.64FQTEX Franklin Strategic SeriesPairCorr
  0.89WACPX Western Asset EPairCorr
  0.87WAFAX Western Asset InflationPairCorr
  0.7TFFAX Templeton ForeignPairCorr
  0.77SBAYX Western Asset AdjustablePairCorr
  0.87WAIIX Western Asset InflationPairCorr
  0.71SBIYX Clearbridge InternationalPairCorr
  0.95FRCOX Franklin Orado TaxPairCorr
  0.82FRCTX Franklin California TaxPairCorr
  0.92FRFTX Franklin Federal TaxPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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