Franklin Convertible Correlations

Mutual Funds . USA . 
Fund . Franklin Vertible Securities
FROTX Fund  USD 22.15  0.18  0.81%   
The current 90-days correlation between Franklin Convertible and Blackrock Science Technology is 0.72 (i.e., Poor diversification). The correlation of Franklin Convertible 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 Convertible Correlation With Market

Poor diversification

The correlation between Franklin Vertible Securities and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Vertible Securities 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 Vertible Securities. 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 estimate.

Moving together with Franklin Mutual Fund

  0.94TEMGX Templeton Global SmallerPairCorr
  0.85TEMWX Templeton WorldPairCorr
  0.65TEMTX Franklin Mutual SharesPairCorr
  0.85SAIFX Clearbridge Large CapPairCorr
  0.95SAGYX Clearbridge AggressivePairCorr
  0.69TWDAX Templeton WorldPairCorr
  0.64TESIX Franklin Mutual SharesPairCorr
  0.94TESGX Templeton Global SmallerPairCorr
  0.64TESRX Franklin Mutual SharesPairCorr
  0.85TEWTX Templeton WorldPairCorr
  0.92SAPYX Clearbridge AppreciationPairCorr
  0.93SASMX Clearbridge Small CapPairCorr

Moving against Franklin Mutual Fund

  0.35TEMFX Templeton ForeignPairCorr
  0.35TEMIX Franklin Mutual EuropeanPairCorr
  0.34TEFRX Templeton ForeignPairCorr
  0.34TEFTX Templeton ForeignPairCorr
  0.33TEGBX Templeton Global BondPairCorr
  0.35TEURX Franklin Mutual EuropeanPairCorr
  0.33LGIEX Qs International Equity Potential GrowthPairCorr
  0.44WAADX Western Asset SmashPairCorr
  0.41SBAYX Western Asset AdjustablePairCorr
  0.4WABAX Western Asset EPairCorr
  0.37WAARX Western Asset TotalPairCorr
  0.35WACPX Western Asset EPairCorr
  0.35TFFAX Templeton ForeignPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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