Franklin Utilities Correlations

FRURX Fund

USD 22.66 0.33 1.44%

The current 90-days correlation between Franklin Utilities and Franklin Mutual Beacon is -0.09 (i.e., Good diversification). The correlation of Franklin Utilities 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 Utilities Correlation With Market

Very good diversification

The correlation between Franklin Utilities Fund and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Utilities Fund 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 Utilities Fund. 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 metropolitan statistical area.

Moving together with Franklin Mutual Fund

0.64	NI	NiSource	Pair Corr
0.61	DUKB	Duke Energy Corp	Pair Corr
0.63	EVRG	Evergy,	Pair Corr
0.64	AQN	Algonquin Power Utilities	Pair Corr
0.61	DTE	DTE Energy	Pair Corr

Moving against Franklin Mutual Fund

0.45	ELLO	Ellomay Capital Earnings Call This Week	Pair Corr
0.39	RNWWW	ReNew Energy Global	Pair Corr

Related Correlations Analysis

	TEBIX	TEDMX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	FHAIX	TEGRX
TEBIX		0.88	0.97	0.88	0.87	0.87	0.87	0.85	0.78	TEBIX
TEDMX	0.88		0.92	0.87	0.96	0.96	0.91	0.69	0.61	TEDMX
TEDSX	0.97	0.92		0.91	0.96	0.96	0.95	0.78	0.66	TEDSX
TEDRX	0.88	0.87	0.91		0.89	0.89	0.89	0.84	0.72	TEDRX
TEFRX	0.87	0.96	0.96	0.89		1.0	0.96	0.67	0.52	TEFRX
TEFTX	0.87	0.96	0.96	0.89	1.0		0.96	0.67	0.52	TEFTX
TEGBX	0.87	0.91	0.95	0.89	0.96	0.96		0.75	0.53	TEGBX
FHAIX	0.85	0.69	0.78	0.84	0.67	0.67	0.75		0.78	FHAIX
TEGRX	0.78	0.61	0.66	0.72	0.52	0.52	0.53	0.78		TEGRX
	TEBIX	TEDMX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	FHAIX	TEGRX

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Utilities 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 Utilities' 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	0.57	0.09	0.12	0.14	0.59	(0.65)	1.14	(0.89)	2.84
TEDMX	0.82	0.11	0.10	0.23	0.95	(0.87)	1.78	(1.81)	5.23
TEDSX	0.51	0.14	0.20	0.24	0.47	(0.59)	1.00	(0.88)	3.31
TEDRX	0.52	0.14	0.20	(2.40)	0.47	(0.60)	1.15	(0.91)	3.34
TEFRX	0.79	0.17	0.17	0.24	0.76	(0.87)	1.76	(1.29)	5.16
TEFTX	0.79	0.17	0.17	0.25	0.77	(0.89)	1.83	(1.25)	5.00
TEGBX	0.32	0.08	0.18	0.61	0.12	(0.43)	0.75	(0.46)	2.14
FHAIX	0.17	0.02	0.03	(1.40)	0.10	(0.58)	0.58	(0.57)	1.16
TEGRX	0.65	0.04	0.04	(0.46)	0.79	(0.68)	1.59	(1.45)	4.40

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