Franklin Small Correlations

FRVLX Fund

USD 55.98 0.01 0.02%

The current 90-days correlation between Franklin Small Cap and Franklin Rising Dividends is 0.79 (i.e., Poor diversification). The correlation of Franklin Small 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 Small Correlation With Market

Good diversification

The correlation between Franklin Small Cap and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Small Cap 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 Small Cap. 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 bureau of economic analysis.

Moving together with Franklin Mutual Fund

0.69	TEBIX	Franklin Mutual Beacon	Pair Corr
0.89	TEDIX	Franklin Mutual Global	Pair Corr
0.89	TEDSX	Franklin Mutual Global	Pair Corr
0.89	TEDRX	Franklin Mutual Global	Pair Corr
0.7	TEGBX	Templeton Global Bond	Pair Corr
0.7	TEGRX	Templeton Growth	Pair Corr
0.94	TEMGX	Templeton Global Smaller	Pair Corr
0.81	TEMEX	Franklin Mutual Beacon	Pair Corr
0.66	TEMMX	Templeton Emerging	Pair Corr
0.82	TEMWX	Templeton World	Pair Corr
0.86	TEMTX	Franklin Mutual Shares	Pair Corr
0.72	FQCTX	Franklin Necticut Tax	Pair Corr
0.98	SAIFX	Clearbridge Large Cap	Pair Corr
0.67	TEMZX	Templeton Emerging	Pair Corr
0.73	FQCHX	Franklin Templeton Smacs	Pair Corr
0.94	TWDAX	Templeton World	Pair Corr
0.97	TESIX	Franklin Mutual Shares	Pair Corr
0.87	TESGX	Templeton Global Smaller	Pair Corr
0.97	TESRX	Franklin Mutual Shares	Pair Corr
0.82	FQLAX	Franklin Louisiana Tax	Pair Corr
0.95	TEWTX	Templeton World	Pair Corr
0.73	SAPYX	Clearbridge Appreciation	Pair Corr
0.84	SASMX	Clearbridge Small Cap	Pair Corr
0.66	FQNCX	Franklin North Carolina	Pair Corr
0.74	FQMDX	Franklin Maryland Tax	Pair Corr

Moving against Franklin Mutual Fund

0.86

WAADX

Western Asset Smash

Pair Corr

Related Correlations Analysis

	FRDPX	TEDIX	TESIX	FKGRX	FRSTX
FRDPX		0.9	0.97	0.91	0.62	FRDPX
TEDIX	0.9		0.95	0.83	0.85	TEDIX
TESIX	0.97	0.95		0.9	0.75	TESIX
FKGRX	0.91	0.83	0.9		0.61	FKGRX
FRSTX	0.62	0.85	0.75	0.61		FRSTX
	FRDPX	TEDIX	TESIX	FKGRX	FRSTX

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Small 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 Small'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FRDPX	0.63	(0.20)	0.68	0.00	0.00	0.92	(1.42)	8.01
TEDIX	0.59	(0.09)	0.64	0.00	0.00	0.86	(1.47)	7.42
TESIX	0.60	(0.18)	1.57	0.00	0.00	1.01	(1.42)	5.78
FKGRX	0.78	(0.18)	(0.34)	0.00	0.00	1.35	(2.01)	7.69
FRSTX	0.20	0.00	(0.06)	0.24	(0.24)	0.49	(0.49)	1.35

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