Franklin Small Correlations

FSGAX Fund

USD 46.86 1.99 4.07%

The current 90-days correlation between Franklin Small Mid and Dodge Cox Stock is 0.13 (i.e., Average 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

Very poor diversification

The correlation between Franklin Small Mid Cap and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Small Mid 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 Mid 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 nation.

Moving together with Franklin Mutual Fund

0.67	TEBIX	Franklin Mutual Beacon	Pair Corr
0.64	TEMEX	Franklin Mutual Beacon	Pair Corr
0.82	TEMWX	Templeton World	Pair Corr
0.82	TEMTX	Franklin Mutual Shares	Pair Corr
0.88	SAIFX	Clearbridge Large Cap	Pair Corr
0.74	SAGYX	Clearbridge Aggressive	Pair Corr
0.82	TWDAX	Templeton World	Pair Corr
0.87	TESIX	Franklin Mutual Shares	Pair Corr
0.83	TESRX	Franklin Mutual Shares	Pair Corr
0.8	TEWTX	Templeton World	Pair Corr
0.64	SAPYX	Clearbridge Appreciation	Pair Corr
0.89	SASMX	Clearbridge Small Cap	Pair Corr

Moving against Franklin Mutual Fund

0.81	TEGBX	Templeton Global Bond	Pair Corr
0.8	TEFRX	Templeton Foreign	Pair Corr
0.8	TEMFX	Templeton Foreign	Pair Corr
0.79	TEFTX	Templeton Foreign	Pair Corr
0.74	TEMMX	Templeton Emerging	Pair Corr
0.7	TEMIX	Franklin Mutual European	Pair Corr
0.47	TEDMX	Templeton Developing	Pair Corr
0.74	TEMZX	Templeton Emerging	Pair Corr
0.72	TEURX	Franklin Mutual European	Pair Corr
0.62	LGIEX	Qs International Equity	Pair Corr
0.58	FQEMX	Franklin Templeton Smacs	Pair Corr
0.48	LGGAX	Clearbridge International	Pair Corr
0.8	TFFAX	Templeton Foreign	Pair Corr
0.7	WABAX	Western Asset E	Pair Corr
0.69	TFESX	International Equity	Pair Corr
0.69	TFEQX	International Equity	Pair Corr
0.62	WAFAX	Western Asset Inflation	Pair Corr
0.61	FQTIX	Franklin Strategic Series	Pair Corr

Related Correlations Analysis

	DOXGX	JAAIX	WSHFX	GMLVX	FALCX
DOXGX		0.6	0.84	-0.46	0.0	DOXGX
JAAIX	0.6		0.8	-0.22	0.0	JAAIX
WSHFX	0.84	0.8		-0.2	0.0	WSHFX
GMLVX	-0.46	-0.22	-0.2		0.0	GMLVX
FALCX	0.0	0.0	0.0	0.0		FALCX
	DOXGX	JAAIX	WSHFX	GMLVX	FALCX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

WSHFX	+ 0.84	DOXGX
WSHFX	+ 0.8	JAAIX
JAAIX	+ 0.6	DOXGX
FALCX	+ 0.0	DOXGX
FALCX	+ 0.0	JAAIX
FALCX	+ 0.0	WSHFX

High negative correlations

GMLVX	- 0.46	DOXGX
GMLVX	- 0.22	JAAIX
GMLVX	- 0.2	WSHFX
FALCX	- 0.0	GMLVX
FALCX	- 0.0	WSHFX
FALCX	- 0.0	JAAIX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DOXGX	0.49	0.04	(0.04)	1.99	0.44	(0.56)	0.94	(0.85)	4.31
JAAIX	0.14	0.01	(0.24)	2.57	0.07	(0.20)	0.37	(0.25)	0.87
WSHFX	0.46	0.06	0.01	1.47	0.43	(0.50)	1.02	(0.78)	3.31
GMLVX	0.67	0.01	(0.04)	0.08	0.75	(0.79)	1.50	(1.56)	4.86
FALCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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