Franklin Small Correlations

FSSAX Fund

USD 24.09 0.04 0.17%

The current 90-days correlation between Franklin Small Cap and Davis Financial Fund is 0.72 (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

Poor diversification

The correlation between Franklin Small Cap 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 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 nation.

Moving together with Franklin Mutual Fund

0.88	TEMGX	Templeton Global Smaller	Pair Corr
0.92	SAGYX	Clearbridge Aggressive	Pair Corr
0.88	TESGX	Templeton Global Smaller	Pair Corr
0.89	SAPYX	Clearbridge Appreciation	Pair Corr
0.96	SASMX	Clearbridge Small Cap	Pair Corr

Moving against Franklin Mutual Fund

0.63	TEMIX	Franklin Mutual European	Pair Corr
0.62	TEFRX	Templeton Foreign	Pair Corr
0.62	TEFTX	Templeton Foreign	Pair Corr
0.62	TEMFX	Templeton Foreign	Pair Corr
0.6	TEGBX	Templeton Global Bond	Pair Corr
0.47	TEDMX	Templeton Developing	Pair Corr
0.37	TEDIX	Franklin Mutual Global	Pair Corr
0.37	TEDSX	Franklin Mutual Global	Pair Corr
0.37	TEDRX	Franklin Mutual Global	Pair Corr
0.33	TEMQX	Mutual Quest	Pair Corr
0.62	TEURX	Franklin Mutual European	Pair Corr
0.58	LGIEX	Qs International Equity	Pair Corr
0.36	FQCHX	Franklin Templeton Smacs	Pair Corr
0.34	TEQIX	Franklin Mutual Quest	Pair Corr
0.66	WABAX	Western Asset E	Pair Corr
0.64	WAARX	Western Asset Total	Pair Corr
0.63	TFFAX	Templeton Foreign	Pair Corr
0.62	WACPX	Western Asset E	Pair Corr
0.61	SBAYX	Western Asset Adjustable	Pair Corr
0.56	WAFAX	Western Asset Inflation	Pair Corr

Related Correlations Analysis

	DVFYX	SBFAX	FAFSX	RMBKX	MCBXX	MSVIX	FIKBX
DVFYX		0.94	0.77	0.58	0.0	0.31	0.78	DVFYX
SBFAX	0.94		0.91	0.81	0.0	0.54	0.92	SBFAX
FAFSX	0.77	0.91		0.93	0.0	0.8	1.0	FAFSX
RMBKX	0.58	0.81	0.93		0.0	0.86	0.92	RMBKX
MCBXX	0.0	0.0	0.0	0.0		0.0	0.0	MCBXX
MSVIX	0.31	0.54	0.8	0.86	0.0		0.79	MSVIX
FIKBX	0.78	0.92	1.0	0.92	0.0	0.79		FIKBX
	DVFYX	SBFAX	FAFSX	RMBKX	MCBXX	MSVIX	FIKBX

Click cells to compare fundamentals

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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

FIKBX	+ 1.0	FAFSX
SBFAX	+ 0.94	DVFYX
RMBKX	+ 0.93	FAFSX
FIKBX	+ 0.92	SBFAX
FIKBX	+ 0.92	RMBKX
FAFSX	+ 0.91	SBFAX

High negative correlations

FIKBX	- 0.0	MCBXX
MSVIX	- 0.0	MCBXX
MCBXX	- 0.0	RMBKX
MCBXX	- 0.0	FAFSX
MCBXX	- 0.0	SBFAX
MCBXX	- 0.0	DVFYX

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
DVFYX	0.83	0.07	0.06	0.01	1.31	(0.78)	1.65	(2.39)	6.47
SBFAX	0.76	0.01	0.00	(0.06)	0.00	0.00	1.65	(1.92)	5.22
FAFSX	0.89	(0.04)	0.00	(0.11)	0.00	0.00	1.65	(2.71)	6.26
RMBKX	1.12	(0.13)	0.00	(0.20)	0.00	0.00	2.19	(3.08)	6.79
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSVIX	0.96	(0.18)	0.00	(0.27)	0.00	0.00	1.40	(2.19)	10.85
FIKBX	0.89	(0.03)	0.00	(0.10)	0.00	0.00	1.66	(2.69)	6.29

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