Franklin Ohio Correlations

Mutual Funds . USA . 
Fund . Franklin Ohio Tax Free
FTOIX Fund  USD 11.52  0.02  0.17%   
The current 90-days correlation between Franklin Ohio Tax and Mondrian Emerging Markets is 0.27 (i.e., Modest diversification). The correlation of Franklin Ohio 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 Ohio Correlation With Market

Average diversification

The correlation between Franklin Ohio Tax Free and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Ohio Tax Free 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 Ohio Tax Free. 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 gross domestic product.

Moving together with Franklin Mutual Fund

  0.81TEBIX Franklin Mutual BeaconPairCorr
  0.78TEDIX Franklin Mutual GlobalPairCorr
  0.78TEDSX Franklin Mutual GlobalPairCorr
  0.78TEDRX Franklin Mutual GlobalPairCorr
  0.86TEGBX Templeton Global BondPairCorr
  0.76TEGRX Templeton GrowthPairCorr
  0.72TEMGX Templeton Global SmallerPairCorr
  0.81TEMEX Franklin Mutual BeaconPairCorr
  0.75TEMWX Templeton WorldPairCorr
  0.79TEMTX Franklin Mutual SharesPairCorr
  0.99FQCTX Franklin Necticut TaxPairCorr
  0.67SAIFX Clearbridge Large CapPairCorr
  0.79SAGYX Clearbridge AggressivePairCorr
  0.62TEMZX Templeton EmergingPairCorr
  0.99FQCHX Franklin Templeton SmacsPairCorr
  0.75TEPLX Templeton GrowthPairCorr
  0.66TWDAX Templeton WorldPairCorr
  0.74TESIX Franklin Mutual SharesPairCorr
  0.77TESGX Templeton Global SmallerPairCorr
  0.74TESRX Franklin Mutual SharesPairCorr
  0.78LGIEX Qs International EquityPairCorr
  0.92FQLAX Franklin Louisiana TaxPairCorr
  0.65TEWTX Templeton WorldPairCorr
  0.81SAPYX Clearbridge AppreciationPairCorr
  0.71SASMX Clearbridge Small CapPairCorr
  1.0FQNCX Franklin North CarolinaPairCorr
  0.99FQMDX Franklin Maryland TaxPairCorr
  0.67WAARX Western Asset TotalPairCorr

Moving against Franklin Mutual Fund

  0.61WAADX Western Asset SmashPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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