Franklin Utilities Correlations

FUFRX Fund

USD 23.06 0.33 1.41%

The current 90-days correlation between Franklin Utilities and Artisan High Income is 0.02 (i.e., Significant 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

Modest diversification

The correlation between Franklin Utilities Fund and DJI is 0.27 (i.e., Modest 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

0.62	D	Dominion Energy	Pair Corr
0.75	ES	Eversource Energy	Pair Corr
0.68	HE	Hawaiian Electric	Pair Corr
0.79	NI	NiSource	Pair Corr
0.68	SR	Spire Inc	Pair Corr
0.66	DUKB	Duke Energy Corp	Pair Corr
0.67	ELPC	Companhia Paranaense	Pair Corr
0.66	ENIC	Enel Chile SA	Pair Corr
0.77	EVRG	Evergy,	Pair Corr
0.73	AEE	Ameren Corp	Pair Corr
0.65	AEP	American Electric Power	Pair Corr
0.69	ALE	Allete Inc	Pair Corr
0.7	AQN	Algonquin Power Utilities	Pair Corr
0.71	ATO	Atmos Energy	Pair Corr
0.69	BKH	Black Hills	Pair Corr
0.65	CMS	CMS Energy	Pair Corr
0.66	CNP	CenterPoint Energy	Pair Corr
0.67	DTE	DTE Energy	Pair Corr
0.64	DTW	DTE Energy	Pair Corr

Moving against Franklin Mutual Fund

0.42	RNWWW	ReNew Energy Global	Pair Corr
0.31	ELLO	Ellomay Capital Earnings Call This Week	Pair Corr
0.52	XIFR	XPLR Infrastructure Symbol Change	Pair Corr
0.36	EIX	Edison International	Pair Corr

Related Correlations Analysis

	ARTFX	FLQTVX	PRVBX	UIITX	MSTBX	CBOEX
ARTFX		0.73	0.81	0.78	0.73	0.72	ARTFX
FLQTVX	0.73		0.89	0.89	0.88	0.87	FLQTVX
PRVBX	0.81	0.89		0.97	0.98	0.97	PRVBX
UIITX	0.78	0.89	0.97		0.98	0.98	UIITX
MSTBX	0.73	0.88	0.98	0.98		0.99	MSTBX
CBOEX	0.72	0.87	0.97	0.98	0.99		CBOEX
	ARTFX	FLQTVX	PRVBX	UIITX	MSTBX	CBOEX

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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
ARTFX	0.13	0.02	0.09	(0.66)	0.00	(0.20)	0.55	(0.22)	0.89
FLQTVX	0.12	0.01	0.09	0.71	0.00	(0.13)	0.24	(0.18)	0.77
PRVBX	0.11	0.02	0.13	(1.23)	0.00	(0.13)	0.25	(0.17)	0.53
UIITX	0.23	0.03	0.10	(0.38)	0.12	(0.29)	0.56	(0.43)	1.45
MSTBX	0.11	0.02	0.12	(2.22)	0.00	(0.16)	0.21	(0.21)	0.62
CBOEX	0.17	0.03	0.12	(0.42)	0.00	(0.21)	0.41	(0.32)	0.98

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