Franklin Virginia Correlations

FVAQX Fund

USD 9.79 0.05 0.51%

The current 90-days correlation between Franklin Virginia Tax and Fa 529 Aggressive is 0.12 (i.e., Average diversification). The correlation of Franklin Virginia 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 Virginia Correlation With Market

Significant diversification

The correlation between Franklin Virginia Tax Free and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Virginia 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 Virginia 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 producer price index.

Moving together with Franklin Mutual Fund

0.97	FQCTX	Franklin Necticut Tax	Pair Corr
0.89	FQCHX	Franklin Templeton Smacs	Pair Corr
0.95	FQLAX	Franklin Louisiana Tax	Pair Corr
0.98	FQNCX	Franklin North Carolina	Pair Corr
0.99	FQMDX	Franklin Maryland Tax	Pair Corr
0.84	FQTHX	Franklin Templeton Smacs	Pair Corr

Related Correlations Analysis

	FFCGX	FTUFOX	FMFTX	FZDAQX	FSULTX	FZNOPX	IAADX	OPTCX
FFCGX		-0.03	0.44	0.47	-0.01	0.71	0.33	0.24	FFCGX
FTUFOX	-0.03		0.24	0.58	0.96	-0.38	0.66	0.32	FTUFOX
FMFTX	0.44	0.24		0.36	0.22	0.45	0.08	-0.26	FMFTX
FZDAQX	0.47	0.58	0.36		0.61	0.25	0.42	0.16	FZDAQX
FSULTX	-0.01	0.96	0.22	0.61		-0.37	0.67	0.36	FSULTX
FZNOPX	0.71	-0.38	0.45	0.25	-0.37		-0.26	-0.25	FZNOPX
IAADX	0.33	0.66	0.08	0.42	0.67	-0.26		0.69	IAADX
OPTCX	0.24	0.32	-0.26	0.16	0.36	-0.25	0.69		OPTCX
	FFCGX	FTUFOX	FMFTX	FZDAQX	FSULTX	FZNOPX	IAADX	OPTCX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FSULTX	+ 0.96	FTUFOX
FZNOPX	+ 0.71	FFCGX
OPTCX	+ 0.69	IAADX
IAADX	+ 0.67	FSULTX
IAADX	+ 0.66	FTUFOX
FSULTX	+ 0.61	FZDAQX

High negative correlations

FZNOPX	- 0.38	FTUFOX
FZNOPX	- 0.37	FSULTX
IAADX	- 0.26	FZNOPX
OPTCX	- 0.26	FMFTX
OPTCX	- 0.25	FZNOPX
FTUFOX	- 0.03	FFCGX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Virginia 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 Virginia'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
FFCGX	0.74	0.00	0.00	0.00	1.02	(0.75)	1.37	(1.56)	4.66
FTUFOX	0.10	0.00	0.00	0.13	0.01	(0.10)	0.20	(0.19)	0.60
FMFTX	0.92	(0.14)	0.00	(5.00)	0.00	0.00	1.43	(2.17)	8.22
FZDAQX	0.11	(0.01)	(0.03)	(0.05)	0.17	(0.15)	0.21	(0.21)	1.03
FSULTX	0.28	0.01	0.01	0.44	0.35	(0.29)	0.56	(0.49)	1.75
FZNOPX	0.76	0.01	0.01	0.02	0.84	(0.87)	1.55	(1.59)	3.75
IAADX	0.22	(0.01)	0.00	0.20	0.00	0.00	0.44	(0.33)	2.51
OPTCX	0.06	(0.01)	(0.03)	3.08	0.07	(0.18)	0.21	(0.21)	0.93

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC