Franklin Biotechnology Correlations

Mutual Funds . USA . 
Fund . Franklin Biotechnology Discovery
FBDIX Fund  USD 120.97  0.91  0.76%   
The current 90-days correlation between Franklin Biotechnology and Allianzgi Health Sciences is 0.77 (i.e., Poor diversification). The correlation of Franklin Biotechnology 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 Biotechnology Correlation With Market

Good diversification

The correlation between Franklin Biotechnology Discove and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Biotechnology Discove 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 Biotechnology Discovery. 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

  0.67TEBIX Franklin Mutual BeaconPairCorr
  0.69TEDMX Templeton DevelopingPairCorr
  0.68TEDIX Franklin Mutual GlobalPairCorr
  0.68TEDSX Franklin Mutual GlobalPairCorr
  0.64TEDRX Franklin Mutual GlobalPairCorr
  0.64TEFRX Templeton ForeignPairCorr
  0.67TEFTX Templeton ForeignPairCorr
  0.74TEGBX Templeton Global BondPairCorr
  0.66TEGRX Templeton GrowthPairCorr
  0.67TEMFX Templeton ForeignPairCorr
  0.61TEMGX Templeton Global SmallerPairCorr
  0.67TEMEX Franklin Mutual BeaconPairCorr
  0.66TEMMX Templeton EmergingPairCorr
  0.66TEMIX Franklin Mutual EuropeanPairCorr
  0.67TEMWX Templeton WorldPairCorr
  0.68TEMTX Franklin Mutual SharesPairCorr
  0.63TEMQX Mutual QuestPairCorr
  0.64SAIFX Clearbridge Large CapPairCorr
  0.61SAGYX Clearbridge AggressivePairCorr
  0.64TEMZX Templeton EmergingPairCorr
  0.72FQEMX Franklin Templeton SmacsPairCorr
  0.68TEPLX Templeton GrowthPairCorr
  0.67TWDAX Templeton WorldPairCorr
  0.68TESIX Franklin Mutual SharesPairCorr
  0.68TESRX Franklin Mutual SharesPairCorr
  0.65LGGAX Clearbridge InternationalPairCorr
  0.65TEURX Franklin Mutual EuropeanPairCorr
  0.65LGIEX Qs International EquityPairCorr
  0.67TEWTX Templeton WorldPairCorr
  0.64SAPYX Clearbridge AppreciationPairCorr
  0.63SASMX Clearbridge Small CapPairCorr
  0.67WAADX Western Asset SmashPairCorr
  0.75WAARX Western Asset TotalPairCorr
  0.68FQTEX Franklin Strategic SeriesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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