Franklin High Correlations

Mutual Funds . USA . 
Fund . Franklin High Income
FCHIX Fund  USD 1.80  0.00  0.00%   
The current 90-days correlation between Franklin High Income and Nuveen Nwq Smallmid Cap is 0.28 (i.e., Modest diversification). The correlation of Franklin High 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 High Correlation With Market

Average diversification

The correlation between Franklin High Income and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin High Income 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 High Income. 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

  0.97TEBIX Franklin Mutual BeaconPairCorr
  0.68TEDMX Templeton DevelopingPairCorr
  0.62TEDIX Franklin Mutual GlobalPairCorr
  0.61TEDSX Franklin Mutual GlobalPairCorr
  0.62TEDRX Franklin Mutual GlobalPairCorr
  0.61TEFRX Templeton ForeignPairCorr
  0.97TEFTX Templeton ForeignPairCorr
  0.61TEGBX Templeton Global BondPairCorr
  0.98TEGRX Templeton GrowthPairCorr
  0.97TEMFX Templeton ForeignPairCorr
  0.83TEMGX Templeton Global SmallerPairCorr
  0.84TEMEX Franklin Mutual BeaconPairCorr
  0.87TEMMX Templeton EmergingPairCorr
  0.85TEMIX Franklin Mutual EuropeanPairCorr
  0.86TEMWX Templeton WorldPairCorr
  0.84TEMTX Franklin Mutual SharesPairCorr
  0.85TEMQX Mutual QuestPairCorr
  0.82SAIFX Clearbridge Large CapPairCorr
  0.83SAGYX Clearbridge AggressivePairCorr
  0.87TEMZX Templeton EmergingPairCorr
  0.89FQEMX Franklin Templeton SmacsPairCorr
  0.67TEQIX Franklin Mutual QuestPairCorr
  0.98TEPLX Templeton GrowthPairCorr
  0.86TWDAX Templeton WorldPairCorr
  0.84TESIX Franklin Mutual SharesPairCorr
  0.84TESRX Franklin Mutual SharesPairCorr
  0.75LGGAX Clearbridge InternationalPairCorr
  0.84TEURX Franklin Mutual EuropeanPairCorr
  0.79LGIEX Qs International EquityPairCorr
  0.86TEWTX Templeton WorldPairCorr
  0.84SAPYX Clearbridge AppreciationPairCorr
  0.82SASMX Clearbridge Small CapPairCorr
  0.75WAADX Western Asset SmashPairCorr
  0.77WAARX 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 High 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 High'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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