Franklin California Correlations

FCQAX Fund

USD 9.74 0.00 0.00%

The current 90-days correlation between Franklin California High and Allianzgi Convertible Income is 0.1 (i.e., Average diversification). The correlation of Franklin California 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.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Franklin California High. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Franklin Mutual Fund

0.98	MKCMX	Blackrock California	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.76	VSMPX	Vanguard Total Stock	Pair Corr
0.78	VITSX	Vanguard Total Stock	Pair Corr
0.79	VFFSX	Vanguard 500 Index	Pair Corr
0.8	VFIAX	Vanguard 500 Index	Pair Corr
0.83	VTISX	Vanguard Total Inter	Pair Corr
0.83	VTSNX	Vanguard Total Inter	Pair Corr
0.83	VTPSX	Vanguard Total Inter	Pair Corr
0.8	VINIX	Vanguard Institutional	Pair Corr
0.76	VTSAX	Vanguard Total Stock	Pair Corr
0.91	GPICX	Guidepath Conservative	Pair Corr
0.66	AXP	American Express	Pair Corr
0.79	CAT	Caterpillar	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.8	INTC	Intel Aggressive Push	Pair Corr
0.86	IBM	International Business	Pair Corr
0.84	GE	GE Aerospace	Pair Corr

Moving against Franklin Mutual Fund

0.73	T	ATT Inc	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.52	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.48	MCD	McDonalds	Pair Corr
0.46	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	NCV	PCNTX	LCFYX	NCIDX	XAVKX	XNCVX	CCD
NCV		0.83	0.94	0.92	0.56	0.92	0.95	NCV
PCNTX	0.83		0.87	0.92	0.9	0.96	0.89	PCNTX
LCFYX	0.94	0.87		0.98	0.63	0.96	0.91	LCFYX
NCIDX	0.92	0.92	0.98		0.73	0.98	0.93	NCIDX
XAVKX	0.56	0.9	0.63	0.73		0.78	0.71	XAVKX
XNCVX	0.92	0.96	0.96	0.98	0.78		0.93	XNCVX
CCD	0.95	0.89	0.91	0.93	0.71	0.93		CCD
	NCV	PCNTX	LCFYX	NCIDX	XAVKX	XNCVX	CCD

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin California 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 California'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
NCV	0.65	0.06	0.06	0.10	0.81	(0.63)	1.16	(1.46)	3.39
PCNTX	0.61	(0.03)	0.00	(0.02)	0.00	0.00	1.11	(1.51)	4.49
LCFYX	0.68	0.03	0.03	0.06	0.85	(0.78)	1.16	(1.69)	4.63
NCIDX	0.65	0.02	0.02	0.04	0.94	(0.61)	1.13	(1.79)	4.80
XAVKX	0.52	(0.07)	0.00	(0.07)	0.00	0.00	0.77	(1.55)	3.08
XNCVX	0.68	0.00	0.00	0.02	0.98	(0.69)	1.16	(1.74)	5.47
CCD	0.81	0.05	0.04	0.07	1.14	(0.78)	1.75	(2.09)	4.71

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Franklin California Correlations

Moving together with Franklin Mutual Fund

Moving against Franklin Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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