Franklin Floating Correlations

Mutual Funds . USA . 
Fund . Franklin Floating Rate
FDAAX Fund  USD 7.62  0.01  0.13%   
The current 90-days correlation between Franklin Floating Rate and Franklin Mutual Beacon is 0.36 (i.e., Weak diversification). The correlation of Franklin Floating 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 Floating Correlation With Market

Good diversification

The correlation between Franklin Floating Rate and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Floating Rate 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 Floating Rate. 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 nation.

Moving together with Franklin Mutual Fund

  0.98TEBIX Franklin Mutual BeaconPairCorr
  0.96TEDMX Templeton DevelopingPairCorr
  0.97TEDIX Franklin Mutual GlobalPairCorr
  0.97TEDSX Franklin Mutual GlobalPairCorr
  0.96TEDRX Franklin Mutual GlobalPairCorr
  0.97TEFRX Templeton ForeignPairCorr
  0.97TEFTX Templeton ForeignPairCorr
  0.89TEGBX Templeton Global BondPairCorr
  0.98TEGRX Templeton GrowthPairCorr
  0.97TEMFX Templeton ForeignPairCorr
  0.97TEMGX Templeton Global SmallerPairCorr
  0.98TEMEX Franklin Mutual BeaconPairCorr
  0.98TEMMX Templeton EmergingPairCorr
  0.96TEMIX Franklin Mutual EuropeanPairCorr
  0.97TEMWX Templeton WorldPairCorr
  0.96TEMTX Franklin Mutual SharesPairCorr
  0.97TEMQX Mutual QuestPairCorr
  0.96SAIFX Clearbridge Large CapPairCorr
  0.97SAGYX Clearbridge AggressivePairCorr
  0.98TEMZX Templeton EmergingPairCorr
  0.93FQEMX Franklin Templeton SmacsPairCorr
  0.97TEQIX Franklin Mutual QuestPairCorr
  0.98TEPLX Templeton GrowthPairCorr
  0.97TWDAX Templeton WorldPairCorr
  0.96TESIX Franklin Mutual SharesPairCorr
  0.96TESGX Templeton Global SmallerPairCorr
  0.96TESRX Franklin Mutual SharesPairCorr
  0.94LGGAX Clearbridge InternationalPairCorr
  0.96TEURX Franklin Mutual EuropeanPairCorr
  0.94LGIEX Qs International EquityPairCorr
  0.97TEWTX Templeton WorldPairCorr
  0.97SAPYX Clearbridge AppreciationPairCorr
  0.97SASMX Clearbridge Small CapPairCorr
  0.94WAADX Western Asset SmashPairCorr
  0.76WAARX Western Asset TotalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Floating 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 Floating'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TEBIX  0.57  0.20  0.08 (2.03) 0.43 
(0.63)
 1.43 
(1.12)
 3.58 
TEDMX  0.59  0.31  0.25 (21.71) 0.00 
(0.75)
 1.58 
(1.27)
 4.48 
TEDIX  0.51  0.18  0.05 (2.16) 0.46 
(0.54)
 1.12 
(1.33)
 3.32 
TEDSX  0.51  0.18  0.05 (1.98) 0.46 
(0.54)
 1.15 
(1.32)
 3.37 
TEDRX  0.51  0.07  0.02  0.24  0.51 
(0.53)
 1.12 
(1.33)
 3.36 
TEFRX  0.66  0.14  0.11  0.37  0.46 
(0.82)
 1.76 
(1.39)
 4.25 
TEFTX  0.66  0.25  0.13 (2.34) 0.45 
(0.83)
 1.71 
(1.35)
 4.24 
TEGBX  0.34  0.08 (0.11) 4.98  0.16 
(0.47)
 0.88 
(0.43)
 2.11 
TEGRX  0.54  0.16  0.16  0.35  0.25 
(0.62)
 1.83 
(1.01)
 3.53 
TEMFX  0.67  0.25  0.14 (2.22) 0.41 
(0.81)
 1.72 
(1.35)
 4.14 

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