Franklin High Correlations

Mutual Funds . USA . 
Fund . Franklin High Income
FHRRX Fund  USD 1.75  0.00  0.00%   
The current 90-days correlation between Franklin High Income and Franklin Mutual Beacon is 0.4 (i.e., Very weak 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

Very weak diversification

The correlation between Franklin High Income and DJI is 0.42 (i.e., Very weak 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 metropolitan statistical area.

Moving together with Franklin Mutual Fund

  0.98TEBIX Franklin Mutual BeaconPairCorr
  0.98TEDMX Templeton DevelopingPairCorr
  0.98TEDIX Franklin Mutual GlobalPairCorr
  0.98TEDSX Franklin Mutual GlobalPairCorr
  0.98TEDRX Franklin Mutual GlobalPairCorr
  0.97TEFRX Templeton ForeignPairCorr
  0.97TEFTX Templeton ForeignPairCorr
  0.93TEGBX Templeton Global BondPairCorr
  0.98TEGRX Templeton GrowthPairCorr
  0.98TEMFX Templeton ForeignPairCorr
  0.97TEMGX Templeton Global SmallerPairCorr
  0.98TEMEX Franklin Mutual BeaconPairCorr
  0.98TEMMX Templeton EmergingPairCorr
  0.97TEMIX Franklin Mutual EuropeanPairCorr
  0.98TEMWX Templeton WorldPairCorr
  0.98TEMTX Franklin Mutual SharesPairCorr
  0.98TEMQX Mutual QuestPairCorr
  0.96SAIFX Clearbridge Large CapPairCorr
  0.98SAGYX Clearbridge AggressivePairCorr
  0.98TEMZX Templeton EmergingPairCorr
  0.96FQEMX Franklin Templeton SmacsPairCorr
  0.98TEQIX Franklin Mutual QuestPairCorr
  0.98TEPLX Templeton GrowthPairCorr
  0.98TWDAX Templeton WorldPairCorr
  0.98TESIX Franklin Mutual SharesPairCorr
  0.97TESGX Templeton Global SmallerPairCorr
  0.98TESRX Franklin Mutual SharesPairCorr
  0.92LGGAX Clearbridge InternationalPairCorr
  0.97TEURX Franklin Mutual EuropeanPairCorr
  0.94LGIEX Qs International EquityPairCorr
  0.98TEWTX Templeton WorldPairCorr
  0.98SAPYX Clearbridge AppreciationPairCorr
  0.98SASMX Clearbridge Small CapPairCorr
  0.9WAADX Western Asset SmashPairCorr
  0.87WAARX 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 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TEBIX  0.56  0.09  0.06  0.26  0.43 
(0.63)
 1.43 
(1.12)
 3.58 
TEDMX  0.58  0.22  0.22  0.58  0.15 
(0.73)
 1.58 
(1.27)
 4.48 
TEDIX  0.51  0.07  0.02  0.24  0.50 
(0.53)
 1.12 
(1.33)
 3.32 
TEDSX  0.51  0.06  0.02  0.23  0.52 
(0.53)
 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  0.65  0.14  0.11  0.37  0.48 
(0.81)
 1.71 
(1.35)
 4.24 
TEGBX  0.33  0.08 (0.13)(1.16) 0.19 
(0.44)
 0.87 
(0.43)
 2.11 
TEGRX  0.54  0.16  0.16  0.35  0.25 
(0.62)
 1.83 
(1.01)
 3.53 
TEMFX  0.66  0.14  0.11  0.38  0.44 
(0.80)
 1.72 
(1.35)
 4.14 

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