Franklin High Correlations

Mutual Funds . USA . 
Fund . Franklin High Yield
FHYIX Fund  USD 8.68  0.02  0.23%   
The current 90-days correlation between Franklin High Yield and Qs Growth Fund is 0.19 (i.e., Average 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

Modest diversification

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

  0.72TEBIX Franklin Mutual BeaconPairCorr
  0.67TEDMX Templeton DevelopingPairCorr
  0.74TEDIX Franklin Mutual GlobalPairCorr
  0.74TEDSX Franklin Mutual GlobalPairCorr
  0.74TEDRX Franklin Mutual GlobalPairCorr
  0.7TEFRX Templeton ForeignPairCorr
  0.7TEFTX Templeton ForeignPairCorr
  0.66TEGBX Templeton Global BondPairCorr
  0.69TEGRX Templeton GrowthPairCorr
  0.7TEMFX Templeton ForeignPairCorr
  0.72TEMGX Templeton Global SmallerPairCorr
  0.72TEMEX Franklin Mutual BeaconPairCorr
  0.68TEMMX Templeton EmergingPairCorr
  0.7TEMIX Franklin Mutual EuropeanPairCorr
  0.69TEMWX Templeton WorldPairCorr
  0.72TEMTX Franklin Mutual SharesPairCorr
  0.72TEMQX Mutual QuestPairCorr
  0.95FQCTX Franklin Necticut TaxPairCorr
  0.7SAIFX Clearbridge Large CapPairCorr
  0.72SAGYX Clearbridge AggressivePairCorr
  0.68TEMZX Templeton EmergingPairCorr
  0.85FQCHX Franklin Templeton SmacsPairCorr
  0.61FQEMX Franklin Templeton SmacsPairCorr
  0.71TEQIX Franklin Mutual QuestPairCorr
  0.69TEPLX Templeton GrowthPairCorr
  0.69TWDAX Templeton WorldPairCorr
  0.72TESIX Franklin Mutual SharesPairCorr
  0.72TESGX Templeton Global SmallerPairCorr
  0.72TESRX Franklin Mutual SharesPairCorr
  0.68LGGAX Clearbridge InternationalPairCorr
  0.7TEURX Franklin Mutual EuropeanPairCorr
  0.7LGIEX Qs International EquityPairCorr
  0.86FQLAX Franklin Louisiana TaxPairCorr
  0.7TEWTX Templeton WorldPairCorr
  0.7SAPYX Clearbridge AppreciationPairCorr
  0.73SASMX Clearbridge Small CapPairCorr
  0.97FQNCX Franklin North CarolinaPairCorr
  0.84FQMDX Franklin Maryland TaxPairCorr
  0.61WAADX Western Asset SmashPairCorr
  0.61WAARX 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.

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