Franklin High Correlations

Mutual Funds . USA . 
Fund . Franklin High Yield
FHYVX Fund  USD 8.66  0.02  0.23%   
The current 90-days correlation between Franklin High Yield and T Rowe Price is -0.4 (i.e., Very good 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 good diversification

The correlation between Franklin High Yield and DJI is -0.35 (i.e., Very good 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 real.

Moving together with Franklin Mutual Fund

  0.72TEBIX Franklin Mutual BeaconPairCorr
  0.74TEDMX Templeton DevelopingPairCorr
  0.72TEDIX Franklin Mutual GlobalPairCorr
  0.72TEDSX Franklin Mutual GlobalPairCorr
  0.72TEDRX Franklin Mutual GlobalPairCorr
  0.71TEFRX Templeton ForeignPairCorr
  0.71TEFTX Templeton ForeignPairCorr
  0.71TEGBX Templeton Global BondPairCorr
  0.72TEGRX Templeton GrowthPairCorr
  0.71TEMFX Templeton ForeignPairCorr
  0.73TEMGX Templeton Global SmallerPairCorr
  0.72TEMEX Franklin Mutual BeaconPairCorr
  0.74TEMMX Templeton EmergingPairCorr
  0.7TEMIX Franklin Mutual EuropeanPairCorr
  0.72TEMWX Templeton WorldPairCorr
  0.72TEMTX Franklin Mutual SharesPairCorr
  0.72TEMQX Mutual QuestPairCorr
  0.95FQCTX Franklin Necticut TaxPairCorr
  0.67SAIFX Clearbridge Large CapPairCorr
  0.73SAGYX Clearbridge Aggressive Potential GrowthPairCorr
  0.74TEMZX Templeton EmergingPairCorr
  0.94FQCHX Franklin Templeton SmacsPairCorr
  0.71FQEMX Franklin Templeton SmacsPairCorr
  0.72TEQIX Franklin Mutual QuestPairCorr
  0.72TEPLX Templeton GrowthPairCorr
  0.72TWDAX Templeton WorldPairCorr
  0.72TESIX Franklin Mutual SharesPairCorr
  0.73TESGX Templeton Global SmallerPairCorr
  0.72TESRX Franklin Mutual SharesPairCorr
  0.68LGGAX Clearbridge InternationalPairCorr
  0.7TEURX Franklin Mutual EuropeanPairCorr
  0.68LGIEX Qs International EquityPairCorr
  0.91FQLAX Franklin Louisiana TaxPairCorr
  0.72TEWTX Templeton WorldPairCorr
  0.72SAPYX Clearbridge AppreciationPairCorr
  0.74SASMX Clearbridge Small CapPairCorr
  0.98FQNCX Franklin North CarolinaPairCorr
  0.9FQMDX Franklin Maryland TaxPairCorr
  0.64WAADX Western Asset SmashPairCorr
  0.72WAARX 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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