Franklin Federal Correlations

Mutual Funds . USA . 
Fund . Franklin Federal Intermediate Term
FITZX Fund  USD 11.08  0.02  0.18%   
The current 90-days correlation between Franklin Federal Int and Barings High Yield is 0.5 (i.e., Very weak diversification). The correlation of Franklin Federal 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 Federal Correlation With Market

Good diversification

The correlation between Franklin Federal Intermediate and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Federal Intermediate 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 Federal Intermediate Term. 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

  0.89TEDIX Franklin Mutual GlobalPairCorr
  0.86TEMGX Templeton Global SmallerPairCorr
  0.87TEMEX Franklin Mutual BeaconPairCorr
  0.86TEMMX Templeton EmergingPairCorr
  0.85TEMIX Franklin Mutual EuropeanPairCorr
  0.89TEMWX Templeton WorldPairCorr
  0.89TEMTX Franklin Mutual SharesPairCorr
  0.89TEMQX Mutual QuestPairCorr
  0.8FQCTX Franklin Necticut TaxPairCorr
  0.88SAIFX Clearbridge Large CapPairCorr
  0.87SAGYX Clearbridge AggressivePairCorr
  0.85TEMZX Templeton EmergingPairCorr
  0.86FQEMX Franklin Templeton SmacsPairCorr
  0.89TEQIX Franklin Mutual QuestPairCorr
  0.88TEPLX Templeton GrowthPairCorr
  0.89TWDAX Templeton WorldPairCorr
  0.89TESIX Franklin Mutual SharesPairCorr
  0.87TESGX Templeton Global SmallerPairCorr
  0.89TESRX Franklin Mutual SharesPairCorr
  0.78LGGAX Clearbridge InternationalPairCorr
  0.85TEURX Franklin Mutual EuropeanPairCorr
  0.82LGIEX Qs International EquityPairCorr
  0.89TEWTX Templeton WorldPairCorr
  0.88SAPYX Clearbridge AppreciationPairCorr
  0.87SASMX Clearbridge Small CapPairCorr
  0.79FQNCX Franklin North CarolinaPairCorr
  0.79WAADX Western Asset SmashPairCorr
  0.88WAARX 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 Federal 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 Federal'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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