Franklin Dynatech Correlations

Mutual Funds . USA . 
Fund . Franklin Dynatech Fund
FKDNX Fund  USD 192.85  0.41  0.21%   
The current 90-days correlation between Franklin Dynatech and Invesco Global Health is -0.05 (i.e., Good diversification). The correlation of Franklin Dynatech 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 Dynatech Correlation With Market

Good diversification

The correlation between Franklin Dynatech Fund and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Dynatech Fund 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 Dynatech Fund. 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 board of governors.

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
  0.97TEDRX Franklin Mutual GlobalPairCorr
  0.97TEFRX Templeton ForeignPairCorr
  0.98TEFTX Templeton ForeignPairCorr
  0.89TEGBX Templeton Global BondPairCorr
  0.98TEGRX Templeton GrowthPairCorr
  0.98TEMFX Templeton ForeignPairCorr
  0.98TEMGX Templeton Global SmallerPairCorr
  0.98TEMEX Franklin Mutual BeaconPairCorr
  0.99TEMMX Templeton EmergingPairCorr
  0.96TEMIX Franklin Mutual EuropeanPairCorr
  0.99TEMWX Templeton WorldPairCorr
  0.98TEMTX Franklin Mutual SharesPairCorr
  0.98TEMQX Mutual QuestPairCorr
  0.96SAIFX Clearbridge Large CapPairCorr
  0.98SAGYX Clearbridge AggressivePairCorr
  0.98TEMZX Templeton EmergingPairCorr
  0.99TEPLX Templeton GrowthPairCorr
  0.99TWDAX Templeton WorldPairCorr
  0.98TESIX Franklin Mutual SharesPairCorr
  0.98TESRX Franklin Mutual SharesPairCorr
  0.93LGGAX Clearbridge InternationalPairCorr
  0.96TEURX Franklin Mutual EuropeanPairCorr
  0.99TEWTX Templeton WorldPairCorr
  0.98SAPYX Clearbridge AppreciationPairCorr
  0.92WAADX Western Asset SmashPairCorr
  0.81WAARX Western Asset TotalPairCorr
  0.64WACPX Western Asset EPairCorr
  0.68WABAX Western Asset EPairCorr
  0.97LGVAX Clearbridge Value TrustPairCorr
  0.97TFEQX International EquityPairCorr
  0.7WAFAX Western Asset InflationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Dynatech 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 Dynatech'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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