Franklin New Correlations

Mutual Funds USA . 
Fund . Franklin New York
FKNIX Fund  USD 10.58  0.02  0.19%   
The current 90-days correlation between Franklin New York and Black Oak Emerging is 0.19 (i.e., Average diversification). The correlation of Franklin New 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 New Correlation With Market

Good diversification

The correlation between Franklin New York and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin New York 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 New York. 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

  0.91TEBIX Franklin Mutual BeaconPairCorr
  0.9TEDMX Templeton DevelopingPairCorr
  0.91TEDIX Franklin Mutual GlobalPairCorr
  0.91TEDSX Franklin Mutual GlobalPairCorr
  0.9TEDRX Franklin Mutual GlobalPairCorr
  0.88TEFRX Templeton ForeignPairCorr
  0.88TEFTX Templeton ForeignPairCorr
  0.88TEGBX Templeton Global BondPairCorr
  0.9TEGRX Templeton GrowthPairCorr
  0.89TEMFX Templeton ForeignPairCorr
  0.89TEMGX Templeton Global SmallerPairCorr
  0.9TEMEX Franklin Mutual BeaconPairCorr
  0.88TEMMX Templeton EmergingPairCorr
  0.88TEMIX Franklin Mutual EuropeanPairCorr
  0.92TEMWX Templeton WorldPairCorr
  0.91TEMTX Franklin Mutual SharesPairCorr
  0.91TEMQX Mutual QuestPairCorr
  0.75FQCTX Franklin Necticut TaxPairCorr
  0.9SAIFX Clearbridge Large CapPairCorr
  0.89SAGYX Clearbridge AggressivePairCorr
  0.88TEMZX Templeton EmergingPairCorr
  0.9FQEMX Franklin Templeton SmacsPairCorr
  0.91TEQIX Franklin Mutual QuestPairCorr
  0.91TEPLX Templeton GrowthPairCorr
  0.91TWDAX Templeton WorldPairCorr
  0.92TESIX Franklin Mutual SharesPairCorr
  0.89TESGX Templeton Global SmallerPairCorr
  0.91TESRX Franklin Mutual SharesPairCorr
  0.79LGGAX Clearbridge InternationalPairCorr
  0.87TEURX Franklin Mutual EuropeanPairCorr
  0.83LGIEX Qs International EquityPairCorr
  0.92TEWTX Templeton WorldPairCorr
  0.9SAPYX Clearbridge AppreciationPairCorr
  0.9SASMX Clearbridge Small CapPairCorr
  0.75FQNCX Franklin North CarolinaPairCorr
  0.83WAADX Western Asset SmashPairCorr
  0.81WAARX 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 New 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 New'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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