Franklin Gold Correlations

Mutual Funds . USA . 
Fund . Franklin Gold Precious
FKRCX Fund  USD 28.48  0.06  0.21%   
The current 90-days correlation between Franklin Gold Precious and Franklin Mutual Beacon is -0.02 (i.e., Good diversification). The correlation of Franklin Gold 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 Gold Correlation With Market

Very good diversification

The correlation between Franklin Gold Precious and DJI is -0.42 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Gold Precious 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 Gold Precious. 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 main economic indicators.

Moving together with Franklin Mutual Fund

  0.63TEBIX Franklin Mutual BeaconPairCorr
  0.61TEDIX Franklin Mutual GlobalPairCorr
  0.72TEGBX Templeton Global BondPairCorr
  0.63TEMEX Franklin Mutual BeaconPairCorr
  0.61TEMMX Templeton EmergingPairCorr
  0.63TEMIX Franklin Mutual EuropeanPairCorr
  0.61TEMWX Templeton WorldPairCorr
  0.64FQEMX Franklin Templeton SmacsPairCorr
  0.63TEPLX Templeton GrowthPairCorr
  0.65LGGAX Clearbridge InternationalPairCorr
  0.63TEURX Franklin Mutual EuropeanPairCorr
  0.63LGIEX Qs International EquityPairCorr
  0.61TEWTX Templeton WorldPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Gold 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 Gold'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TEBIX  0.57  0.20  0.08 (2.03) 0.43 
(0.63)
 1.43 
(1.12)
 3.58 
TEDMX  0.59  0.31  0.25 (21.71) 0.00 
(0.75)
 1.58 
(1.27)
 4.48 
TEDIX  0.51  0.18  0.05 (2.16) 0.46 
(0.54)
 1.12 
(1.33)
 3.32 
TEDSX  0.51  0.18  0.05 (1.98) 0.46 
(0.54)
 1.15 
(1.32)
 3.37 
TEDRX  0.51  0.07  0.02  0.24  0.51 
(0.53)
 1.12 
(1.33)
 3.36 
TEFRX  0.66  0.14  0.11  0.37  0.46 
(0.82)
 1.76 
(1.39)
 4.25 
TEFTX  0.66  0.25  0.13 (2.34) 0.45 
(0.83)
 1.71 
(1.35)
 4.24 
TEGBX  0.34  0.08 (0.11) 4.98  0.16 
(0.47)
 0.88 
(0.43)
 2.11 
TEGRX  0.54  0.16  0.16  0.35  0.25 
(0.62)
 1.83 
(1.01)
 3.53 
TEMFX  0.67  0.25  0.14 (2.22) 0.41 
(0.81)
 1.72 
(1.35)
 4.14 

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