Franklin Utilities Correlations

Mutual Funds . USA . 
Fund . Franklin Utilities Fund
FKUTX Fund  USD 24.09  0.01  0.04%   
The current 90-days correlation between Franklin Utilities and T Rowe Price is 0.76 (i.e., Poor diversification). The correlation of Franklin Utilities 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 Utilities Correlation With Market

Good diversification

The correlation between Franklin Utilities Fund and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Utilities 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 Utilities 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 estimate.

Moving together with Franklin Mutual Fund

  0.88D Dominion EnergyPairCorr
  0.85ES Eversource EnergyPairCorr
  0.77HE Hawaiian ElectricPairCorr
  0.66NI NiSourcePairCorr
  0.73RNWWW ReNew Energy GlobalPairCorr
  0.85ELPC Companhia ParanaensePairCorr
  0.84ENIC Enel Chile SAPairCorr
  0.72ENLT Enlight Renewable EnergyPairCorr
  0.83AQN Algonquin Power UtilitiesPairCorr
  0.75BEP Brookfield RenewablePairCorr
  0.86BIP Brookfield InfrastructurePairCorr
  0.8CEG Constellation Energy CorpPairCorr
  0.83CIG Companhia EnergeticaPairCorr
  0.68DTW DTE EnergyPairCorr

Moving against Franklin Mutual Fund

  0.52CMS-PB Consumers EnergyPairCorr
  0.49ED Consolidated EdisonPairCorr
  0.49CPK Chesapeake UtilitiesPairCorr
  0.47AVA AvistaPairCorr
  0.43CWT California Water ServicePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FLKYPX
+ 0.99
FLAKQX
FBJYGX
+ 0.99
BBHLX
WRLDX
+ 0.98
RPBAX
FLAKQX
+ 0.96
RPBAX
BBHLX
+ 0.96
FLAKQX
FLKYPX
+ 0.96
BBHLX
  
High negative correlations   
IEMSX
- 0.21
FBJYGX
IEMSX
- 0.13
BBHLX
IEMSX
- 0.0
FLKYPX

Risk-Adjusted Indicators

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