Franklin Utilities Correlations

Mutual Funds . USA . 
Fund . Franklin Utilities Fund
FKUTX Fund  USD 24.59  0.45  1.86%   
The current 90-days correlation between Franklin Utilities and Goldman Sachs Technology is 0.19 (i.e., Average 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

Very weak diversification

The correlation between Franklin Utilities Fund and DJI is 0.47 (i.e., Very weak 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

  0.92D Dominion EnergyPairCorr
  0.84ES Eversource Energy Earnings Call This WeekPairCorr
  0.63HE Hawaiian ElectricPairCorr
  0.69NI NiSourcePairCorr
  0.63RNWWW ReNew Energy GlobalPairCorr
  0.71ELPC Companhia ParanaensePairCorr
  0.79ENLT Enlight Renewable EnergyPairCorr
  0.72AQN Algonquin Power UtilitiesPairCorr
  0.79BEP Brookfield RenewablePairCorr
  0.79BIP Brookfield InfrastructurePairCorr
  0.85CEG Constellation Energy CorpPairCorr
  0.8CIG Companhia EnergeticaPairCorr
  0.8DTW DTE EnergyPairCorr

Moving against Franklin Mutual Fund

  0.67ED Consolidated EdisonPairCorr
  0.59WTRG Essential UtilitiesPairCorr
  0.69CWT California Water ServicePairCorr
  0.63AVA AvistaPairCorr
  0.61EXC ExelonPairCorr
  0.57CPK Chesapeake UtilitiesPairCorr
  0.5BKH Black HillsPairCorr
  0.5HTO H2O America Symbol ChangePairCorr
  0.48EDN Empresa DistribuidoraPairCorr
  0.44AWR American States WaterPairCorr
  0.44EIX Edison International Earnings Call This WeekPairCorr
  0.37CMS CMS Energy Earnings Call This WeekPairCorr
  0.33AWK American Water WorksPairCorr

Related Correlations Analysis

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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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