Franklin Mutual Correlations

FMDRX Fund

USD 33.35 0.55 1.68%

The correlation of Franklin Mutual 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 Mutual Correlation With Market

Poor diversification

The correlation between Franklin Mutual Global and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Mutual Global 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 Mutual Global. 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 metropolitan statistical area.

Moving together with Franklin Mutual Fund

1.0	TEDRX	Franklin Mutual Global	Pair Corr
0.99	DOXWX	Dodge Cox Global	Pair Corr
0.93	TRZRX	T Rowe Price	Pair Corr
1.0	MDISX	Franklin Mutual Global	Pair Corr
1.0	TEDSX	Franklin Mutual Global	Pair Corr
0.99	BEGRX	Franklin Mutual Beacon	Pair Corr
0.85	FSMMX	Fs Multi Strategy	Pair Corr
0.96	BTMPX	Ishares Msci Eafe	Pair Corr
0.97	BTMKX	Blackrock International	Pair Corr
0.97	MDIIX	Blackrock Intern Index	Pair Corr
0.95	FFFCX	Fidelity Freedom 2010	Pair Corr
0.98	CSRYX	Columbia Select Large	Pair Corr
0.93	FISVX	Fidelity Small Cap	Pair Corr
0.95	FDEGX	Fidelity Growth Stra	Pair Corr
0.92	PSHAX	Short Term Fund	Pair Corr
0.96	DCEMX	Dunham Emerging Markets	Pair Corr
0.95	SPSDX	Sterling Capital Beh	Pair Corr
0.96	RIVKX	American Funds Inter	Pair Corr
0.62	IBM	International Business	Pair Corr

Moving against Franklin Mutual Fund

0.54	MCD	McDonalds	Pair Corr
0.36	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	FPRIX	FPRTX	TEBIX	TEDSX	TEDRX	TEFAX	FHAIX	TEMEX	TEMIX
FPRIX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	FPRIX
FPRTX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FPRTX
TEBIX	0.0	0.0		0.99	0.99	0.0	0.96	1.0	0.98	TEBIX
TEDSX	0.0	0.0	0.99		1.0	0.0	0.96	0.99	0.98	TEDSX
TEDRX	0.0	0.0	0.99	1.0		0.0	0.96	0.99	0.98	TEDRX
TEFAX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TEFAX
FHAIX	0.0	0.0	0.96	0.96	0.96	0.0		0.96	0.95	FHAIX
TEMEX	0.0	0.0	1.0	0.99	0.99	0.0	0.96		0.98	TEMEX
TEMIX	0.0	0.0	0.98	0.98	0.98	0.0	0.95	0.98		TEMIX
	FPRIX	FPRTX	TEBIX	TEDSX	TEDRX	TEFAX	FHAIX	TEMEX	TEMIX

Click cells to compare fundamentals

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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

TEMEX	+ 1.0	TEBIX
TEDRX	+ 1.0	TEDSX
TEDSX	+ 0.99	TEBIX
TEDRX	+ 0.99	TEBIX
TEMEX	+ 0.99	TEDSX
TEMEX	+ 0.99	TEDRX

High negative correlations

TEMIX	- 0.0	TEFAX
TEMEX	- 0.0	TEFAX
FHAIX	- 0.0	TEFAX
TEFAX	- 0.0	TEDRX
TEFAX	- 0.0	TEDSX
TEFAX	- 0.0	TEBIX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Mutual 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 Mutual'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FPRIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FPRTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TEBIX	0.53	0.05	(0.06)	0.29	0.40	(0.59)	1.37	(1.12)	3.58
TEDSX	0.48	0.02	(0.10)	0.25	0.51	(0.50)	1.14	(1.32)	3.25
TEDRX	0.50	0.05	(0.06)	0.29	0.48	(0.53)	1.14	(1.33)	3.24
TEFAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FHAIX	0.18	0.03	0.00	0.45	0.00	0.00	0.58	(0.56)	1.75
TEMEX	0.53	0.05	(0.06)	0.29	0.44	(0.60)	1.36	(1.05)	3.60
TEMIX	0.55	0.09	(0.03)	0.41	0.36	(0.65)	1.24	(1.14)	3.11

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