Franklin California Correlations

Mutual Funds . USA . 
Fund . Franklin California Intermediate Term
FRCZX Fund  USD 10.73  0.02  0.19%   
The current 90-days correlation between Franklin California and Adams Natural Resources is 0.1 (i.e., Average diversification). The correlation of Franklin California 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 California Correlation With Market

Modest diversification

The correlation between Franklin California Intermedia and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin California Intermedia 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 California Intermediate Term. 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 nation.

Moving together with Franklin Mutual Fund

  0.89TEBIX Franklin Mutual BeaconPairCorr
  0.86TEDMX Templeton DevelopingPairCorr
  0.89TEDIX Franklin Mutual GlobalPairCorr
  0.89TEDSX Franklin Mutual GlobalPairCorr
  0.89TEDRX Franklin Mutual GlobalPairCorr
  0.87TEFRX Templeton ForeignPairCorr
  0.87TEFTX Templeton ForeignPairCorr
  0.85TEGBX Templeton Global BondPairCorr
  0.88TEGRX Templeton GrowthPairCorr
  0.87TEMFX Templeton ForeignPairCorr
  0.88TEMGX Templeton Global SmallerPairCorr
  0.89TEMEX Franklin Mutual BeaconPairCorr
  0.86TEMMX Templeton EmergingPairCorr
  0.87TEMIX Franklin Mutual EuropeanPairCorr
  0.89TEMWX Templeton WorldPairCorr
  0.89TEMTX Franklin Mutual SharesPairCorr
  0.89TEMQX Mutual QuestPairCorr
  0.85FQCTX Franklin Necticut TaxPairCorr
  0.88SAIFX Clearbridge Large CapPairCorr
  0.88SAGYX Clearbridge AggressivePairCorr
  0.86TEMZX Templeton EmergingPairCorr
  0.62FQCHX Franklin Templeton SmacsPairCorr
  0.84FQEMX Franklin Templeton SmacsPairCorr
  0.89TEQIX Franklin Mutual QuestPairCorr
  0.88TEPLX Templeton GrowthPairCorr
  0.89TWDAX Templeton WorldPairCorr
  0.89TESIX Franklin Mutual SharesPairCorr
  0.88TESGX Templeton Global SmallerPairCorr
  0.89TESRX Franklin Mutual SharesPairCorr
  0.82LGGAX Clearbridge InternationalPairCorr
  0.86TEURX Franklin Mutual EuropeanPairCorr
  0.85LGIEX Qs International EquityPairCorr
  0.66FQLAX Franklin Louisiana TaxPairCorr
  0.89TEWTX Templeton WorldPairCorr
  0.88SAPYX Clearbridge AppreciationPairCorr
  0.88SASMX Clearbridge Small CapPairCorr
  0.85FQNCX Franklin North CarolinaPairCorr
  0.8WAADX Western Asset SmashPairCorr
  0.82WAARX 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 California 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 California'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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