Franklin Utilities Correlations

Mutual Funds USA . 
Fund . Franklin Utilities Fund
FRURX Fund  USD 24.78  0.30  1.23%   
The current 90-days correlation between Franklin Utilities and T Rowe Price is -0.18 (i.e., Good 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 metropolitan statistical area.

Moving together with Franklin Mutual Fund

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  0.61ELLO Ellomay CapitalPairCorr
  0.62ELPC Companhia ParanaensePairCorr
  0.79ENLT Enlight Renewable EnergyPairCorr
  0.62AQN Algonquin Power UtilitiesPairCorr
  0.78BEP Brookfield RenewablePairCorr
  0.7BIP Brookfield InfrastructurePairCorr
  0.8CEG Constellation Energy CorpPairCorr
  0.7CIG Companhia EnergeticaPairCorr
  0.79DTW DTE EnergyPairCorr

Moving against Franklin Mutual Fund

  0.58ED Consolidated EdisonPairCorr
  0.54WTRG Essential UtilitiesPairCorr
  0.64CWT California Water Service Earnings Call This WeekPairCorr
  0.57AVA AvistaPairCorr
  0.56CPK Chesapeake UtilitiesPairCorr
  0.54EDN Empresa DistribuidoraPairCorr
  0.48EXC Exelon Earnings Call This WeekPairCorr
  0.48HTO H2O America Symbol ChangePairCorr
  0.47AWR American States WaterPairCorr
  0.42BKH Black Hills Earnings Call This WeekPairCorr
  0.4EIX Edison International Earnings Call TodayPairCorr
  0.35EBR Centrais ElectricasPairCorr

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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