Franklin Utilities Correlations
FRURX Fund | USD 24.62 0.16 0.65% |
The current 90-days correlation between Franklin Utilities and Schwab Small Cap Index is 0.35 (i.e., Weak 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 0.49 (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.
Franklin |
Moving together with Franklin Mutual Fund
0.92 | D | Dominion Energy | PairCorr |
0.7 | ES | Eversource Energy Earnings Call This Week | PairCorr |
0.65 | NI | NiSource Earnings Call This Week | PairCorr |
0.64 | SO | Southern Earnings Call This Week | PairCorr |
0.79 | ENLT | Enlight Renewable Energy | PairCorr |
0.63 | AES | AES Earnings Call This Week | PairCorr |
0.73 | AQN | Algonquin Power Utilities | PairCorr |
0.77 | BEP | Brookfield Renewable | PairCorr |
0.64 | BIP | Brookfield Infrastructure Earnings Call This Week | PairCorr |
0.75 | CEG | Constellation Energy Corp | PairCorr |
0.67 | CIG | Companhia Energetica | PairCorr |
0.76 | DTW | DTE Energy | PairCorr |
Moving against Franklin Mutual Fund
0.54 | ED | Consolidated Edison | PairCorr |
0.53 | WTRG | Essential Utilities | PairCorr |
0.32 | FE | FirstEnergy Earnings Call This Week | PairCorr |
0.68 | CWT | California Water Service Earnings Call This Week | PairCorr |
0.56 | EDN | Empresa Distribuidora | PairCorr |
0.55 | AVA | Avista | PairCorr |
0.51 | AWR | American States Water | PairCorr |
0.5 | HTO | H2O America Symbol Change | PairCorr |
0.49 | EBR | Centrais Electricas | PairCorr |
0.44 | CPK | Chesapeake Utilities | PairCorr |
0.44 | EXC | Exelon Earnings Call This Week | PairCorr |
0.41 | BKH | Black Hills Earnings Call This Week | PairCorr |
0.38 | EIX | Edison International | PairCorr |
Related Correlations Analysis
0.98 | 0.94 | 0.94 | 0.95 | SWSSX | ||
0.98 | 0.96 | 0.95 | 0.97 | EKBDX | ||
0.94 | 0.96 | 0.96 | 0.95 | PRDMX | ||
0.94 | 0.95 | 0.96 | 0.93 | FZABX | ||
0.95 | 0.97 | 0.95 | 0.93 | QDARX | ||
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
SWSSX | 0.92 | 0.07 | 0.10 | 0.27 | 0.77 | 2.30 | 6.24 | |||
EKBDX | 0.63 | 0.18 | 0.17 | 0.44 | 0.00 | 1.96 | 4.51 | |||
PRDMX | 0.88 | 0.39 | 0.12 | (1.07) | 0.67 | 2.59 | 5.92 | |||
FZABX | 0.54 | 0.10 | 0.00 | 0.41 | 0.31 | 1.41 | 3.36 | |||
QDARX | 0.07 | 0.00 | (1.50) | 0.00 | 0.00 | 0.16 | 0.56 |