Franklin Utilities Correlations

Mutual Funds . USA . 
Fund . Franklin Utilities Fund
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.
  
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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  0.79ENLT Enlight Renewable EnergyPairCorr
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  0.73AQN Algonquin Power UtilitiesPairCorr
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  0.75CEG Constellation Energy CorpPairCorr
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  0.76DTW DTE EnergyPairCorr

Moving against Franklin Mutual Fund

  0.54ED Consolidated EdisonPairCorr
  0.53WTRG Essential UtilitiesPairCorr
  0.32FE FirstEnergy Earnings Call This WeekPairCorr
  0.68CWT California Water Service Earnings Call This WeekPairCorr
  0.56EDN Empresa DistribuidoraPairCorr
  0.55AVA AvistaPairCorr
  0.51AWR American States WaterPairCorr
  0.5HTO H2O America Symbol ChangePairCorr
  0.49EBR Centrais ElectricasPairCorr
  0.44CPK Chesapeake UtilitiesPairCorr
  0.44EXC Exelon Earnings Call This WeekPairCorr
  0.41BKH Black Hills Earnings Call This WeekPairCorr
  0.38EIX Edison InternationalPairCorr

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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