Franklin Small Correlations

Mutual Funds USA . 
Fund . Franklin Small Cap
FSMLX Fund  USD 26.79  0.09  0.33%   
The current 90-days correlation between Franklin Small Cap and Franklin Mutual Beacon is -0.1 (i.e., Good diversification). The correlation of Franklin Small 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 Small Correlation With Market

Very poor diversification

The correlation between Franklin Small Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Small Cap 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 Small Cap. 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 bureau of economic analysis.

Moving together with Franklin Mutual Fund

  0.97TEBIX Franklin Mutual BeaconPairCorr
  0.95TEDMX Templeton DevelopingPairCorr
  0.96TEDIX Franklin Mutual GlobalPairCorr
  0.96TEDSX Franklin Mutual GlobalPairCorr
  0.98TEDRX Franklin Mutual GlobalPairCorr
  0.98TEFRX Templeton ForeignPairCorr
  0.96TEFTX Templeton ForeignPairCorr
  0.88TEGBX Templeton Global BondPairCorr
  0.98TEGRX Templeton GrowthPairCorr
  0.96TEMFX Templeton ForeignPairCorr
  0.96TEMGX Templeton Global SmallerPairCorr
  0.97TEMEX Franklin Mutual BeaconPairCorr
  0.96TEMMX Templeton EmergingPairCorr
  0.97TEMIX Franklin Mutual EuropeanPairCorr
  0.96TEMWX Templeton WorldPairCorr
  0.95TEMTX Franklin Mutual SharesPairCorr
  0.98TEMQX Mutual QuestPairCorr
  0.94SAIFX Clearbridge Large CapPairCorr
  0.99SAGYX Clearbridge AggressivePairCorr
  0.98TEMZX Templeton EmergingPairCorr
  0.92FQEMX Franklin Templeton SmacsPairCorr
  0.98TEQIX Franklin Mutual QuestPairCorr
  0.96TEPLX Templeton GrowthPairCorr
  0.98TWDAX Templeton WorldPairCorr
  0.95TESIX Franklin Mutual SharesPairCorr
  0.98TESGX Templeton Global SmallerPairCorr
  0.95TESRX Franklin Mutual SharesPairCorr
  0.92LGGAX Clearbridge InternationalPairCorr
  0.97TEURX Franklin Mutual EuropeanPairCorr
  0.94LGIEX Qs International EquityPairCorr
  0.96TEWTX Templeton WorldPairCorr
  0.98SAPYX Clearbridge AppreciationPairCorr
  0.97SASMX Clearbridge Small CapPairCorr
  0.91WAADX Western Asset SmashPairCorr
  0.78WAARX 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 Small 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 Small'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TEBIX  0.57  0.20  0.08 (2.03) 0.43 
(0.63)
 1.43 
(1.12)
 3.58 
TEDMX  0.59  0.31  0.25 (21.71) 0.00 
(0.75)
 1.58 
(1.27)
 4.48 
TEDIX  0.51  0.18  0.05 (2.16) 0.46 
(0.54)
 1.12 
(1.33)
 3.32 
TEDSX  0.51  0.18  0.05 (1.98) 0.46 
(0.54)
 1.15 
(1.32)
 3.37 
TEDRX  0.51  0.07  0.02  0.24  0.51 
(0.53)
 1.12 
(1.33)
 3.36 
TEFRX  0.66  0.14  0.11  0.37  0.46 
(0.82)
 1.76 
(1.39)
 4.25 
TEFTX  0.66  0.25  0.13 (2.34) 0.45 
(0.83)
 1.71 
(1.35)
 4.24 
TEGBX  0.34  0.08 (0.11) 4.98  0.16 
(0.47)
 0.88 
(0.43)
 2.11 
TEGRX  0.54  0.16  0.16  0.35  0.25 
(0.62)
 1.83 
(1.01)
 3.53 
TEMFX  0.67  0.25  0.14 (2.22) 0.41 
(0.81)
 1.72 
(1.35)
 4.14 

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