Franklin Utilities Correlations

FUFRX Fund

USD 24.88 0.45 1.84%

The current 90-days correlation between Franklin Utilities and Putnam Convertible Securities 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

0.92	D	Dominion Energy	Pair Corr
0.83	ES	Eversource Energy Earnings Call This Week	Pair Corr
0.63	HE	Hawaiian Electric	Pair Corr
0.7	NI	NiSource	Pair Corr
0.63	RNWWW	ReNew Energy Global	Pair Corr
0.71	ELPC	Companhia Paranaense	Pair Corr
0.79	ENLT	Enlight Renewable Energy	Pair Corr
0.72	AQN	Algonquin Power Utilities	Pair Corr
0.79	BEP	Brookfield Renewable	Pair Corr
0.79	BIP	Brookfield Infrastructure	Pair Corr
0.85	CEG	Constellation Energy Corp	Pair Corr
0.8	CIG	Companhia Energetica	Pair Corr
0.8	DTW	DTE Energy	Pair Corr

Moving against Franklin Mutual Fund

0.73	ED	Consolidated Edison	Pair Corr
0.58	WTRG	Essential Utilities	Pair Corr
0.69	CWT	California Water Service	Pair Corr
0.63	AVA	Avista	Pair Corr
0.6	EXC	Exelon	Pair Corr
0.57	CPK	Chesapeake Utilities	Pair Corr
0.54	BKH	Black Hills	Pair Corr
0.49	EDN	Empresa Distribuidora	Pair Corr
0.49	HTO	H2O America Symbol Change	Pair Corr
0.45	EIX	Edison International Earnings Call This Week	Pair Corr
0.44	AWR	American States Water	Pair Corr
0.37	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.33	AWK	American Water Works	Pair Corr

Related Correlations Analysis

	PCNTX	XNCVX	XAVKX	VAADX	PBXIX	CCD
PCNTX		0.99	0.99	0.99	0.91	-0.14	PCNTX
XNCVX	0.99		0.98	1.0	0.9	-0.2	XNCVX
XAVKX	0.99	0.98		0.98	0.91	-0.1	XAVKX
VAADX	0.99	1.0	0.98		0.9	-0.19	VAADX
PBXIX	0.91	0.9	0.91	0.9		0.16	PBXIX
CCD	-0.14	-0.2	-0.1	-0.19	0.16		CCD
	PCNTX	XNCVX	XAVKX	VAADX	PBXIX	CCD

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VAADX	+ 1.0	XNCVX
XNCVX	+ 0.99	PCNTX
XAVKX	+ 0.99	PCNTX
VAADX	+ 0.99	PCNTX
XAVKX	+ 0.98	XNCVX
VAADX	+ 0.98	XAVKX

High negative correlations

CCD	- 0.2	XNCVX
CCD	- 0.19	VAADX
CCD	- 0.14	PCNTX
CCD	- 0.1	XAVKX

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
PCNTX	0.44	0.22	0.16	(2.50)	0.00	(0.55)	1.06	(0.53)	3.21
XNCVX	0.47	0.25	0.20	(16.50)	0.00	(0.66)	1.33	(0.78)	3.12
XAVKX	0.57	0.22	0.10	(2.27)	0.41	(0.67)	1.65	(1.32)	4.13
VAADX	0.42	0.24	0.18	(4.51)	0.00	(0.53)	1.20	(0.81)	2.65
PBXIX	0.35	0.03	(0.08)	0.21	0.29	(0.43)	0.83	(0.54)	2.63
CCD	0.62	(0.02)	(0.10)	0.09	0.83	(0.65)	1.32	(1.03)	4.97

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