Franklin Mutual Correlations

TEMEX Fund

USD 18.46 0.09 0.49%

The current 90-days correlation between Franklin Mutual Beacon and Franklin Mutual Beacon is 1.0 (i.e., No risk reduction). The correlation of Franklin Mutual 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 Mutual Correlation With Market

Significant diversification

The correlation between Franklin Mutual Beacon and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Mutual Beacon and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Franklin Mutual Beacon. 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 services.

Moving together with Franklin Mutual Fund

1.0	TEBIX	Franklin Mutual Beacon	Pair Corr
0.7	TEDMX	Templeton Developing	Pair Corr
0.7	TEDIX	Franklin Mutual Global	Pair Corr
0.7	TEDSX	Franklin Mutual Global	Pair Corr
0.63	TEDRX	Franklin Mutual Global	Pair Corr
0.67	TEFRX	Templeton Foreign	Pair Corr
0.66	TEFTX	Templeton Foreign	Pair Corr
0.72	TEGRX	Templeton Growth	Pair Corr
0.67	TEMFX	Templeton Foreign	Pair Corr
0.77	TEMIX	Franklin Mutual European	Pair Corr
0.67	TEMWX	Templeton World	Pair Corr
0.65	FQCTX	Franklin Necticut Tax	Pair Corr
0.62	FQCHX	Franklin Templeton Smacs	Pair Corr
0.69	FQEMX	Franklin Templeton Smacs	Pair Corr
0.72	TEPLX	Templeton Growth	Pair Corr
0.62	TWDAX	Templeton World	Pair Corr
0.63	LGGAX	Clearbridge International	Pair Corr
0.63	TEURX	Franklin Mutual European	Pair Corr
0.62	LGIEX	Qs International Equity	Pair Corr
0.63	FQLAX	Franklin Louisiana Tax	Pair Corr
0.66	TEWTX	Templeton World	Pair Corr
0.64	FQNCX	Franklin North Carolina	Pair Corr
0.62	FQMDX	Franklin Maryland Tax	Pair Corr

Moving against Franklin Mutual Fund

0.45	TEMGX	Templeton Global Smaller	Pair Corr
0.33	TEMTX	Franklin Mutual Shares	Pair Corr
0.53	TESGX	Templeton Global Smaller	Pair Corr
0.31	TESRX	Franklin Mutual Shares	Pair Corr

Related Correlations Analysis

	TEBIX	TEDMX	TEDIX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMGX	TEMEX
TEBIX		0.71	0.71	0.63	0.68	0.67	0.39	0.73	-0.47	1.0	TEBIX
TEDMX	0.71		0.77	0.71	0.77	0.76	0.59	0.92	-0.59	0.7	TEDMX
TEDIX	0.71	0.77		0.92	0.95	0.95	0.49	0.87	-0.3	0.7	TEDIX
TEDRX	0.63	0.71	0.92		0.88	0.88	0.55	0.77	-0.35	0.63	TEDRX
TEFRX	0.68	0.77	0.95	0.88		1.0	0.52	0.86	-0.27	0.67	TEFRX
TEFTX	0.67	0.76	0.95	0.88	1.0		0.52	0.85	-0.26	0.66	TEFTX
TEGBX	0.39	0.59	0.49	0.55	0.52	0.52		0.57	-0.04	0.39	TEGBX
TEGRX	0.73	0.92	0.87	0.77	0.86	0.85	0.57		-0.34	0.72	TEGRX
TEMGX	-0.47	-0.59	-0.3	-0.35	-0.27	-0.26	-0.04	-0.34		-0.45	TEMGX
TEMEX	1.0	0.7	0.7	0.63	0.67	0.66	0.39	0.72	-0.45		TEMEX
	TEBIX	TEDMX	TEDIX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMGX	TEMEX

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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

TEMEX	+ 1.0	TEBIX
TEFTX	+ 1.0	TEFRX
TEFRX	+ 0.95	TEDIX
TEFTX	+ 0.95	TEDIX
TEGRX	+ 0.92	TEDMX
TEDRX	+ 0.92	TEDIX

High negative correlations

TEMGX	- 0.59	TEDMX
TEMGX	- 0.47	TEBIX
TEMEX	- 0.45	TEMGX
TEMGX	- 0.35	TEDRX
TEMGX	- 0.34	TEGRX
TEMGX	- 0.3	TEDIX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Mutual 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 Mutual'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TEBIX	0.49	0.02	(0.03)	2.50	0.54	(0.57)	0.93	(1.04)	3.54
TEDMX	0.76	0.14	0.10	4.03	0.88	(0.85)	1.54	(1.13)	5.14
TEDIX	0.50	0.00	(0.05)	0.06	0.68	(0.48)	1.03	(1.10)	4.23
TEDRX	0.52	0.01	(0.01)	0.05	0.65	(0.52)	1.08	(1.13)	4.23
TEFRX	0.60	(0.01)	0.00	0.50	0.00	0.00	1.12	(1.32)	4.28
TEFTX	0.60	(0.02)	0.00	0.44	0.00	0.00	1.09	(1.28)	4.38
TEGBX	0.26	0.00	(0.08)	0.04	0.28	(0.33)	0.56	(0.55)	1.69
TEGRX	0.56	0.01	(0.04)	(0.21)	0.81	(0.54)	1.06	(1.25)	4.29
TEMGX	0.62	(0.11)	0.00	2.35	0.00	0.00	1.03	(1.12)	5.45
TEMEX	0.49	0.02	(0.04)	3.93	0.55	(0.55)	0.94	(1.03)	3.51

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