Focused International Correlations

AFCSX Fund

USD 16.92 0.05 0.30%

The current 90-days correlation between Focused International and Franklin Moderate Allocation is 0.86 (i.e., Very poor diversification). The correlation of Focused International 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.

Focused International Correlation With Market

Very weak diversification

The correlation between Focused International Growth and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Focused International Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Focused International Growth. 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 state.

Moving together with Focused Mutual Fund

0.69	CDBCX	Diversified Bond	Pair Corr
0.69	TWACX	Short Term Government	Pair Corr
0.63	TWARX	Short Term Government	Pair Corr
0.65	TWAVX	Short Term Government	Pair Corr
0.98	TWGAX	International Growth	Pair Corr
0.98	TWIEX	International Growth	Pair Corr
0.61	TWUSX	Short Term Government	Pair Corr
0.62	TWUOX	Short Term Government	Pair Corr

Moving against Focused Mutual Fund

0.49	AMGIX	Income Growth	Pair Corr
0.45	AMEIX	Equity Growth	Pair Corr
0.45	TWADX	Value Fund A	Pair Corr
0.43	AMDVX	Mid Cap Value	Pair Corr
0.43	TWCCX	Ultra Fund C	Pair Corr
0.43	TWCIX	Select Fund Investor	Pair Corr
0.43	AMVYX	Mid Cap Value	Pair Corr
0.43	AMVGX	Mid Cap Value	Pair Corr
0.42	AMVRX	Mid Cap Value	Pair Corr
0.41	TWCGX	Growth Fund Investor	Pair Corr
0.36	TWCAX	Select Fund A	Pair Corr
0.56	TWHIX	Heritage Fund Investor	Pair Corr
0.49	TWCUX	Ultra Fund Investor	Pair Corr
0.4	TWEAX	Equity Income	Pair Corr
0.4	TWEIX	Equity Income	Pair Corr
0.37	TWSIX	Select Fund I	Pair Corr
0.36	TWGIX	Growth Fund I	Pair Corr
0.34	TWRCX	Growth Fund C	Pair Corr
0.51	TWVLX	Value Fund Investor	Pair Corr
0.44	TWUIX	Ultra Fund I	Pair Corr
0.43	TWUAX	Ultra Fund A	Pair Corr
0.42	ANONX	Small Cap Growth	Pair Corr
0.42	ANOGX	Small Cap Growth	Pair Corr
0.42	ANOHX	American Century Small	Pair Corr

Related Correlations Analysis

	FMTIX	CMACX	PGFCX	URFRX	SAMAX	JTSQX	TDIFX
FMTIX		0.84	0.68	0.89	0.84	0.98	0.72	FMTIX
CMACX	0.84		0.83	0.94	0.76	0.81	0.87	CMACX
PGFCX	0.68	0.83		0.68	0.45	0.59	0.94	PGFCX
URFRX	0.89	0.94	0.68		0.88	0.9	0.75	URFRX
SAMAX	0.84	0.76	0.45	0.88		0.86	0.45	SAMAX
JTSQX	0.98	0.81	0.59	0.9	0.86		0.64	JTSQX
TDIFX	0.72	0.87	0.94	0.75	0.45	0.64		TDIFX
	FMTIX	CMACX	PGFCX	URFRX	SAMAX	JTSQX	TDIFX

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Risk-Adjusted Indicators

There is a big difference between Focused Mutual Fund performing well and Focused International 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 Focused International'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
FMTIX	0.35	(0.03)	(0.18)	0.06	0.42	(0.36)	0.75	(0.75)	2.01
CMACX	0.35	0.01	(0.22)	0.51	0.43	(0.36)	0.72	(0.71)	2.02
PGFCX	0.22	0.01	(0.35)	0.28	0.22	(0.26)	0.48	(0.48)	1.24
URFRX	0.43	0.02	(0.16)	1.18	0.51	(0.48)	0.95	(0.80)	2.44
SAMAX	0.42	0.06	(0.10)	0.75	0.44	(0.47)	0.85	(0.83)	2.62
JTSQX	0.50	(0.04)	(0.12)	0.06	0.63	(0.52)	1.12	(0.93)	3.11
TDIFX	0.16	0.00	(0.51)	0.12	0.15	(0.18)	0.35	(0.26)	0.95

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