Franklin High Correlations

Mutual Funds . USA . 
Fund . Franklin High Income
FCHIX Fund  USD 1.82  0.00  0.00%   
The current 90-days correlation between Franklin High Income and Aqr Managed Futures is 0.23 (i.e., Modest diversification). The correlation of Franklin High 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 High Correlation With Market

Almost no diversification

The correlation between Franklin High Income and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin High Income 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 High Income. 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 gross domestic product.

Moving together with Franklin Mutual Fund

  0.94TEBIX Franklin Mutual BeaconPairCorr
  0.95TEDIX Franklin Mutual GlobalPairCorr
  0.95TEFRX Templeton ForeignPairCorr
  0.95TEFTX Templeton ForeignPairCorr
  0.82TEGBX Templeton Global BondPairCorr
  0.88TEGRX Templeton GrowthPairCorr
  0.95TEMFX Templeton ForeignPairCorr
  0.95TEMGX Templeton Global SmallerPairCorr
  0.94TEMEX Franklin Mutual BeaconPairCorr
  0.82TEMMX Templeton EmergingPairCorr
  0.95TEMIX Franklin Mutual EuropeanPairCorr
  0.89TEMWX Templeton WorldPairCorr
  0.95TEMTX Franklin Mutual SharesPairCorr
  0.93TEMQX Mutual QuestPairCorr
  0.61PFICX Putnam Floating RatePairCorr
  0.79FQCTX Franklin Necticut TaxPairCorr
  0.94SAIFX Clearbridge Large CapPairCorr
  0.69SAGYX Clearbridge AggressivePairCorr
  0.82TEMZX Templeton EmergingPairCorr
  0.87FQCHX Franklin Templeton SmacsPairCorr
  0.9FQEMX Franklin Templeton SmacsPairCorr
  0.93TEQIX Franklin Mutual QuestPairCorr
  0.96TEPLX Templeton GrowthPairCorr
  0.9TWDAX Templeton WorldPairCorr
  0.96TESIX Franklin Mutual SharesPairCorr
  0.95TESGX Templeton Global SmallerPairCorr
  0.96TESRX Franklin Mutual SharesPairCorr
  0.68PFLRX Putnam Floating RatePairCorr
  0.94LGGAX Clearbridge InternationalPairCorr
  0.95TEURX Franklin Mutual EuropeanPairCorr
  0.95LGIEX Qs International EquityPairCorr
  0.84FQLAX Franklin Louisiana TaxPairCorr
  0.88TEWTX Templeton WorldPairCorr
  0.83SAPYX Clearbridge AppreciationPairCorr
  0.86SASMX Clearbridge Small CapPairCorr
  0.84FQNCX Franklin North CarolinaPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin High 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 High'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.

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