Franklin Dynatech Correlations

FDNRX Fund

USD 165.47 2.56 1.52%

The current 90-days correlation between Franklin Dynatech and Franklin Mutual Beacon is 0.12 (i.e., Average diversification). The correlation of Franklin Dynatech 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 Dynatech Correlation With Market

Good diversification

The correlation between Franklin Dynatech Fund and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Dynatech 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 Dynatech 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.

Related Correlations Analysis

	TEBIX	TEDMX	TEDIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMFX
TEBIX		0.63	0.98	0.97	0.97	0.68	0.69	0.94	0.89	0.68	TEBIX
TEDMX	0.63		0.53	0.53	0.52	0.95	0.94	0.71	0.67	0.95	TEDMX
TEDIX	0.98	0.53		1.0	1.0	0.55	0.57	0.92	0.81	0.55	TEDIX
TEDSX	0.97	0.53	1.0		1.0	0.55	0.56	0.92	0.81	0.54	TEDSX
TEDRX	0.97	0.52	1.0	1.0		0.54	0.56	0.92	0.81	0.54	TEDRX
TEFRX	0.68	0.95	0.55	0.55	0.54		1.0	0.69	0.76	1.0	TEFRX
TEFTX	0.69	0.94	0.57	0.56	0.56	1.0		0.7	0.77	1.0	TEFTX
TEGBX	0.94	0.71	0.92	0.92	0.92	0.69	0.7		0.84	0.69	TEGBX
TEGRX	0.89	0.67	0.81	0.81	0.81	0.76	0.77	0.84		0.76	TEGRX
TEMFX	0.68	0.95	0.55	0.54	0.54	1.0	1.0	0.69	0.76		TEMFX
	TEBIX	TEDMX	TEDIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMFX

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Dynatech 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 Dynatech'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	0.53	(0.02)	0.00	(0.06)	0.00	0.00	1.04	(1.00)	4.00
TEDMX	0.64	0.08	0.10	0.22	0.68	(0.75)	1.46	(1.59)	3.59
TEDIX	0.57	(0.05)	0.00	(0.13)	0.00	0.00	0.86	(0.89)	8.25
TEDSX	0.57	(0.05)	0.00	(0.13)	0.00	0.00	0.84	(0.88)	8.14
TEDRX	0.57	(0.05)	0.00	(0.14)	0.00	0.00	0.87	(0.91)	8.37
TEFRX	0.68	0.09	0.09	0.17	0.83	(0.72)	1.48	(1.29)	3.93
TEFTX	0.68	0.09	0.09	0.16	0.82	(0.74)	1.43	(1.25)	3.93
TEGBX	0.38	0.02	0.04	(1.66)	0.40	(0.48)	0.74	(0.76)	2.13
TEGRX	0.53	(0.01)	0.00	(0.03)	0.00	0.00	0.92	(1.45)	3.24
TEMFX	0.68	0.09	0.10	0.17	0.79	(0.76)	1.44	(1.25)	3.96

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Franklin Dynatech Correlations

Franklin Dynatech Correlation With Market

Good diversification

Related Correlations Analysis

Risk-Adjusted Indicators

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