Franklin Gold Correlations

FGADX Fund

USD 23.00 0.59 2.50%

The current 90-days correlation between Franklin Gold Precious and Saat Moderate Strategy is 0.45 (i.e., Very weak diversification). The correlation of Franklin Gold 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 Gold Correlation With Market

Average diversification

The correlation between Franklin Gold Precious and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Gold Precious 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 Gold Precious. 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 unemployment.

Moving together with Franklin Mutual Fund

0.67	TEDMX	Templeton Developing	Pair Corr
0.67	FQEMX	Franklin Templeton Smacs	Pair Corr
0.68	FQTEX	Franklin Strategic Series	Pair Corr

Moving against Franklin Mutual Fund

0.31

FQMDX

Franklin Maryland Tax

Pair Corr

Related Correlations Analysis

	SMOAX	TCTZX	PGFCX	BIMPX	FRTCX	RERPX
SMOAX		0.81	0.84	0.79	0.79	0.82	SMOAX
TCTZX	0.81		0.93	0.96	0.98	0.92	TCTZX
PGFCX	0.84	0.93		0.9	0.96	0.89	PGFCX
BIMPX	0.79	0.96	0.9		0.94	0.9	BIMPX
FRTCX	0.79	0.98	0.96	0.94		0.91	FRTCX
RERPX	0.82	0.92	0.89	0.9	0.91		RERPX
	SMOAX	TCTZX	PGFCX	BIMPX	FRTCX	RERPX

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Gold 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 Gold'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
SMOAX	0.20	(0.02)	(0.44)	0.02	0.19	(0.24)	0.34	(0.42)	1.10
TCTZX	0.26	0.01	(0.28)	0.45	0.28	(0.27)	0.60	(0.60)	1.47
PGFCX	0.23	0.02	(0.31)	0.57	0.19	(0.28)	0.48	(0.48)	1.43
BIMPX	0.25	0.00	(0.32)	0.08	0.25	(0.36)	0.68	(0.60)	1.58
FRTCX	0.23	0.02	(0.32)	0.52	0.21	(0.25)	0.57	(0.48)	1.25
RERPX	0.27	0.01	(0.28)	0.51	0.30	(0.30)	0.55	(0.62)	1.58

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