Franklin Income Correlations

Mutual Funds USA . 
Fund . Franklin Income
FKIQX Fund  USD 2.58  0.01  0.39%   
The current 90-days correlation between Franklin Income and Templeton Growth Fund is 0.11 (i.e., Average diversification). The correlation of Franklin Income 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 Income Correlation With Market

Very poor diversification

The correlation between Franklin Income and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin 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 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 producer price index.

Moving together with Franklin Mutual Fund

  0.98PEYAX Putnam Equity IncomePairCorr
  0.99TEBIX Franklin Mutual BeaconPairCorr
  0.96TEDMX Templeton DevelopingPairCorr
  0.98TEDIX Franklin Mutual GlobalPairCorr
  0.98TEDSX Franklin Mutual GlobalPairCorr
  0.97TEDRX Franklin Mutual GlobalPairCorr
  0.97TEFRX Templeton ForeignPairCorr
  0.98TEFTX Templeton ForeignPairCorr
  0.92TEGBX Templeton Global BondPairCorr
  0.8TEGRX Templeton GrowthPairCorr
  0.98TEMFX Templeton ForeignPairCorr
  0.98TEMGX Templeton Global SmallerPairCorr
  0.99TEMEX Franklin Mutual BeaconPairCorr
  0.93TEMMX Templeton EmergingPairCorr
  0.98TEMIX Franklin Mutual EuropeanPairCorr
  0.75TEMWX Templeton WorldPairCorr
  0.96TEMTX Franklin Mutual SharesPairCorr
  0.98TEMQX Mutual QuestPairCorr
  0.89FQCTX Franklin Necticut TaxPairCorr
  0.89SAIFX Clearbridge Large CapPairCorr
  0.93TEMZX Templeton EmergingPairCorr
  0.9FQCHX Franklin Templeton SmacsPairCorr
  0.96FQEMX Franklin Templeton Smacs Steady GrowthPairCorr
  0.99TEQIX Franklin Mutual QuestPairCorr
  0.91TEPLX Templeton GrowthPairCorr
  0.78TWDAX Templeton WorldPairCorr
  0.94TESIX Franklin Mutual SharesPairCorr
  0.96TESGX Templeton Global SmallerPairCorr
  0.93TESRX Franklin Mutual SharesPairCorr
  0.91LGGAX Clearbridge InternationalPairCorr
  0.98TEURX Franklin Mutual EuropeanPairCorr
  0.93LGIEX Qs International EquityPairCorr
  0.92FQLAX Franklin Louisiana TaxPairCorr
  0.73TEWTX Templeton WorldPairCorr
  0.74SAPYX Clearbridge AppreciationPairCorr
  0.78SASMX Clearbridge Small CapPairCorr
  0.91FQNCX Franklin North CarolinaPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Income 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 Income'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PEYAX  0.55  0.16  0.05 (1.50) 0.46 
(0.60)
 1.38 
(1.09)
 3.29 
TEBIX  0.47  0.17  0.11 (1.93) 0.00 
(0.58)
 1.20 
(0.80)
 2.90 
TEDMX  0.75  0.36  0.27 (2.63) 0.30 
(0.85)
 1.99 
(1.18)
 3.95 
TEDIX  0.49  0.18  0.10 (2.08) 0.30 
(0.54)
 1.20 
(0.89)
 3.62 
TEDSX  0.48  0.18  0.09 (2.16) 0.31 
(0.53)
 1.21 
(0.88)
 3.60 
TEDRX  0.46  0.11  0.13  0.29  0.14 
(0.53)
 1.22 
(0.63)
 3.63 
TEFRX  0.57  0.15  0.14  0.31  0.37 
(0.66)
 1.58 
(0.99)
 4.00 
TEFTX  0.59  0.24  0.11 (0.94) 0.47 
(0.67)
 1.53 
(1.44)
 3.98 
TEGBX  0.29  0.05 (0.11) 0.47  0.09 
(0.40)
 0.68 
(0.42)
 2.16 
TEGRX  0.78  0.32  0.33  0.76  0.00 
(0.99)
 1.30 
(0.94)
 16.99 

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