Franklin Income Correlations

FKIQX Fund

USD 2.55 0.01 0.39%

The current 90-days correlation between Franklin Income and Health Care Fund is 0.16 (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

Almost no diversification

The correlation between Franklin Income and DJI is 0.9 (i.e., Almost no 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 small area income & poverty estimates.

Moving together with Franklin Mutual Fund

0.98	PEYAX	Putnam Equity Income	Pair Corr
0.95	TEBIX	Franklin Mutual Beacon	Pair Corr
0.85	TEDMX	Templeton Developing	Pair Corr
0.98	TEDIX	Franklin Mutual Global	Pair Corr
0.93	TEDSX	Franklin Mutual Global	Pair Corr
0.93	TEDRX	Franklin Mutual Global	Pair Corr
0.95	TEFRX	Templeton Foreign	Pair Corr
0.95	TEFTX	Templeton Foreign	Pair Corr
0.79	TEGBX	Templeton Global Bond	Pair Corr
0.9	TEGRX	Templeton Growth	Pair Corr
0.95	TEMFX	Templeton Foreign	Pair Corr
0.97	TEMGX	Templeton Global Smaller	Pair Corr
0.95	TEMEX	Franklin Mutual Beacon	Pair Corr
0.98	TEMIX	Franklin Mutual European	Pair Corr
0.98	TEMTX	Franklin Mutual Shares	Pair Corr
0.98	TEMQX	Mutual Quest	Pair Corr
0.78	FQCTX	Franklin Necticut Tax	Pair Corr
0.9	SAIFX	Clearbridge Large Cap	Pair Corr
0.79	SAGYX	Clearbridge Aggressive	Pair Corr
0.82	TEMZX	Templeton Emerging	Pair Corr
0.92	TEPLX	Templeton Growth	Pair Corr
0.96	TESIX	Franklin Mutual Shares	Pair Corr
0.96	TESGX	Templeton Global Smaller	Pair Corr
0.95	TESRX	Franklin Mutual Shares	Pair Corr
0.92	LGGAX	Clearbridge International	Pair Corr
0.93	LGIEX	Qs International Equity	Pair Corr
0.88	FQLAX	Franklin Louisiana Tax	Pair Corr
0.88	SAPYX	Clearbridge Appreciation	Pair Corr
0.9	SASMX	Clearbridge Small Cap	Pair Corr
0.84	FQNCX	Franklin North Carolina	Pair Corr
0.98	FQTEX	Franklin Strategic Series	Pair Corr
0.69	WACPX	Western Asset E	Pair Corr
0.7	WABAX	Western Asset E	Pair Corr
0.93	LGVAX	Clearbridge Value Trust	Pair Corr
0.95	TFESX	International Equity	Pair Corr
0.87	TFEQX	International Equity	Pair Corr
0.95	TFFAX	Templeton Foreign	Pair Corr
0.92	SBBAX	Qs Servative Growth	Pair Corr
0.93	SBCPX	Qs Defensive Growth	Pair Corr

Moving against Franklin Mutual Fund

0.71

PGEOX

George Putnam

Pair Corr

Related Correlations Analysis

	DLHAX	THQ	AHSCX	SBHIX	LOGSX	RYHCX
DLHAX		0.87	0.86	0.86	0.75	0.88	DLHAX
THQ	0.87		0.9	0.91	0.87	0.95	THQ
AHSCX	0.86	0.9		0.91	0.91	0.92	AHSCX
SBHIX	0.86	0.91	0.91		0.95	0.96	SBHIX
LOGSX	0.75	0.87	0.91	0.95		0.93	LOGSX
RYHCX	0.88	0.95	0.92	0.96	0.93		RYHCX
	DLHAX	THQ	AHSCX	SBHIX	LOGSX	RYHCX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DLHAX	0.95	0.24	0.23	0.70	0.59	(1.20)	2.06	(1.46)	10.20
THQ	0.80	0.08	0.07	0.15	0.83	(0.87)	2.23	(1.40)	5.79
AHSCX	0.86	0.10	0.07	0.27	0.86	(1.08)	2.10	(1.83)	5.46
SBHIX	0.65	0.15	0.14	0.42	0.52	(0.75)	1.69	(1.16)	4.28
LOGSX	0.65	0.09	0.10	0.23	0.55	(0.78)	1.42	(1.28)	3.71
RYHCX	0.67	0.08	0.09	0.19	0.52	(0.92)	2.09	(1.04)	4.49

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