Franklin Income Correlations

FKIQX Fund

USD 2.43 0.01 0.41%

The current 90-days correlation between Franklin Income and Virtus Seix Government is 0.1 (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

Significant diversification

The correlation between Franklin Income and DJI is 0.02 (i.e., Significant 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

0.65	TEDMX	Templeton Developing	Pair Corr
0.62	TEGRX	Templeton Growth	Pair Corr
0.67	TEMWX	Templeton World	Pair Corr
0.64	TEMQX	Mutual Quest	Pair Corr
0.64	TEQIX	Franklin Mutual Quest	Pair Corr
0.62	TEPLX	Templeton Growth	Pair Corr
0.67	TWDAX	Templeton World	Pair Corr
0.68	TEWTX	Templeton World	Pair Corr

Related Correlations Analysis

	SSAGX	GSOSX	LCCXX	BIGLX	RYAQX	GVPIX	PGIQX
SSAGX		-0.57	0.0	-0.54	0.65	-0.61	-0.53	SSAGX
GSOSX	-0.57		0.0	1.0	-0.96	0.99	0.97	GSOSX
LCCXX	0.0	0.0		0.0	0.0	0.0	0.0	LCCXX
BIGLX	-0.54	1.0	0.0		-0.96	0.98	0.97	BIGLX
RYAQX	0.65	-0.96	0.0	-0.96		-0.97	-0.98	RYAQX
GVPIX	-0.61	0.99	0.0	0.98	-0.97		0.95	GVPIX
PGIQX	-0.53	0.97	0.0	0.97	-0.98	0.95		PGIQX
	SSAGX	GSOSX	LCCXX	BIGLX	RYAQX	GVPIX	PGIQX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BIGLX	+ 1.0	GSOSX
GVPIX	+ 0.99	GSOSX
GVPIX	+ 0.98	BIGLX
PGIQX	+ 0.97	GSOSX
PGIQX	+ 0.97	BIGLX
PGIQX	+ 0.95	GVPIX

High negative correlations

PGIQX	- 0.98	RYAQX
GVPIX	- 0.97	RYAQX
RYAQX	- 0.96	BIGLX
RYAQX	- 0.96	GSOSX
GVPIX	- 0.61	SSAGX
GSOSX	- 0.57	SSAGX

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
SSAGX	0.05	0.01	(1.09)	(0.51)	0.00	(0.22)	0.10	(0.10)	0.51
GSOSX	0.22	(0.02)	0.00	0.39	0.00	0.00	0.46	(0.69)	1.40
LCCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BIGLX	0.24	(0.02)	0.00	0.47	0.00	0.00	0.33	(0.55)	1.44
RYAQX	0.61	0.10	(0.05)	(0.81)	0.65	(0.70)	1.52	(1.27)	5.23
GVPIX	0.83	(0.04)	0.00	0.25	0.00	0.00	1.61	(1.89)	5.20
PGIQX	0.24	(0.04)	0.00	(0.40)	0.00	0.00	0.50	(0.64)	1.41

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