Franklin Federal Correlations
| FKTIX Fund | USD 10.92 0.01 0.09% |
The current 90-days correlation between Franklin Federal Tax and Volumetric Fund Volumetric is 0.01 (i.e., Significant diversification). The correlation of Franklin Federal 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 Federal Correlation With Market
Average diversification
The correlation between Franklin Federal Tax Free and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Federal Tax Free and DJI in the same portfolio, assuming nothing else is changed.
Franklin |
Moving together with Franklin Mutual Fund
| 0.98 | FQCTX | Franklin Necticut Tax | PairCorr |
| 0.96 | FQCHX | Franklin Templeton Smacs | PairCorr |
| 0.99 | FQLAX | Franklin Louisiana Tax | PairCorr |
| 0.87 | FQNCX | Franklin North Carolina | PairCorr |
| 0.97 | FQMDX | Franklin Maryland Tax | PairCorr |
| 0.74 | WAARX | Western Asset Total | PairCorr |
Related Correlations Analysis
| 0.99 | 0.81 | 0.95 | 0.98 | VOLMX | ||
| 0.99 | 0.79 | 0.96 | 0.98 | ADGAX | ||
| 0.81 | 0.79 | 0.68 | 0.78 | RFXIX | ||
| 0.95 | 0.96 | 0.68 | 0.95 | TQAAX | ||
| 0.98 | 0.98 | 0.78 | 0.95 | LAVVX | ||
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Risk-Adjusted Indicators
There is a big difference between Franklin Mutual Fund performing well and Franklin Federal 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 Federal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VOLMX | 0.60 | 0.00 | 0.00 | 0.10 | 0.60 | 1.14 | 4.49 | |||
| ADGAX | 0.57 | (0.02) | (0.03) | 0.08 | 0.73 | 1.11 | 4.36 | |||
| RFXIX | 0.07 | 0.01 | (0.73) | 1.14 | 0.00 | 0.11 | 0.39 | |||
| TQAAX | 0.83 | (0.04) | (0.01) | 0.07 | 0.98 | 1.97 | 6.10 | |||
| LAVVX | 0.52 | 0.01 | 0.00 | 0.12 | 0.41 | 1.19 | 4.04 |