Franklin Utilities Correlations

FKUTX Fund

USD 25.92 0.26 1.01%

The current 90-days correlation between Franklin Utilities and John Hancock Financial is 0.12 (i.e., Average diversification). The correlation of Franklin Utilities 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 Utilities Correlation With Market

Average diversification

The correlation between Franklin Utilities Fund and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Utilities Fund 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 Utilities Fund. 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 estimate.

Moving together with Franklin Mutual Fund

0.81	AY	Atlantica Sustainable	Pair Corr
0.87	NI	NiSource	Pair Corr
0.63	SR	Spire Inc	Pair Corr
0.8	EVRG	Evergy,	Pair Corr
0.94	AEE	Ameren Corp	Pair Corr
0.77	AGR	Avangrid	Pair Corr
0.86	ALE	Allete Inc	Pair Corr
0.93	ATO	Atmos Energy	Pair Corr
0.76	AWR	American States Water	Pair Corr
0.79	BIP	Brookfield Infrastructure	Pair Corr
0.79	BKH	Black Hills	Pair Corr
0.69	CEG	Constellation Energy Corp Buyout Trend	Pair Corr
0.94	CNP	CenterPoint Energy	Pair Corr
0.79	CPK	Chesapeake Utilities	Pair Corr

Moving against Franklin Mutual Fund

0.61	ELPC	Companhia Paranaense	Pair Corr
0.45	HE	Hawaiian Electric	Pair Corr
0.41	RNWWW	ReNew Energy Global	Pair Corr
0.39	ES	Eversource Energy	Pair Corr
0.32	FE	FirstEnergy	Pair Corr
0.44	AQN	Algonquin Power Utilities	Pair Corr
0.35	AES	AES	Pair Corr
0.72	EBR	Centrais Electricas	Pair Corr
0.64	ELP	Companhia Paranaense	Pair Corr
0.47	CWT	California Water Service	Pair Corr
0.46	GNE	Genie Energy	Pair Corr

Related Correlations Analysis

	BTO	FNPIX	PFANX	MSVIX	XFINX	HILFX
BTO		0.96	0.38	0.81	0.59	0.99	BTO
FNPIX	0.96		0.45	0.73	0.61	0.96	FNPIX
PFANX	0.38	0.45		0.52	0.74	0.41	PFANX
MSVIX	0.81	0.73	0.52		0.56	0.8	MSVIX
XFINX	0.59	0.61	0.74	0.56		0.59	XFINX
HILFX	0.99	0.96	0.41	0.8	0.59		HILFX
	BTO	FNPIX	PFANX	MSVIX	XFINX	HILFX

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Utilities 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 Utilities' 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
BTO	0.93	0.11	0.15	0.20	0.75	(1.03)	1.88	(1.32)	9.88
FNPIX	1.09	0.33	0.15	(1.69)	0.88	(1.17)	2.09	(1.83)	11.72
PFANX	0.10	0.01	(0.77)	0.69	0.00	(0.16)	0.22	(0.11)	0.54
MSVIX	0.79	(0.07)	(0.04)	0.06	0.84	(0.91)	1.78	(1.41)	5.71
XFINX	0.11	0.02	(0.25)	0.97	0.13	(0.13)	0.22	(0.14)	1.00
HILFX	1.10	0.08	0.18	0.16	0.72	(1.35)	2.60	(1.60)	13.68

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