Franklin Income Correlations
| FNCFX Fund | USD 2.41 0.01 0.42% |
The current 90-days correlation between Franklin Income and Legg Mason Partners is -0.01 (i.e., Good 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 Fund and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Income Fund and DJI in the same portfolio, assuming nothing else is changed.
Franklin |
Moving together with Franklin Mutual Fund
| 0.67 | TEDMX | Templeton Developing | PairCorr |
| 0.72 | TEMQX | Mutual Quest | PairCorr |
| 0.65 | FQCHX | Franklin Templeton Smacs | PairCorr |
| 0.62 | TEPLX | Templeton Growth | PairCorr |
| 0.74 | FQTEX | Franklin Strategic Series | PairCorr |
| 0.65 | FQTHX | Franklin Templeton Smacs | PairCorr |
| 0.77 | FQTIX | Franklin Strategic Series | PairCorr |
Related Correlations Analysis
| 1.0 | 0.41 | 0.92 | 0.92 | 0.41 | 0.43 | SMGXX | ||
| 1.0 | 0.41 | 0.92 | 0.92 | 0.41 | 0.43 | PRRXX | ||
| 0.41 | 0.41 | 0.38 | 0.38 | 1.0 | 0.76 | UATXX | ||
| 0.92 | 0.92 | 0.38 | 1.0 | 0.38 | 0.4 | PRXXX | ||
| 0.92 | 0.92 | 0.38 | 1.0 | 0.38 | 0.4 | TIMXX | ||
| 0.41 | 0.41 | 1.0 | 0.38 | 0.38 | 0.76 | GMCXX | ||
| 0.43 | 0.43 | 0.76 | 0.4 | 0.4 | 0.76 | CHNTX | ||
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SMGXX | 0.03 | 0.01 | 0.00 | (0.12) | 0.00 | 0.00 | 1.01 | |||
| PRRXX | 0.03 | 0.01 | 0.00 | (0.12) | 0.00 | 0.00 | 1.01 | |||
| UATXX | 0.03 | 0.01 | 0.00 | (0.37) | 0.00 | 0.00 | 1.01 | |||
| PRXXX | 0.03 | 0.00 | 0.00 | 0.48 | 0.00 | 0.00 | 1.01 | |||
| TIMXX | 0.03 | 0.00 | 0.00 | 0.48 | 0.00 | 0.00 | 1.01 | |||
| GMCXX | 0.03 | 0.01 | 0.00 | (0.37) | 0.00 | 0.00 | 1.01 | |||
| CHNTX | 0.50 | 0.10 | (0.04) | (1.77) | 0.44 | 0.97 | 3.50 |