Franklin International Correlations

FNGZX Fund

USD 17.16 0.09 0.53%

The current 90-days correlation between Franklin International and Icon Financial Fund is 0.5 (i.e., Very weak diversification). The correlation of Franklin International 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 International Correlation With Market

Poor diversification

The correlation between Franklin International Growth and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin International Growth 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 International Growth. 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 nation.

Moving together with Franklin Mutual Fund

0.8	TEDIX	Franklin Mutual Global	Pair Corr
0.64	TEDSX	Franklin Mutual Global	Pair Corr
0.8	TEDRX	Franklin Mutual Global	Pair Corr
0.88	TEFRX	Templeton Foreign	Pair Corr
0.81	TEFTX	Templeton Foreign	Pair Corr
0.64	TEGBX	Templeton Global Bond	Pair Corr
0.61	TEGRX	Templeton Growth	Pair Corr
0.88	TEMFX	Templeton Foreign	Pair Corr
0.88	TEMGX	Templeton Global Smaller	Pair Corr
0.85	TEMMX	Templeton Emerging	Pair Corr
0.74	TEMIX	Franklin Mutual European	Pair Corr
0.85	TEMZX	Templeton Emerging	Pair Corr
0.73	FQEMX	Franklin Templeton Smacs	Pair Corr
0.88	TESGX	Templeton Global Smaller	Pair Corr
0.81	LGGAX	Clearbridge International	Pair Corr
0.83	TEURX	Franklin Mutual European	Pair Corr
0.85	LGIEX	Qs International Equity	Pair Corr

Moving against Franklin Mutual Fund

0.31	SAIFX	Clearbridge Large Cap	Pair Corr
0.36	SBAYX	Western Asset Adjustable	Pair Corr

Related Correlations Analysis

	ICFAX	FIKBX	GCFSX	FNPIX	SBFAX	PFSQX	RGFIX
ICFAX		0.86	0.92	0.84	0.84	0.92	0.0	ICFAX
FIKBX	0.86		0.94	0.99	0.99	0.96	0.0	FIKBX
GCFSX	0.92	0.94		0.91	0.91	0.98	0.0	GCFSX
FNPIX	0.84	0.99	0.91		1.0	0.95	0.0	FNPIX
SBFAX	0.84	0.99	0.91	1.0		0.95	0.0	SBFAX
PFSQX	0.92	0.96	0.98	0.95	0.95		0.0	PFSQX
RGFIX	0.0	0.0	0.0	0.0	0.0	0.0		RGFIX
	ICFAX	FIKBX	GCFSX	FNPIX	SBFAX	PFSQX	RGFIX

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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

SBFAX	+ 1.0	FNPIX
FNPIX	+ 0.99	FIKBX
SBFAX	+ 0.99	FIKBX
PFSQX	+ 0.98	GCFSX
PFSQX	+ 0.96	FIKBX
PFSQX	+ 0.95	FNPIX

High negative correlations

RGFIX	- 0.0	PFSQX
RGFIX	- 0.0	SBFAX
RGFIX	- 0.0	FNPIX
RGFIX	- 0.0	GCFSX
RGFIX	- 0.0	FIKBX
RGFIX	- 0.0	ICFAX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin International 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 International'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
ICFAX	0.72	(0.01)	0.00	0.11	0.75	(0.88)	1.45	(1.21)	5.10
FIKBX	0.82	0.27	0.16	(1.80)	0.51	(1.02)	1.88	(1.15)	9.76
GCFSX	0.69	0.04	0.06	0.16	0.47	(0.92)	1.52	(1.41)	4.94
FNPIX	1.08	0.32	0.14	(1.49)	0.88	(1.16)	2.09	(1.83)	11.72
SBFAX	0.80	0.25	0.13	(2.15)	0.50	(0.95)	1.73	(1.44)	8.60
PFSQX	0.80	0.06	0.13	0.16	0.50	(0.99)	1.58	(1.42)	8.34
RGFIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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