Franklin Pennsylvania Correlations

Mutual Funds . USA . 
Fund . Franklin Pennsylvania Tax Free
FPFZX Fund  USD 8.81  0.01  0.11%   
The current 90-days correlation between Franklin Pennsylvania and California Municipal Portfolio is 0.11 (i.e., Average diversification). The correlation of Franklin Pennsylvania 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 Pennsylvania Correlation With Market

Average diversification

The correlation between Franklin Pennsylvania 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 Pennsylvania Tax Free 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 Pennsylvania Tax Free. 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

  0.67TEBIX Franklin Mutual BeaconPairCorr
  0.63TEDIX Franklin Mutual GlobalPairCorr
  0.63TEDSX Franklin Mutual GlobalPairCorr
  0.63TEDRX Franklin Mutual GlobalPairCorr
  0.62TEGRX Templeton GrowthPairCorr
  0.72TEMGX Templeton Global SmallerPairCorr
  0.66TEMEX Franklin Mutual BeaconPairCorr
  0.72TEMWX Templeton WorldPairCorr
  0.65TEMTX Franklin Mutual SharesPairCorr
  0.99FQCTX Franklin Necticut TaxPairCorr
  0.65SAIFX Clearbridge Large CapPairCorr
  0.68SAGYX Clearbridge AggressivePairCorr
  0.95FQCHX Franklin Templeton SmacsPairCorr
  0.62TEPLX Templeton GrowthPairCorr
  0.76TWDAX Templeton WorldPairCorr
  0.65TESIX Franklin Mutual SharesPairCorr
  0.69TESGX Templeton Global SmallerPairCorr
  0.65TESRX Franklin Mutual SharesPairCorr
  0.92FQLAX Franklin Louisiana TaxPairCorr
  0.74TEWTX Templeton WorldPairCorr
  0.7SAPYX Clearbridge AppreciationPairCorr
  0.68SASMX Clearbridge Small CapPairCorr
  0.99FQNCX Franklin North CarolinaPairCorr
  0.99FQMDX Franklin Maryland TaxPairCorr

Moving against Franklin Mutual Fund

  0.67WAADX Western Asset SmashPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Pennsylvania 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 Pennsylvania'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.

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