Franklin Balance Correlations

FRBSX Fund

USD 40.08 0.10 0.25%

The current 90-days correlation between Franklin Balance Sheet and Vanguard Mid Cap Value is 0.95 (i.e., Almost no diversification). The correlation of Franklin Balance 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 Balance Correlation With Market

Very poor diversification

The correlation between Franklin Balance Sheet and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Balance Sheet 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 Balance Sheet. 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 state.

Moving together with Franklin Mutual Fund

0.82	TEBIX	Franklin Mutual Beacon	Pair Corr
0.79	TEMEX	Franklin Mutual Beacon	Pair Corr
0.99	TEMTX	Franklin Mutual Shares	Pair Corr
0.74	TEMQX	Mutual Quest	Pair Corr
0.78	TEQIX	Franklin Mutual Quest	Pair Corr
0.93	TESIX	Franklin Mutual Shares	Pair Corr
0.99	TESRX	Franklin Mutual Shares	Pair Corr
0.93	SASMX	Clearbridge Small Cap	Pair Corr
0.66	WAADX	Western Asset Smash	Pair Corr
0.91	LGVAX	Clearbridge Value Trust	Pair Corr
0.89	SBBAX	Qs Servative Growth	Pair Corr
0.71	SBCPX	Qs Defensive Growth	Pair Corr
0.85	FRDPX	Franklin Rising Dividends	Pair Corr
0.84	FRDTX	Franklin Rising Dividends	Pair Corr

Moving against Franklin Mutual Fund

0.63	TEGBX	Templeton Global Bond	Pair Corr
0.63	WABAX	Western Asset E	Pair Corr
0.54	LGIEX	Qs International Equity	Pair Corr
0.51	TEMIX	Franklin Mutual European	Pair Corr
0.46	TEFTX	Templeton Foreign	Pair Corr
0.46	TEMMX	Templeton Emerging	Pair Corr
0.44	TEFRX	Templeton Foreign	Pair Corr
0.44	TEMFX	Templeton Foreign	Pair Corr
0.62	WATFX	Western Asset E	Pair Corr
0.57	TFSCX	Foreign Smaller Panies	Pair Corr
0.55	WAFAX	Western Asset Inflation	Pair Corr
0.55	WAIIX	Western Asset Inflation	Pair Corr
0.33	SBTYX	Western Asset Interm	Pair Corr

Related Correlations Analysis

	VMVAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX
VMVAX		-0.68	0.0	-0.24	0.72	0.73	0.12	-0.56	0.54	0.92	VMVAX
444859BR2	-0.68		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	-0.69	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.24	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	-0.32	BRRAY
MSTSX	0.72	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	0.75	MSTSX
LBHIX	0.73	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	0.68	LBHIX
ABHYX	0.12	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	0.07	ABHYX
SCAXF	-0.56	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	-0.43	SCAXF
VIASP	0.54	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		0.41	VIASP
AAEVX	0.92	-0.69	0.0	-0.32	0.75	0.68	0.07	-0.43	0.41		AAEVX
	VMVAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX

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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

AAEVX	+ 0.92	VMVAX
AAEVX	+ 0.75	MSTSX
LBHIX	+ 0.73	VMVAX
MSTSX	+ 0.72	VMVAX
AAEVX	+ 0.68	LBHIX
LBHIX	+ 0.67	MSTSX

High negative correlations

VIASP	- 0.8	SCAXF
AAEVX	- 0.69	444859BR2
444859BR2	- 0.68	VMVAX
SCAXF	- 0.56	VMVAX
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Balance 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 Balance'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
VMVAX	0.54	0.02	(0.01)	0.15	0.34	(0.62)	1.08	(0.88)	3.06
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18
AAEVX	0.48	0.05	(0.10)	(2.13)	0.54	(0.57)	0.93	(0.77)	2.76

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