Franklin Equity Correlations

Mutual Funds . USA . 
Fund . Franklin Equity Income
FREIX Fund  USD 33.64  0.40  1.20%   
The current 90-days correlation between Franklin Equity Income and Blackrock Science Technology is -0.02 (i.e., Good diversification). The correlation of Franklin Equity 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 Equity Correlation With Market

Average diversification

The correlation between Franklin Equity Income and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Equity Income 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 Equity Income. 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 gross domestic product.

Moving together with Franklin Mutual Fund

  0.68TEBIX Franklin Mutual BeaconPairCorr
  0.88TEDIX Franklin Mutual GlobalPairCorr
  0.84TEDSX Franklin Mutual GlobalPairCorr
  0.79TEDRX Franklin Mutual GlobalPairCorr
  0.64TEMGX Templeton Global SmallerPairCorr
  0.75TEMWX Templeton WorldPairCorr
  0.76TWDAX Templeton WorldPairCorr
  0.61TESGX Templeton Global SmallerPairCorr
  0.74TEWTX Templeton WorldPairCorr

Moving against Franklin Mutual Fund

  0.34TEGRX Templeton GrowthPairCorr
  0.61SAIFX Clearbridge Large CapPairCorr
  0.35LGGAX Clearbridge InternationalPairCorr
  0.32SAGYX Clearbridge AggressivePairCorr
  0.41LGIEX Qs International EquityPairCorr
  0.33SASMX Clearbridge Small CapPairCorr
  0.32SAPYX Clearbridge AppreciationPairCorr
  0.31LGVAX Clearbridge Value TrustPairCorr

Related Correlations Analysis


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

CMTFX
+ 0.9
BSTSX
VITAX
+ 0.82
BSTSX
PGKCX
+ 0.77
CMTFX
VITAX
+ 0.76
CMTFX
PGKCX
+ 0.72
BSTSX
BIPIX
+ 0.67
HTECX
  

High negative correlations

BIPIX
- 0.07
VITAX

Risk-Adjusted Indicators

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