Franklin Equity Correlations

FREIX Fund

USD 33.64 0.40 1.20%

The current 90-days correlation between Franklin Equity Income and Touchstone Small Cap is 0.43 (i.e., Very weak 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

Very weak diversification

The correlation between Franklin Equity Income and DJI is 0.41 (i.e., Very weak 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

0.71	TEDIX	Franklin Mutual Global	Pair Corr
0.68	TEDSX	Franklin Mutual Global	Pair Corr
0.88	TEDRX	Franklin Mutual Global	Pair Corr
0.8	TEMWX	Templeton World	Pair Corr
0.92	TWDAX	Templeton World	Pair Corr
0.61	TESGX	Templeton Global Smaller	Pair Corr
0.8	TEWTX	Templeton World	Pair Corr

Moving against Franklin Mutual Fund

0.43	TEGRX	Templeton Growth	Pair Corr
0.65	SAIFX	Clearbridge Large Cap	Pair Corr
0.47	LGGAX	Clearbridge International	Pair Corr
0.37	SAGYX	Clearbridge Aggressive	Pair Corr
0.48	LGIEX	Qs International Equity	Pair Corr
0.45	SASMX	Clearbridge Small Cap	Pair Corr
0.44	SAPYX	Clearbridge Appreciation	Pair Corr
0.35	LGVAX	Clearbridge Value Trust	Pair Corr

Related Correlations Analysis

	TVOYX	MMSCX	ARTSX	ANTMX	NSMAX	LMBMX	QSERX	SECAX
TVOYX		0.66	0.9	0.66	0.8	0.85	0.72	0.78	TVOYX
MMSCX	0.66		0.83	0.76	0.94	0.93	0.94	0.91	MMSCX
ARTSX	0.9	0.83		0.75	0.89	0.93	0.86	0.9	ARTSX
ANTMX	0.66	0.76	0.75		0.71	0.78	0.78	0.8	ANTMX
NSMAX	0.8	0.94	0.89	0.71		0.95	0.9	0.9	NSMAX
LMBMX	0.85	0.93	0.93	0.78	0.95		0.95	0.95	LMBMX
QSERX	0.72	0.94	0.86	0.78	0.9	0.95		0.96	QSERX
SECAX	0.78	0.91	0.9	0.8	0.9	0.95	0.96		SECAX
	TVOYX	MMSCX	ARTSX	ANTMX	NSMAX	LMBMX	QSERX	SECAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TVOYX	0.76	0.00	0.01	0.06	0.91	(0.81)	1.75	(1.39)	4.44
MMSCX	0.96	0.15	0.08	5.77	0.93	(1.06)	1.95	(1.77)	10.09
ARTSX	1.15	0.12	0.11	0.13	1.11	(1.33)	1.98	(1.94)	13.44
ANTMX	0.70	(0.01)	(0.02)	0.04	0.92	(0.71)	1.29	(1.60)	3.31
NSMAX	0.93	0.14	0.07	1.82	1.07	(0.98)	2.21	(1.98)	7.06
LMBMX	0.99	0.07	0.07	0.12	1.04	(1.10)	2.19	(1.85)	6.62
QSERX	1.12	0.12	0.10	0.16	1.13	(1.28)	2.23	(2.18)	10.30
SECAX	1.06	0.12	0.11	0.15	0.98	(1.20)	2.40	(1.72)	10.96

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