Franklin Small Correlations

Mutual Funds . USA . 
Fund . Franklin Small Cap
FSSAX Fund  USD 26.82  0.19  0.71%   
The current 90-days correlation between Franklin Small Cap and Vanguard Short Term Federal is -0.01 (i.e., Good diversification). The correlation of Franklin Small 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 Small Correlation With Market

Very poor diversification

The correlation between Franklin Small Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Small Cap 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 Small Cap. 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

  0.87PEYAX Putnam Equity IncomePairCorr
  0.91TEBIX Franklin Mutual BeaconPairCorr
  0.73TEDMX Templeton DevelopingPairCorr
  0.86TEDIX Franklin Mutual GlobalPairCorr
  0.93TEDSX Franklin Mutual GlobalPairCorr
  0.93TEDRX Franklin Mutual GlobalPairCorr
  0.81TEFRX Templeton ForeignPairCorr
  0.81TEFTX Templeton ForeignPairCorr
  0.9TEGRX Templeton GrowthPairCorr
  0.81TEMFX Templeton ForeignPairCorr
  0.9TEMGX Templeton Global SmallerPairCorr
  0.91TEMEX Franklin Mutual BeaconPairCorr
  0.83TEMIX Franklin Mutual EuropeanPairCorr
  0.95TEMWX Templeton WorldPairCorr
  0.89TEMTX Franklin Mutual SharesPairCorr
  0.8TEMQX Mutual QuestPairCorr
  0.84PFICX Putnam Floating RatePairCorr
  0.61FQCTX Franklin Necticut TaxPairCorr
  0.91SAIFX Clearbridge Large CapPairCorr
  0.86SAGYX Clearbridge AggressivePairCorr
  0.78FQCHX Franklin Templeton SmacsPairCorr
  0.71FQEMX Franklin Templeton SmacsPairCorr
  0.8TEQIX Franklin Mutual QuestPairCorr
  0.9TEPLX Templeton GrowthPairCorr
  0.95TWDAX Templeton WorldPairCorr
  0.94TESIX Franklin Mutual SharesPairCorr
  0.9TESGX Templeton Global SmallerPairCorr
  0.94TESRX Franklin Mutual SharesPairCorr
  0.88PFLRX Putnam Floating RatePairCorr
  0.9LGGAX Clearbridge InternationalPairCorr
  0.83TEURX Franklin Mutual EuropeanPairCorr
  0.88LGIEX Qs International EquityPairCorr
  0.68FQLAX Franklin Louisiana TaxPairCorr
  0.89TEWTX Templeton WorldPairCorr
  0.88SAPYX Clearbridge AppreciationPairCorr
  0.91SASMX Clearbridge Small CapPairCorr
  0.67FQNCX Franklin North CarolinaPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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