Franklin Mutual Correlations

TESRX Fund

USD 28.42 0.27 0.96%

The current 90-days correlation between Franklin Mutual Shares and Franklin Income Fund is 0.52 (i.e., Very weak diversification). The correlation of Franklin Mutual 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 Mutual Correlation With Market

Almost no diversification

The correlation between Franklin Mutual Shares and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Mutual Shares and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Franklin Mutual Shares. 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 metropolitan statistical area.

Moving together with Franklin Mutual Fund

0.73	TEBIX	Franklin Mutual Beacon	Pair Corr
0.69	TEMEX	Franklin Mutual Beacon	Pair Corr
0.77	TEMWX	Templeton World	Pair Corr
1.0	TEMTX	Franklin Mutual Shares	Pair Corr
0.65	TEMQX	Mutual Quest	Pair Corr
0.98	SAIFX	Clearbridge Large Cap	Pair Corr
0.94	SAGYX	Clearbridge Aggressive	Pair Corr
0.69	TEQIX	Franklin Mutual Quest	Pair Corr
0.78	TWDAX	Templeton World	Pair Corr
1.0	TESIX	Franklin Mutual Shares	Pair Corr
0.76	TEWTX	Templeton World	Pair Corr
0.95	SAPYX	Clearbridge Appreciation	Pair Corr
0.97	SASMX	Clearbridge Small Cap	Pair Corr
0.75	WAADX	Western Asset Smash	Pair Corr

Moving against Franklin Mutual Fund

0.69	TEGBX	Templeton Global Bond	Pair Corr
0.53	TEMIX	Franklin Mutual European	Pair Corr
0.5	LGGAX	Clearbridge International	Pair Corr
0.47	TEFRX	Templeton Foreign	Pair Corr
0.47	TEFTX	Templeton Foreign	Pair Corr
0.47	TEMMX	Templeton Emerging	Pair Corr
0.47	TEMZX	Templeton Emerging	Pair Corr
0.46	TEMFX	Templeton Foreign	Pair Corr
0.69	WABAX	Western Asset E	Pair Corr
0.65	WACPX	Western Asset E	Pair Corr
0.6	WAFAX	Western Asset Inflation	Pair Corr
0.6	WAIIX	Western Asset Inflation	Pair Corr
0.58	LGIEX	Qs International Equity	Pair Corr
0.55	TEURX	Franklin Mutual European	Pair Corr
0.46	TFFAX	Templeton Foreign	Pair Corr
0.43	TFEQX	International Equity	Pair Corr

Related Correlations Analysis

	FISRX	TEDRX	TEFRX	TEGRX	FUSRX
FISRX		0.52	0.32	0.55	0.01	FISRX
TEDRX	0.52		0.77	0.77	0.31	TEDRX
TEFRX	0.32	0.77		0.43	0.56	TEFRX
TEGRX	0.55	0.77	0.43		-0.14	TEGRX
FUSRX	0.01	0.31	0.56	-0.14		FUSRX
	FISRX	TEDRX	TEFRX	TEGRX	FUSRX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

TEFRX	+ 0.77	TEDRX
TEGRX	+ 0.77	TEDRX
FUSRX	+ 0.56	TEFRX
TEGRX	+ 0.55	FISRX
TEDRX	+ 0.52	FISRX
TEGRX	+ 0.43	TEFRX

High negative correlations

FUSRX

- 0.14

TEGRX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Mutual 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 Mutual'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
FISRX	0.23	(0.01)	(0.20)	0.07	0.21	(0.45)	0.43	(0.43)	1.71
TEDRX	0.51	(0.08)	(0.18)	0.00	0.66	(0.50)	1.12	(1.08)	2.76
TEFRX	0.82	(0.14)	0.00	(0.16)	0.00	0.00	1.92	(2.08)	5.42
TEGRX	0.57	(0.10)	(0.17)	(0.01)	0.70	(0.64)	1.23	(0.88)	3.31
FUSRX	0.24	(0.03)	0.00	0.75	0.00	0.00	0.39	(0.60)	1.39

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC