Franklin Total Correlations

FBDAX Fund

USD 8.40 0.02 0.24%

The current 90-days correlation between Franklin Total Return and Gmo Global Equity is 0.22 (i.e., Modest diversification). The correlation of Franklin Total 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 Total Correlation With Market

Average diversification

The correlation between Franklin Total Return and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Total Return 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 Total Return. 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

0.61	TEDSX	Franklin Mutual Global	Pair Corr
0.62	TEFRX	Templeton Foreign	Pair Corr
0.9	TEGBX	Templeton Global Bond	Pair Corr
0.62	TEMFX	Templeton Foreign	Pair Corr
0.73	TEMMX	Templeton Emerging	Pair Corr
0.66	TEMIX	Franklin Mutual European	Pair Corr
0.67	FQCHX	Franklin Templeton Smacs	Pair Corr
0.77	LGGAX	Clearbridge International	Pair Corr
0.7	TEURX	Franklin Mutual European	Pair Corr
0.8	LGIEX	Qs International Equity	Pair Corr
0.61	FQNCX	Franklin North Carolina	Pair Corr
0.88	WAARX	Western Asset Total	Pair Corr

Moving against Franklin Mutual Fund

0.64	SAGYX	Clearbridge Aggressive	Pair Corr
0.62	SAIFX	Clearbridge Large Cap	Pair Corr
0.58	TESIX	Franklin Mutual Shares	Pair Corr
0.57	TEMTX	Franklin Mutual Shares	Pair Corr
0.55	TESRX	Franklin Mutual Shares	Pair Corr
0.35	TEMWX	Templeton World	Pair Corr
0.35	TWDAX	Templeton World	Pair Corr
0.73	SBAYX	Western Asset Adjustable	Pair Corr
0.68	LGVAX	Clearbridge Value Trust	Pair Corr
0.62	WAADX	Western Asset Smash	Pair Corr
0.58	FRAAX	Franklin Growth Oppo	Pair Corr
0.55	SAPYX	Clearbridge Appreciation	Pair Corr
0.53	SASMX	Clearbridge Small Cap	Pair Corr
0.5	FRBSX	Franklin Balance Sheet	Pair Corr
0.46	FRDPX	Franklin Rising Dividends	Pair Corr
0.45	FRDRX	Franklin Rising Dividends	Pair Corr

Related Correlations Analysis

	GMADX	CGEOX	AECXX	MPGVX	APDNX	SILLX
GMADX		0.43	0.0	0.74	0.27	0.22	GMADX
CGEOX	0.43		0.0	-0.21	0.87	0.91	CGEOX
AECXX	0.0	0.0		0.0	0.0	0.0	AECXX
MPGVX	0.74	-0.21	0.0		-0.38	-0.43	MPGVX
APDNX	0.27	0.87	0.0	-0.38		0.93	APDNX
SILLX	0.22	0.91	0.0	-0.43	0.93		SILLX
	GMADX	CGEOX	AECXX	MPGVX	APDNX	SILLX

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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

SILLX	+ 0.93	APDNX
SILLX	+ 0.91	CGEOX
APDNX	+ 0.87	CGEOX
MPGVX	+ 0.74	GMADX
CGEOX	+ 0.43	GMADX
APDNX	+ 0.27	GMADX

High negative correlations

SILLX	- 0.43	MPGVX
APDNX	- 0.38	MPGVX
MPGVX	- 0.21	CGEOX
SILLX	- 0.0	AECXX
APDNX	- 0.0	AECXX
MPGVX	- 0.0	AECXX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Total 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 Total'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
GMADX	0.47	0.02	(0.14)	0.32	0.52	(0.52)	0.89	(0.97)	2.98
CGEOX	0.59	0.12	0.03	1.17	0.52	(0.70)	1.45	(1.25)	4.11
AECXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MPGVX	0.48	(0.02)	0.00	(1.38)	0.00	0.00	0.92	(0.92)	3.10
APDNX	0.51	0.07	(0.08)	2.43	0.39	(0.66)	1.24	(0.83)	3.41
SILLX	0.51	0.08	0.06	0.24	0.39	(0.58)	1.44	(1.01)	3.17

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