Franklin Dynatech Correlations

Mutual Funds . USA . 
Fund . Franklin Dynatech Fund
FDYNX Fund  USD 141.31  2.10  1.46%   
The current 90-days correlation between Franklin Dynatech and Franklin Mutual Beacon is 0.24 (i.e., Modest diversification). The correlation of Franklin Dynatech 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 Dynatech Correlation With Market

Significant diversification

The correlation between Franklin Dynatech Fund and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Dynatech Fund 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 Dynatech Fund. 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 board of governors.

Moving against Franklin Mutual Fund

  0.76TEFTX Templeton ForeignPairCorr
  0.76TEGBX Templeton Global BondPairCorr
  0.75TEFRX Templeton ForeignPairCorr
  0.75TEMFX Templeton ForeignPairCorr
  0.7TEDMX Templeton DevelopingPairCorr
  0.67TEMMX Templeton EmergingPairCorr
  0.64TEMIX Franklin Mutual EuropeanPairCorr
  0.38TEDSX Franklin Mutual GlobalPairCorr
  0.36TEDIX Franklin Mutual GlobalPairCorr
  0.36TEDRX Franklin Mutual GlobalPairCorr
  0.69FQEMX Franklin Templeton SmacsPairCorr
  0.67TEMZX Templeton EmergingPairCorr
  0.66TEURX Franklin Mutual EuropeanPairCorr
  0.55LGIEX Qs International EquityPairCorr
  0.45LGGAX Clearbridge InternationalPairCorr
  0.75TFFAX Templeton ForeignPairCorr
  0.65WABAX Western Asset EPairCorr
  0.63FQTIX Franklin Strategic SeriesPairCorr
  0.57WAFAX Western Asset InflationPairCorr
  0.52TFESX International EquityPairCorr
  0.52TFEQX International EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Dynatech 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 Dynatech'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TEBIX  0.54 (0.13) 0.00 (1.76) 0.00 
 0.00 
 0.83 
(1.05)
 6.52 
TEDMX  0.74 (0.09) 0.00 (0.68) 0.00 
 0.00 
 1.49 
(1.68)
 6.20 
TEDIX  0.62 (0.20) 0.00 (8.93) 0.00 
 0.00 
 0.85 
(1.05)
 10.42 
TEDSX  0.62 (0.21) 0.00  5.67  0.00 
 0.00 
 0.82 
(1.35)
 9.48 
TEDRX  0.62 (0.20) 0.00 (8.59) 0.00 
 0.00 
 0.84 
(1.08)
 10.33 
TEFRX  0.73 (0.17) 0.00 (3.11) 0.00 
 0.00 
 1.08 
(2.02)
 5.69 
TEFTX  0.74 (0.19) 0.00 (1.22) 0.00 
 0.00 
 1.05 
(1.97)
 5.54 
TEGBX  0.43 (0.22) 0.00 (1.81) 0.00 
 0.00 
 0.67 
(1.01)
 3.22 
TEGRX  0.57 (0.09) 0.00 (0.61) 0.00 
 0.00 
 0.99 
(0.94)
 4.35 
TEMFX  0.73 (0.18) 0.00 (2.84) 0.00 
 0.00 
 1.05 
(2.06)
 5.66 

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