Franklin Growth Correlations

FGTRX Fund  USD 20.05  0.48  2.34%   
The current 90-days correlation between Franklin Growth Allo and Franklin Mutual Beacon is 0.71 (i.e., Poor diversification). The correlation of Franklin Growth 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 Growth Correlation With Market

Poor diversification

The correlation between Franklin Growth Allocation and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Growth Allocation 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 Growth Allocation. 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

  0.69TEBIX Franklin Mutual BeaconPairCorr
  0.67TEMEX Franklin Mutual BeaconPairCorr
  0.94TEMWX Templeton WorldPairCorr
  0.71TEMTX Franklin Mutual SharesPairCorr
  0.65TEMQX Mutual QuestPairCorr
  0.77SAIFX Clearbridge Large CapPairCorr
  0.67SAGYX Clearbridge AggressivePairCorr
  0.69TEQIX Franklin Mutual QuestPairCorr
  0.94TWDAX Templeton WorldPairCorr
  0.76TESIX Franklin Mutual SharesPairCorr
  0.72TESRX Franklin Mutual SharesPairCorr
  0.94TEWTX Templeton WorldPairCorr
  0.61SAPYX Clearbridge AppreciationPairCorr
  0.81SASMX Clearbridge Small CapPairCorr

Moving against Franklin Mutual Fund

  0.53TEGBX Templeton Global BondPairCorr
  0.48TEFTX Templeton ForeignPairCorr
  0.45TEFRX Templeton ForeignPairCorr
  0.45TEMFX Templeton ForeignPairCorr
  0.41TEMZX Templeton EmergingPairCorr
  0.39TEMMX Templeton EmergingPairCorr
  0.36TEMIX Franklin Mutual EuropeanPairCorr
  0.32TEURX Franklin Mutual EuropeanPairCorr
  0.45TFFAX Templeton ForeignPairCorr
  0.4SBIYX Clearbridge InternationalPairCorr
  0.38WABAX Western Asset EPairCorr
  0.34FQTIX Franklin Strategic SeriesPairCorr
  0.33FRBRX Franklin BiotechnologyPairCorr

Related Correlations Analysis

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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   
TEDRXTEDIX
TEMFXTEFRX
TEFTXTEFRX
TEMFXTEFTX
TEGBXTEFRX
TEGBXTEFTX
  
High negative correlations   
TEFTXTEBIX
TEDMXTEBIX
TEGBXTEBIX
TEMFXTEBIX
TEFRXTEBIX

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Growth 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 Growth'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  0.47 (0.08) 0.00 (0.10) 0.00 
 0.83 
 2.80 
TEDMX  0.81 (0.01)(0.03)(0.02) 0.90 
 1.84 
 6.20 
TEDIX  0.50 (0.09) 0.00 (0.13) 0.00 
 0.88 
 2.77 
TEDSX  0.48 (0.06) 0.00 (2.66) 0.00 
 0.88 
 2.75 
TEDRX  0.50 (0.09) 0.00 (0.13) 0.00 
 0.87 
 2.76 
TEFRX  0.78 (0.14) 0.00 (0.32) 0.00 
 1.86 
 5.42 
TEFTX  0.75 (0.09) 0.00 (24.20) 0.00 
 1.82 
 5.46 
TEGBX  0.40 (0.17) 0.00 (1.55) 0.00 
 0.67 
 2.75 
TEGRX  0.57 (0.10) 0.00 (0.11) 0.00 
 1.23 
 4.66 
TEMFX  0.78 (0.14) 0.00 (0.31) 0.00 
 1.81 
 5.45