Franklin Strategic Correlations

FRSTX Fund

USD 8.37 0.03 0.36%

The current 90-days correlation between Franklin Strategic Income and Pimco Income Fund is 0.79 (i.e., Poor diversification). The correlation of Franklin Strategic 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 Strategic Correlation With Market

Good diversification

The correlation between Franklin Strategic Income and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Strategic Income 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 Strategic Income. 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 estimate.

Moving together with FRANKLIN Mutual Fund

0.71	TEFRX	Templeton Foreign	Pair Corr
0.71	TEFTX	Templeton Foreign	Pair Corr
0.94	TEGBX	Templeton Global Bond	Pair Corr
0.7	TEMFX	Templeton Foreign	Pair Corr
0.79	TEMMX	Templeton Emerging	Pair Corr
0.71	TEMIX	Franklin Mutual European	Pair Corr
0.68	FQCTX	Franklin Necticut Tax	Pair Corr
0.79	TEMZX	Templeton Emerging	Pair Corr
0.69	FQCHX	Franklin Templeton Smacs	Pair Corr
0.81	LGGAX	Clearbridge International	Pair Corr
0.72	TEURX	Franklin Mutual European	Pair Corr
0.8	LGIEX	Qs International Equity	Pair Corr
0.7	FQNCX	Franklin North Carolina	Pair Corr
0.66	FQMDX	Franklin Maryland Tax	Pair Corr
0.88	WAARX	Western Asset Total	Pair Corr

Moving against FRANKLIN Mutual Fund

0.61	SAIFX	Clearbridge Large Cap	Pair Corr
0.61	SAGYX	Clearbridge Aggressive	Pair Corr
0.56	TEMTX	Franklin Mutual Shares	Pair Corr
0.56	TESIX	Franklin Mutual Shares	Pair Corr
0.56	TESRX	Franklin Mutual Shares	Pair Corr
0.35	TWDAX	Templeton World	Pair Corr
0.34	TEMWX	Templeton World	Pair Corr
0.68	SBAYX	Western Asset Adjustable	Pair Corr
0.6	LGVAX	Clearbridge Value Trust	Pair Corr
0.58	SAPYX	Clearbridge Appreciation	Pair Corr
0.56	SASMX	Clearbridge Small Cap	Pair Corr
0.53	FRAAX	Franklin Growth Oppo	Pair Corr
0.5	FRBSX	Franklin Balance Sheet	Pair Corr
0.42	WAADX	Western Asset Smash	Pair Corr
0.35	FRDPX	Franklin Rising Dividends	Pair Corr

Related Correlations Analysis

	PONAX	PONCX	PIPNX	PONRX	PONPX	PIINX	PIMIX	LBNDX	FSRIX
PONAX		1.0	1.0	1.0	1.0	1.0	1.0	0.6	0.65	PONAX
PONCX	1.0		0.99	1.0	0.99	0.99	0.99	0.55	0.6	PONCX
PIPNX	1.0	0.99		1.0	1.0	1.0	1.0	0.64	0.69	PIPNX
PONRX	1.0	1.0	1.0		1.0	1.0	1.0	0.6	0.65	PONRX
PONPX	1.0	0.99	1.0	1.0		1.0	1.0	0.63	0.68	PONPX
PIINX	1.0	0.99	1.0	1.0	1.0		1.0	0.64	0.69	PIINX
PIMIX	1.0	0.99	1.0	1.0	1.0	1.0		0.64	0.68	PIMIX
LBNDX	0.6	0.55	0.64	0.6	0.63	0.64	0.64		0.96	LBNDX
FSRIX	0.65	0.6	0.69	0.65	0.68	0.69	0.68	0.96		FSRIX
	PONAX	PONCX	PIPNX	PONRX	PONPX	PIINX	PIMIX	LBNDX	FSRIX

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Risk-Adjusted Indicators

There is a big difference between FRANKLIN Mutual Fund performing well and Franklin Strategic 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 Strategic'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
PONAX	0.15	0.00	(0.58)	0.06	0.15	(0.18)	0.28	(0.28)	1.04
PONCX	0.15	0.00	(0.61)	(0.05)	0.15	(0.17)	0.19	(0.28)	1.04
PIPNX	0.16	0.00	(0.57)	0.12	0.15	(0.18)	0.28	(0.28)	1.04
PONRX	0.15	0.00	(0.58)	0.06	0.15	(0.18)	0.28	(0.28)	1.04
PONPX	0.15	0.00	(0.59)	0.11	0.14	(0.18)	0.28	(0.28)	1.04
PIINX	0.16	0.00	(0.57)	0.12	0.15	(0.18)	0.28	(0.28)	1.04
PIMIX	0.15	0.00	(0.56)	0.13	0.15	(0.18)	0.28	(0.28)	1.04
LBNDX	0.14	0.01	(0.39)	0.24	0.05	(0.20)	0.28	(0.28)	1.11
FSRIX	0.14	0.01	(0.54)	0.36	0.00	(0.17)	0.26	(0.26)	0.85

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