Franklin Floating Correlations

IE00B000C709

USD 18.54 0.04 0.22%

The current 90-days correlation between Franklin Floating Rate and Franklin Floating Rate is 0.92 (i.e., Almost no diversification). The correlation of Franklin Floating 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.

Franklin Floating Correlation With Market

Weak diversification

The correlation between Franklin Floating Rate and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Floating Rate and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Franklin Floating could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Franklin Floating when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Franklin Floating - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Franklin Floating Rate to buy it.

Moving together with Franklin Fund

1.0	IE00B065CV35	Franklin Floating Rate	Pair Corr
1.0	IE0032578035	Franklin Floating Rate	Pair Corr

Related Correlations Analysis

	IE00B065CV35	IE0032578035	IE00B000C709	DHG	UPR	0P0001EIH6	OIZ	0P0001EC8K	8GW	BIRG
IE00B065CV35		1.0	1.0	0.76	-0.85	0.43	-0.91	0.74	0.67	-0.77	IE00B065CV35
IE0032578035	1.0		1.0	0.74	-0.83	0.41	-0.9	0.73	0.65	-0.75	IE0032578035
IE00B000C709	1.0	1.0		0.77	-0.85	0.43	-0.91	0.74	0.68	-0.77	IE00B000C709
DHG	0.76	0.74	0.77		-0.83	0.16	-0.76	0.65	0.77	-0.63	DHG
UPR	-0.85	-0.83	-0.85	-0.83		-0.34	0.9	-0.61	-0.84	0.79	UPR
0P0001EIH6	0.43	0.41	0.43	0.16	-0.34		-0.41	0.63	0.04	-0.65	0P0001EIH6
OIZ	-0.91	-0.9	-0.91	-0.76	0.9	-0.41		-0.67	-0.73	0.81	OIZ
0P0001EC8K	0.74	0.73	0.74	0.65	-0.61	0.63	-0.67		0.37	-0.76	0P0001EC8K
8GW	0.67	0.65	0.68	0.77	-0.84	0.04	-0.73	0.37		-0.59	8GW
BIRG	-0.77	-0.75	-0.77	-0.63	0.79	-0.65	0.81	-0.76	-0.59		BIRG
	IE00B065CV35	IE0032578035	IE00B000C709	DHG	UPR	0P0001EIH6	OIZ	0P0001EC8K	8GW	BIRG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

IE0032578035	+ 1.0	IE00B065CV35
IE00B000C709	+ 1.0	IE00B065CV35
IE00B000C709	+ 1.0	IE0032578035
OIZ	+ 0.9	UPR
BIRG	+ 0.81	OIZ
BIRG	+ 0.79	UPR

High negative correlations

OIZ	- 0.91	IE00B000C709
OIZ	- 0.91	IE00B065CV35
OIZ	- 0.9	IE0032578035
UPR	- 0.85	IE00B000C709
UPR	- 0.85	IE00B065CV35
8GW	- 0.84	UPR

Risk-Adjusted Indicators

There is a big difference between Franklin Fund performing well and Franklin Floating 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 Floating'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
IE00B065CV35	0.07	0.02	(0.40)	0.54	0.00	(0.11)	0.19	(0.13)	0.38
IE0032578035	0.07	0.02	0.00	0.67	0.00	0.00	0.15	(0.15)	0.44
IE00B000C709	0.07	0.02	(0.39)	0.67	0.00	(0.10)	0.17	(0.11)	0.38
DHG	0.99	0.12	0.04	9.04	1.13	(1.10)	2.00	(1.77)	7.17
UPR	1.40	(0.38)	0.00	(1.78)	0.00	0.00	2.27	(3.00)	8.56
0P0001EIH6	0.57	0.10	0.04	5.61	0.49	(0.64)	1.55	(0.94)	3.70
OIZ	1.46	(0.22)	0.00	(0.78)	0.00	0.00	3.36	(3.91)	9.31
0P0001EC8K	0.56	0.04	(0.04)	0.60	0.63	(0.63)	1.24	(1.17)	3.36
8GW	4.44	1.54	0.00	0.61	0.00	0.00	0.00	0.00	133.33
BIRG	1.49	(0.16)	0.00	0.73	0.00	0.00	3.31	(4.18)	11.75

Be your own money manager

Our tools can tell you how much better you can do entering a position in Franklin Floating without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Manager Now

Portfolio Manager

State of the art Portfolio Manager to monitor and improve performance of your invested capital

All Next

Launch Module

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