Franklin Templeton Correlations

FQCHX Fund

USD 8.84 0.01 0.11%

The current 90-days correlation between Franklin Templeton Smacs and California High Yield Municipal is 0.78 (i.e., Poor diversification). The correlation of Franklin Templeton 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 Templeton Correlation With Market

Modest diversification

The correlation between Franklin Templeton Smacs and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Templeton Smacs 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 Templeton Smacs. 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 rate.

Moving together with Franklin Mutual Fund

0.61	TEDMX	Templeton Developing	Pair Corr
0.64	TEMMX	Templeton Emerging	Pair Corr
0.74	TEMWX	Templeton World	Pair Corr
0.85	FQCTX	Franklin Necticut Tax	Pair Corr
0.82	SAGYX	Clearbridge Aggressive	Pair Corr
0.65	TEMZX	Templeton Emerging	Pair Corr
0.81	FQEMX	Franklin Templeton Smacs	Pair Corr
0.75	TWDAX	Templeton World	Pair Corr
0.72	LGGAX	Clearbridge International	Pair Corr
0.91	FQLAX	Franklin Louisiana Tax	Pair Corr
0.73	TEWTX	Templeton World	Pair Corr
0.9	SAPYX	Clearbridge Appreciation	Pair Corr
0.9	FQNCX	Franklin North Carolina	Pair Corr
0.9	FQMDX	Franklin Maryland Tax	Pair Corr
0.9	WAADX	Western Asset Smash	Pair Corr
0.71	WAARX	Western Asset Total	Pair Corr

Related Correlations Analysis

	BCHYX	TWTIX	444859BR2	AQUI	ABHYX	LBHIX	MSTSX	VIASP	GBEMX	DREQX
BCHYX		0.89	0.8	0.0	0.99	0.86	0.65	0.8	0.67	0.87	BCHYX
TWTIX	0.89		0.7	0.0	0.85	0.65	0.5	0.48	0.48	0.63	TWTIX
444859BR2	0.8	0.7		0.0	0.82	0.82	0.59	0.67	0.55	0.77	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
ABHYX	0.99	0.85	0.82	0.0		0.89	0.68	0.84	0.7	0.91	ABHYX
LBHIX	0.86	0.65	0.82	0.0	0.89		0.8	0.87	0.8	0.89	LBHIX
MSTSX	0.65	0.5	0.59	0.0	0.68	0.8		0.73	0.86	0.67	MSTSX
VIASP	0.8	0.48	0.67	0.0	0.84	0.87	0.73		0.76	0.92	VIASP
GBEMX	0.67	0.48	0.55	0.0	0.7	0.8	0.86	0.76		0.76	GBEMX
DREQX	0.87	0.63	0.77	0.0	0.91	0.89	0.67	0.92	0.76		DREQX
	BCHYX	TWTIX	444859BR2	AQUI	ABHYX	LBHIX	MSTSX	VIASP	GBEMX	DREQX

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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

ABHYX	+ 0.99	BCHYX
DREQX	+ 0.92	VIASP
DREQX	+ 0.91	ABHYX
TWTIX	+ 0.89	BCHYX
LBHIX	+ 0.89	ABHYX
DREQX	+ 0.89	LBHIX

High negative correlations

DREQX	- 0.0	AQUI
GBEMX	- 0.0	AQUI
VIASP	- 0.0	AQUI
MSTSX	- 0.0	AQUI
LBHIX	- 0.0	AQUI
ABHYX	- 0.0	AQUI

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Templeton 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 Templeton'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
BCHYX	0.17	0.01	0.09	0.09	0.14	(0.23)	0.41	(0.31)	1.24
TWTIX	0.12	(0.01)	0.04	(0.08)	0.12	(0.18)	0.28	(0.28)	0.65
444859BR2	0.47	0.03	0.08	2.03	0.50	(0.52)	1.12	(0.79)	2.67
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ABHYX	0.17	0.02	0.10	0.17	0.12	(0.22)	0.34	(0.35)	1.03
LBHIX	0.17	0.01	0.07	0.10	0.12	(0.31)	0.49	(0.25)	0.98
MSTSX	0.47	0.02	0.03	0.01	0.73	(0.44)	0.90	(1.29)	2.89
VIASP	1.29	0.26	0.12	0.21	1.89	(1.31)	3.96	(2.61)	13.41
GBEMX	0.54	0.08	0.09	0.17	0.74	(0.52)	1.08	(1.38)	3.47
DREQX	0.73	0.10	0.11	0.13	0.81	(0.83)	1.66	(1.67)	4.22

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