Franklin Income Correlations
| FCISX Fund | USD 2.34 0.01 0.43% |
The correlation of Franklin Income 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Franklin Income moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Franklin Income Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between Franklin Income Fund and NYA is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Income Fund and NYA in the same portfolio, assuming nothing else is changed.
Franklin |
The ability to find closely correlated positions to Franklin Income 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 Income 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 Income - 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 Income Fund to buy it.
Moving together with Franklin Mutual Fund
| 0.92 | TEBIX | Franklin Mutual Beacon | PairCorr |
| 0.83 | TEDMX | Templeton Developing | PairCorr |
| 0.94 | TEDIX | Franklin Mutual Global | PairCorr |
| 0.94 | TEDSX | Franklin Mutual Global | PairCorr |
| 0.94 | TEDRX | Franklin Mutual Global | PairCorr |
| 0.86 | TEFRX | Templeton Foreign | PairCorr |
| 0.86 | TEFTX | Templeton Foreign | PairCorr |
| 0.87 | TEFAX | Franklin Mutual Financial Steady Growth | PairCorr |
| 0.88 | TEGRX | Templeton Growth | PairCorr |
| 0.86 | TEMFX | Templeton Foreign | PairCorr |
| 0.86 | TEMGX | Templeton Global Smaller | PairCorr |
| 0.92 | TEMEX | Franklin Mutual Beacon | PairCorr |
| 0.77 | TEMMX | Templeton Emerging | PairCorr |
| 0.91 | TEMIX | Franklin Mutual European | PairCorr |
| 0.8 | TEMWX | Templeton World | PairCorr |
| 0.93 | TEMTX | Franklin Mutual Shares | PairCorr |
| 0.95 | TEMQX | Mutual Quest | PairCorr |
| 0.92 | SAIFX | Clearbridge Large Cap | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Franklin Mutual Fund performing well and Franklin Income 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 Income'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TEBIX | 0.49 | (0.02) | (0.04) | 0.05 | 0.58 | 0.88 | 2.97 | |||
| TEDMX | 0.64 | (0.01) | (0.01) | 0.07 | 0.72 | 1.33 | 4.40 | |||
| TEDIX | 0.43 | (0.02) | (0.06) | 0.05 | 0.59 | 0.78 | 2.69 | |||
| TEDSX | 0.43 | (0.03) | (0.06) | 0.04 | 0.60 | 0.77 | 2.67 | |||
| TEDRX | 0.43 | (0.02) | (0.06) | 0.05 | 0.58 | 0.76 | 2.71 | |||
| TEFRX | 0.60 | 0.00 | 0.00 | 0.07 | 0.73 | 1.08 | 3.73 | |||
| TEFTX | 0.60 | (0.01) | (0.01) | 0.07 | 0.74 | 1.15 | 3.76 | |||
| TEGBX | 0.36 | (0.12) | 0.00 | (0.19) | 0.00 | 0.57 | 2.43 | |||
| TEFAX | 0.57 | 0.08 | 0.08 | 0.19 | 0.63 | 1.18 | 2.70 | |||
| TEGRX | 0.53 | (0.01) | (0.02) | 0.06 | 0.64 | 0.93 | 3.26 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Franklin Income 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?
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Already Invested in Franklin Income Fund?
The danger of trading Franklin Income Fund is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Franklin Income is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Franklin Income. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Franklin Me Fund is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Franklin Income Fund. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in state. You can also try the Bonds Directory module to find actively traded corporate debentures issued by US companies.