Franklin Covey Correlations

Stocks . USA . 
Stock . Franklin Covey
FC Stock  USD 28.01  0.01  0.04%   
The current 90-days correlation between Franklin Covey and Thermon Group Holdings is 0.33 (i.e., Weak diversification). The correlation of Franklin Covey 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 Covey Correlation With Market

Very weak diversification

The correlation between Franklin Covey and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Covey 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 Covey. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.
For information on how to trade Franklin Stock refer to our How to Trade Franklin Stock guide.

Moving together with Franklin Stock

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  0.88FORR Forrester ResearchPairCorr
  0.8CLH Clean HarborsPairCorr
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  0.74DLX DeluxePairCorr
  0.84DNB Dun Bradstreet HoldingsPairCorr

Moving against Franklin Stock

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  0.44MG Mistras GroupPairCorr
  0.41WLDN Willdan GroupPairCorr
  0.37LZ LegalZoomPairCorr
  0.59GFL Gfl EnvironmentalPairCorr
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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   
FOR
+ 0.82
FORR
ALG
+ 0.38
THR
FORR
+ 0.28
CRAI
FOR
+ 0.12
CRAI
ALG
+ 0.12
CRAI
THR
+ 0.07
CRAI
  
High negative correlations   
FORR
- 0.23
THR
ALG
- 0.17
FOR
FOR
- 0.05
THR
ALG
- 0.04
FORR

Risk-Adjusted Indicators

There is a big difference between Franklin Stock performing well and Franklin Covey Company 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 Covey'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.

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