Franklin Mutual Correlations

TESIX Fund  USD 26.54  0.17  0.64%   
The current 90-days correlation between Franklin Mutual Shares and Templeton Growth Fund is 0.78 (i.e., Poor diversification). The correlation of Franklin Mutual 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 Mutual Correlation With Market

Very poor diversification

The correlation between Franklin Mutual Shares and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Mutual Shares and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Franklin Mutual Shares. 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 gross domestic product.

Moving together with Franklin Mutual Fund

  0.86CGRGX American Funds GrowthPairCorr
  0.86FPGGX American Funds GrowthPairCorr
  0.86FGPGX American Funds GrowthPairCorr
  0.86MUTHX Franklin Mutual SharesPairCorr
  0.86TESRX Franklin Mutual SharesPairCorr
  0.86FMSHX Franklin Mutual SharesPairCorr
  0.86GWPCX American Funds GrowthPairCorr
  0.86GWPFX American Funds GrowthPairCorr
  0.98GWPAX American Funds GrowthPairCorr
  0.98CGQGX American Funds GrowthPairCorr
  0.8GAAKX Gmo Alternative AlloPairCorr
  0.86GAAGX Gmo Alternative AlloPairCorr
  0.67GPBFX Gmo E PlusPairCorr
  0.97CVLOX Calamos Global GrowthPairCorr
  0.92MAUKX Pioneer Multi AssetPairCorr
  0.81UIVMX Mfs Intrinsic ValuePairCorr
  0.64CVX Chevron Corp Earnings Call This WeekPairCorr

Moving against Franklin Mutual Fund

  0.56TRV The Travelers CompaniesPairCorr
  0.52MCD McDonaldsPairCorr
  0.37VZ Verizon Communications Aggressive PushPairCorr
  0.36WMT WalmartPairCorr
  0.31HPQ HP IncPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Mutual 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 Mutual'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.