Templeton Global Correlations

FGBRX Fund

USD 6.78 0.03 0.44%

The current 90-days correlation between Templeton Global Bond and Guidemark Large Cap is 0.52 (i.e., Very weak diversification). The correlation of Templeton Global 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.

Templeton Global Correlation With Market

Modest diversification

The correlation between Templeton Global Bond 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 Templeton Global Bond 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 Templeton Global Bond. 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 metropolitan statistical area.

Moving together with Templeton Mutual Fund

0.81	TEBIX	Franklin Mutual Beacon	Pair Corr
0.77	TEDMX	Templeton Developing	Pair Corr
0.83	TEDIX	Franklin Mutual Global	Pair Corr
0.88	TEDSX	Franklin Mutual Global	Pair Corr
0.83	TEDRX	Franklin Mutual Global	Pair Corr
0.9	TEFRX	Templeton Foreign	Pair Corr
0.9	TEFTX	Templeton Foreign	Pair Corr
0.94	TEGBX	Templeton Global Bond	Pair Corr
0.9	TEMFX	Templeton Foreign	Pair Corr
0.87	TEMEX	Franklin Mutual Beacon	Pair Corr
0.92	TEMIX	Franklin Mutual European	Pair Corr
0.91	TEMQX	Mutual Quest	Pair Corr
0.64	FQCHX	Franklin Templeton Smacs	Pair Corr
0.83	TEQIX	Franklin Mutual Quest	Pair Corr
0.78	LGGAX	Clearbridge International	Pair Corr
0.92	TEURX	Franklin Mutual European	Pair Corr
0.98	LGIEX	Qs International Equity	Pair Corr
0.92	WAARX	Western Asset Total	Pair Corr

Moving against Templeton Mutual Fund

0.38	TEMGX	Templeton Global Smaller	Pair Corr
0.4	TESGX	Templeton Global Smaller	Pair Corr
0.39	SAGYX	Clearbridge Aggressive	Pair Corr
0.46	SASMX	Clearbridge Small Cap	Pair Corr
0.35	SAPYX	Clearbridge Appreciation	Pair Corr

Related Correlations Analysis

	GMLVX	JDVNX	VAAGX	TRCPX	CMIFX	AMFFX
GMLVX		0.06	0.08	0.5	0.64	0.5	GMLVX
JDVNX	0.06		0.76	0.41	-0.38	0.57	JDVNX
VAAGX	0.08	0.76		0.72	-0.19	0.8	VAAGX
TRCPX	0.5	0.41	0.72		0.31	0.8	TRCPX
CMIFX	0.64	-0.38	-0.19	0.31		0.29	CMIFX
AMFFX	0.5	0.57	0.8	0.8	0.29		AMFFX
	GMLVX	JDVNX	VAAGX	TRCPX	CMIFX	AMFFX

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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

AMFFX	+ 0.8	VAAGX
AMFFX	+ 0.8	TRCPX
VAAGX	+ 0.76	JDVNX
TRCPX	+ 0.72	VAAGX
CMIFX	+ 0.64	GMLVX
AMFFX	+ 0.57	JDVNX

High negative correlations

CMIFX	- 0.38	JDVNX
CMIFX	- 0.19	VAAGX

Risk-Adjusted Indicators

There is a big difference between Templeton Mutual Fund performing well and Templeton Global 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 Templeton Global'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
GMLVX	0.71	0.03	0.05	0.05	0.92	(0.76)	1.57	(1.62)	5.51
JDVNX	0.87	(0.17)	0.00	(0.27)	0.00	0.00	1.24	(1.95)	10.15
VAAGX	0.71	(0.10)	0.00	0.66	0.00	0.00	1.22	(1.63)	3.33
TRCPX	0.67	0.04	0.05	0.01	0.86	(0.71)	1.27	(1.53)	3.55
CMIFX	0.07	0.01	0.32	(0.62)	0.00	(0.12)	0.10	(0.10)	0.41
AMFFX	0.63	(0.09)	0.00	0.51	0.00	0.00	1.09	(1.46)	4.69

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