Templeton Constrained Correlations

FTCAX Fund

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The current 90-days correlation between Templeton Strained Bond and Artisan Select Equity is 0.37 (i.e., Weak diversification). The correlation of Templeton Constrained 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 Constrained Correlation With Market

Good diversification

The correlation between Templeton Strained Bond and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Templeton Strained 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 Strained 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 nation.

Moving together with Templeton Mutual Fund

0.92	VGTSX	Vanguard Total Inter	Pair Corr
0.92	VTIAX	Vanguard Total Inter	Pair Corr
0.74	GAAVX	Gmo Alternative Allo	Pair Corr
0.77	GABFX	Gmo Asset Allocation	Pair Corr
0.9	GHVIX	Gmo High Yield	Pair Corr
0.8	CVX	Chevron Corp	Pair Corr
0.72	TRV	The Travelers Companies	Pair Corr
0.82	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.63	INTC	Intel Sell-off Trend	Pair Corr
0.93	JNJ	Johnson Johnson	Pair Corr
0.93	T	ATT Inc Aggressive Push	Pair Corr
0.71	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Moving against Templeton Mutual Fund

0.55	GCAVX	Gmo Small Cap	Pair Corr
0.38	GMCQX	Gmo Equity Allocation	Pair Corr
0.37	VITSX	Vanguard Total Stock	Pair Corr
0.36	VTSAX	Vanguard Total Stock	Pair Corr
0.36	VTSMX	Vanguard Total Stock	Pair Corr
0.36	VSTSX	Vanguard Total Stock	Pair Corr
0.36	VSMPX	Vanguard Total Stock	Pair Corr
0.33	VFIAX	Vanguard 500 Index	Pair Corr
0.33	VFINX	Vanguard 500 Index	Pair Corr
0.33	VFFSX	Vanguard 500 Index	Pair Corr
0.82	MSFT	Microsoft Aggressive Push	Pair Corr
0.67	MRK	Merck Company	Pair Corr
0.55	DIS	Walt Disney	Pair Corr
0.53	HPQ	HP Inc	Pair Corr
0.44	AXP	American Express	Pair Corr

Related Correlations Analysis

	ARTNX	OWFIX	PMIEX	QMNIX	DHGCX	PEIRX	CIESX	QLENX
ARTNX		0.67	0.55	0.74	0.66	0.56	0.92	0.84	ARTNX
OWFIX	0.67		0.61	0.9	0.81	0.62	0.81	0.86	OWFIX
PMIEX	0.55	0.61		0.55	0.61	1.0	0.66	0.58	PMIEX
QMNIX	0.74	0.9	0.55		0.68	0.56	0.83	0.97	QMNIX
DHGCX	0.66	0.81	0.61	0.68		0.62	0.76	0.71	DHGCX
PEIRX	0.56	0.62	1.0	0.56	0.62		0.67	0.59	PEIRX
CIESX	0.92	0.81	0.66	0.83	0.76	0.67		0.88	CIESX
QLENX	0.84	0.86	0.58	0.97	0.71	0.59	0.88		QLENX
	ARTNX	OWFIX	PMIEX	QMNIX	DHGCX	PEIRX	CIESX	QLENX

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Risk-Adjusted Indicators

There is a big difference between Templeton Mutual Fund performing well and Templeton Constrained 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 Constrained'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
ARTNX	0.65	0.05	0.06	(0.33)	0.82	(0.69)	1.23	(1.48)	3.96
OWFIX	0.18	0.01	0.04	2.06	0.13	(0.22)	0.40	(0.40)	1.01
PMIEX	0.80	(0.07)	0.00	(0.15)	0.00	0.00	1.56	(1.68)	9.24
QMNIX	0.29	0.15	0.38	1.03	0.00	(0.41)	0.68	(0.39)	1.97
DHGCX	0.18	(0.01)	0.00	0.54	0.00	0.00	0.36	(0.36)	1.46
PEIRX	0.80	(0.06)	0.00	(0.14)	0.00	0.00	1.57	(1.66)	9.14
CIESX	0.68	0.04	0.03	(0.16)	0.95	(0.71)	1.58	(1.20)	5.26
QLENX	0.43	0.13	0.21	0.32	0.39	(0.48)	0.81	(0.65)	3.11

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