Templeton Dragon Correlations

TDF Fund

USD 9.44 0.05 0.53%

The current 90-days correlation between Templeton Dragon Closed and Nuveen Municipalome is 0.09 (i.e., Significant diversification). The correlation of Templeton Dragon 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.

Templeton Dragon Correlation With Market

Average diversification

The correlation between Templeton Dragon Closed and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Templeton Dragon Closed 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 Templeton Dragon Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Templeton Fund

0.65	FAX	Aberdeen Asia Pacific	Pair Corr
0.72	JHYIX	Aberdeen Global High	Pair Corr
0.66	RBNAX	Robinson Opportunistic	Pair Corr
0.8	MDIKX	Mfs International	Pair Corr
0.9	PIEJX	International Emerging	Pair Corr
0.76	LGI	Lazard Global Total	Pair Corr
0.78	APDKX	Artisan International	Pair Corr
0.61	MCSRX	Mfs Modity Strategy	Pair Corr
0.75	PWLEX	Pimco Rae Worldwide	Pair Corr
0.8	LEOOX	Lazard Enhanced Oppo	Pair Corr
0.86	FCEEX	Franklin Fund Allocator	Pair Corr
0.74	GCMDX	Goldman Sachs Local	Pair Corr

Moving against Templeton Fund

0.4	SRPSX	Short Real Estate	Pair Corr
0.33	NOM	Nuveen Missouri Quality	Pair Corr

Related Correlations Analysis

	NMI	IGI	TEI	MFV	HQL	THW	THQ	RVT	BTO	JPI
NMI		0.53	0.58	0.0	0.54	0.79	0.81	0.3	0.28	0.6	NMI
IGI	0.53		0.61	0.0	0.75	0.56	0.52	0.26	0.61	0.83	IGI
TEI	0.58	0.61		0.0	0.65	0.8	0.69	0.22	0.64	0.67	TEI
MFV	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MFV
HQL	0.54	0.75	0.65	0.0		0.76	0.74	0.49	0.67	0.77	HQL
THW	0.79	0.56	0.8	0.0	0.76		0.96	0.59	0.7	0.76	THW
THQ	0.81	0.52	0.69	0.0	0.74	0.96		0.65	0.64	0.72	THQ
RVT	0.3	0.26	0.22	0.0	0.49	0.59	0.65		0.71	0.57	RVT
BTO	0.28	0.61	0.64	0.0	0.67	0.7	0.64	0.71		0.81	BTO
JPI	0.6	0.83	0.67	0.0	0.77	0.76	0.72	0.57	0.81		JPI
	NMI	IGI	TEI	MFV	HQL	THW	THQ	RVT	BTO	JPI

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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

THQ	+ 0.96	THW
JPI	+ 0.83	IGI
THQ	+ 0.81	NMI
JPI	+ 0.81	BTO
THW	+ 0.8	TEI
THW	+ 0.79	NMI

High negative correlations

JPI	- 0.0	MFV
BTO	- 0.0	MFV
RVT	- 0.0	MFV
THQ	- 0.0	MFV
THW	- 0.0	MFV
HQL	- 0.0	MFV

Risk-Adjusted Indicators

There is a big difference between Templeton Fund performing well and Templeton Dragon 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 Dragon'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
NMI	0.41	0.08	0.13	0.77	0.35	(0.49)	1.02	(0.83)	2.46
IGI	0.29	0.02	0.03	0.22	0.38	(0.29)	0.49	(0.72)	1.40
TEI	0.57	0.06	0.07	(0.65)	0.58	(0.68)	1.31	(0.98)	2.88
MFV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HQL	0.83	0.09	0.07	(1.28)	1.22	(0.79)	2.19	(1.67)	7.08
THW	0.67	0.08	0.08	0.19	0.74	(0.72)	1.40	(1.24)	3.44
THQ	0.84	0.14	0.14	0.22	0.82	(0.96)	1.96	(1.40)	4.82
RVT	0.81	(0.01)	(0.01)	(0.01)	1.04	(0.84)	1.61	(1.43)	5.35
BTO	0.94	(0.06)	0.00	(0.07)	0.00	0.00	2.31	(1.94)	6.94
JPI	0.48	(0.01)	(0.02)	(0.04)	0.61	(0.59)	0.90	(1.02)	3.45

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