Templeton Dragon Correlations

TDF Fund

USD 9.85 0.04 0.40%

The current 90-days correlation between Templeton Dragon Closed and Nuveen Municipalome is -0.03 (i.e., Good 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 0.16 (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

0.75	DNP	Dnp Select Income	Pair Corr
0.61	NVG	Nuveen Amt Free	Pair Corr
0.76	UTF	Cohen And Steers	Pair Corr
0.71	NAC	Nuveen California	Pair Corr
0.88	HRBDX	Harbor Bond Fund	Pair Corr
0.87	VICSX	Vanguard Intermediate-ter	Pair Corr
0.91	SAEMX	Sa Emerging Markets	Pair Corr
0.74	DLDFX	Destinations Low Duration	Pair Corr
0.89	ABNOX	Ab Bond Inflation	Pair Corr
0.72	DBIWX	Dws Global Macro	Pair Corr
0.92	EMBAX	Unconstrained Emerging	Pair Corr
0.8	HTD	John Hancock Tax	Pair Corr
0.96	BISMX	Brandes International	Pair Corr
0.96	GF	New Germany Closed	Pair Corr
0.86	USGDX	Morgan Stanley Government	Pair Corr
0.92	ARBOX	Absolute Convertible	Pair Corr
0.8	SGDLX	Sprott Gold Equity	Pair Corr
0.81	GIOIX	Guggenheim Macro Opp	Pair Corr

Moving against Templeton Fund

0.63

CSQ

Calamos Strategic Total

Pair Corr

Related Correlations Analysis

	NMI	IGI	TEI	MFV	HQL	THW	THQ	RVT	BTO	JPI
NMI		0.74	0.89	0.0	0.47	0.92	0.91	-0.33	-0.02	0.61	NMI
IGI	0.74		0.69	0.0	0.4	0.63	0.61	-0.38	-0.06	0.69	IGI
TEI	0.89	0.69		0.0	0.43	0.89	0.91	-0.4	-0.11	0.55	TEI
MFV	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MFV
HQL	0.47	0.4	0.43	0.0		0.61	0.58	0.52	0.72	0.78	HQL
THW	0.92	0.63	0.89	0.0	0.61		0.99	-0.16	0.14	0.7	THW
THQ	0.91	0.61	0.91	0.0	0.58	0.99		-0.19	0.11	0.66	THQ
RVT	-0.33	-0.38	-0.4	0.0	0.52	-0.16	-0.19		0.9	0.24	RVT
BTO	-0.02	-0.06	-0.11	0.0	0.72	0.14	0.11	0.9		0.53	BTO
JPI	0.61	0.69	0.55	0.0	0.78	0.7	0.66	0.24	0.53		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	+ 0.99	THW
THW	+ 0.92	NMI
THQ	+ 0.91	NMI
THQ	+ 0.91	TEI
BTO	+ 0.9	RVT
TEI	+ 0.89	NMI

High negative correlations

RVT	- 0.4	TEI
RVT	- 0.38	IGI
RVT	- 0.33	NMI
RVT	- 0.19	THQ
RVT	- 0.16	THW
BTO	- 0.11	TEI

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	0.43	0.08	0.17	0.41	0.47	(0.51)	1.02	(0.83)	3.11
IGI	0.32	(0.01)	0.06	0.05	0.44	(0.30)	0.55	(0.67)	1.51
TEI	0.58	0.10	0.17	0.36	0.53	(0.74)	1.32	(0.99)	3.02
MFV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HQL	0.92	0.01	0.00	(0.02)	0.00	0.00	2.07	(1.73)	5.35
THW	0.63	0.14	0.20	0.29	0.62	(0.69)	1.40	(1.24)	3.96
THQ	0.85	0.20	0.23	0.26	0.74	(1.01)	1.92	(1.33)	4.40
RVT	0.90	(0.07)	0.00	(0.14)	0.00	0.00	1.58	(1.97)	5.97
BTO	1.08	(0.06)	0.00	(0.10)	0.00	0.00	2.30	(2.35)	6.87
JPI	0.48	(0.02)	0.00	0.59	0.00	0.00	0.93	(1.08)	2.90

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