Templeton Global Correlations

TEMGX Fund

USD 9.12 0.10 1.11%

The current 90-days correlation between Templeton Global Smaller and Rationalpier 88 Convertible is -0.04 (i.e., Good 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

Poor diversification

The correlation between Templeton Global Smaller and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Templeton Global Smaller 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 Global Smaller. 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 price.

Moving together with Templeton Mutual Fund

0.78	TEMWX	Templeton World	Pair Corr
0.61	TEMTX	Franklin Mutual Shares	Pair Corr
0.78	SAIFX	Clearbridge Large Cap	Pair Corr
0.91	SAGYX	Clearbridge Aggressive	Pair Corr
0.68	TWDAX	Templeton World	Pair Corr
1.0	TESGX	Templeton Global Smaller	Pair Corr
0.78	TEWTX	Templeton World	Pair Corr
0.91	SAPYX	Clearbridge Appreciation	Pair Corr
0.91	SASMX	Clearbridge Small Cap	Pair Corr

Moving against Templeton Mutual Fund

0.41	TEMIX	Franklin Mutual European	Pair Corr
0.4	TEFRX	Templeton Foreign	Pair Corr
0.4	TEFTX	Templeton Foreign	Pair Corr
0.4	TEMFX	Templeton Foreign	Pair Corr
0.36	TEGBX	Templeton Global Bond	Pair Corr
0.41	TEURX	Franklin Mutual European	Pair Corr
0.38	LGIEX	Qs International Equity	Pair Corr
0.49	WAADX	Western Asset Smash	Pair Corr
0.49	SBAYX	Western Asset Adjustable	Pair Corr
0.43	WAARX	Western Asset Total	Pair Corr
0.42	WABAX	Western Asset E	Pair Corr
0.41	TFFAX	Templeton Foreign	Pair Corr
0.39	WACPX	Western Asset E	Pair Corr

Related Correlations Analysis

	PBXIX	FSAWX	CCD	GCV	ARBOX	PCNTX
PBXIX		-0.41	0.77	0.4	-0.29	0.93	PBXIX
FSAWX	-0.41		-0.78	0.3	0.98	-0.64	FSAWX
CCD	0.77	-0.78		0.16	-0.69	0.89	CCD
GCV	0.4	0.3	0.16		0.42	0.3	GCV
ARBOX	-0.29	0.98	-0.69	0.42		-0.52	ARBOX
PCNTX	0.93	-0.64	0.89	0.3	-0.52		PCNTX
	PBXIX	FSAWX	CCD	GCV	ARBOX	PCNTX

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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

ARBOX	+ 0.98	FSAWX
PCNTX	+ 0.93	PBXIX
PCNTX	+ 0.89	CCD
CCD	+ 0.77	PBXIX
ARBOX	+ 0.42	GCV
GCV	+ 0.4	PBXIX

High negative correlations

CCD	- 0.78	FSAWX
ARBOX	- 0.69	CCD
PCNTX	- 0.64	FSAWX
PCNTX	- 0.52	ARBOX
FSAWX	- 0.41	PBXIX
ARBOX	- 0.29	PBXIX

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
PBXIX	0.43	(0.04)	0.00	0.62	0.00	0.00	0.82	(0.90)	2.66
FSAWX	0.08	0.04	0.39	(1.05)	0.00	(0.14)	0.19	(0.10)	0.38
CCD	0.80	(0.10)	0.00	(0.20)	0.00	0.00	1.41	(1.67)	7.13
GCV	0.91	0.05	0.04	0.10	1.18	(1.00)	2.17	(2.14)	6.16
ARBOX	0.05	0.02	0.00	1.32	0.00	0.00	0.09	0.00	0.18
PCNTX	0.66	(0.08)	0.00	1.61	0.00	0.00	1.26	(1.68)	3.46

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