Templeton World Correlations

Mutual Funds . USA . 
Fund . Templeton World Fund
TEWTX Fund  USD 16.03  0.16  1.01%   
The current 90-days correlation between Templeton World and Harbor Diversified International is 0.71 (i.e., Poor diversification). The correlation of Templeton World 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 World Correlation With Market

Very weak diversification

The correlation between Templeton World Fund and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Templeton World Fund 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 World Fund. 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 estimate.

Moving together with TEMPLETON Mutual Fund

  0.8TEMGX Templeton Global SmallerPairCorr
  1.0TEMWX Templeton WorldPairCorr
  0.83TEMTX Franklin Mutual SharesPairCorr
  0.95SAIFX Clearbridge Large CapPairCorr
  0.69SAGYX Clearbridge AggressivePairCorr
  0.87TWDAX Templeton WorldPairCorr
  0.91TESIX Franklin Mutual SharesPairCorr
  0.8TESGX Templeton Global SmallerPairCorr
  0.91TESRX Franklin Mutual SharesPairCorr
  0.69SAPYX Clearbridge AppreciationPairCorr
  0.65SASMX Clearbridge Small CapPairCorr

Moving against TEMPLETON Mutual Fund

  0.43WAADX Western Asset SmashPairCorr

Related Correlations Analysis

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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   
MDBLX
+ 0.99
PQCNX
MDBLX
+ 0.89
HIIDX
PQCNX
+ 0.87
HIIDX
PGFCX
+ 0.76
HIIDX
PGFCX
+ 0.7
MDBLX
PGFCX
+ 0.68
PQCNX
  
High negative correlations   
SRDAX
- 0.42
PQCNX
SRDAX
- 0.4
MDBLX
SRDAX
- 0.31
HIIDX
SRDAX
- 0.11
PGFCX

Risk-Adjusted Indicators

There is a big difference between TEMPLETON Mutual Fund performing well and Templeton World 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 World'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.

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