Templeton Developing Correlations

FDEVX Fund

USD 29.59 0.25 0.85%

The current 90-days correlation between Templeton Developing and Templeton Foreign Fund is 0.22 (i.e., Modest diversification). The correlation of Templeton Developing 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 Developing Correlation With Market

Poor diversification

The correlation between Templeton Developing Markets and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Templeton Developing Markets 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 Developing Markets. 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 real.

Moving together with Templeton Mutual Fund

0.82	PEYAX	Putnam Equity Income	Pair Corr
0.84	TEBIX	Franklin Mutual Beacon	Pair Corr
0.99	TEDMX	Templeton Developing	Pair Corr
0.82	TEDIX	Franklin Mutual Global	Pair Corr
0.85	TEDSX	Franklin Mutual Global	Pair Corr
0.84	TEDRX	Franklin Mutual Global	Pair Corr
0.96	TEFRX	Templeton Foreign	Pair Corr
0.96	TEFTX	Templeton Foreign	Pair Corr
0.9	TEGBX	Templeton Global Bond	Pair Corr
0.74	TEGRX	Templeton Growth	Pair Corr
0.96	TEMFX	Templeton Foreign	Pair Corr
0.91	TEMGX	Templeton Global Smaller	Pair Corr
0.84	TEMEX	Franklin Mutual Beacon	Pair Corr
0.86	TEMIX	Franklin Mutual European	Pair Corr
0.68	FRBRX	Franklin Biotechnology	Pair Corr
0.88	FRBSX	Franklin Balance Sheet	Pair Corr
0.86	FRGOX	Franklin Gold Precious	Pair Corr
0.93	FRLEX	Franklin Lifesmart 2050	Pair Corr
0.87	FRRSX	Franklin Real Estate	Pair Corr
0.93	FASCX	Franklin K2 Alternative	Pair Corr
0.91	FTFZX	Franklin Federal Lim	Pair Corr
1.0	FCEEX	Franklin Fund Allocator	Pair Corr
0.62	SHRAX	Clearbridge Aggressive	Pair Corr
0.82	PNSAX	Putnam Small Cap	Pair Corr
0.83	PNSCX	Putnam Small Cap	Pair Corr
0.82	FHIRX	Franklin High Income	Pair Corr
0.87	FHYIX	Franklin High Yield	Pair Corr
0.87	FHYVX	Franklin High Yield	Pair Corr
0.82	FISCX	Franklin Convertible	Pair Corr
0.9	GOBAX	Legg Mason Bw	Pair Corr
0.93	PRCCX	Putnam Convertible Incm	Pair Corr
0.86	LANIX	Qs Growth Fund	Pair Corr
0.78	SMYIX	Qs Global Equity	Pair Corr
0.94	LFLCX	Legg Mason Global	Pair Corr
0.98	VEMAX	Vanguard Emerging Markets	Pair Corr
0.98	VEIEX	Vanguard Emerging Markets	Pair Corr

Related Correlations Analysis

	TEDMX	TEFRX	TEFTX	TEGBX	TEGTX	TEGRX	TEGOX	TEGPX	TEMFX
TEDMX		0.93	0.95	0.89	0.0	0.72	0.0	0.0	0.95	TEDMX
TEFRX	0.93		0.98	0.88	0.0	0.87	0.0	0.0	0.98	TEFRX
TEFTX	0.95	0.98		0.88	0.0	0.86	0.0	0.0	1.0	TEFTX
TEGBX	0.89	0.88	0.88		0.0	0.67	0.0	0.0	0.88	TEGBX
TEGTX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	TEGTX
TEGRX	0.72	0.87	0.86	0.67	0.0		0.0	0.0	0.86	TEGRX
TEGOX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	TEGOX
TEGPX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TEGPX
TEMFX	0.95	0.98	1.0	0.88	0.0	0.86	0.0	0.0		TEMFX
	TEDMX	TEFRX	TEFTX	TEGBX	TEGTX	TEGRX	TEGOX	TEGPX	TEMFX

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

TEMFX	+ 1.0	TEFTX
TEFTX	+ 0.98	TEFRX
TEMFX	+ 0.98	TEFRX
TEFTX	+ 0.95	TEDMX
TEMFX	+ 0.95	TEDMX
TEFRX	+ 0.93	TEDMX

High negative correlations

TEMFX	- 0.0	TEGPX
TEMFX	- 0.0	TEGOX
TEGPX	- 0.0	TEGOX
TEGPX	- 0.0	TEGRX
TEGOX	- 0.0	TEGRX
TEMFX	- 0.0	TEGTX

Risk-Adjusted Indicators

There is a big difference between Templeton Mutual Fund performing well and Templeton Developing 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 Developing'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
TEDMX	0.73	0.19	0.18	1.27	0.55	(0.81)	1.87	(1.14)	3.95
TEFRX	0.56	0.12	0.13	0.21	0.48	(0.65)	1.47	(1.01)	3.49
TEFTX	0.59	0.13	0.11	1.18	0.55	(0.65)	1.52	(1.18)	3.49
TEGBX	0.25	0.03	(0.02)	0.20	0.19	(0.34)	0.56	(0.42)	1.90
TEGTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TEGRX	0.78	0.27	0.30	0.57	0.35	(0.94)	1.30	(1.27)	16.99
TEGOX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TEGPX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TEMFX	0.58	0.13	0.12	1.13	0.53	(0.65)	1.43	(1.08)	3.51

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