Templeton Growth Correlations

TEGRX Fund

USD 27.46 0.15 0.55%

The current 90-days correlation between Templeton Growth and Franklin Mutual Beacon is 0.8 (i.e., Very poor diversification). The correlation of Templeton Growth 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 Growth Correlation With Market

Very poor diversification

The correlation between Templeton Growth Fund and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Templeton Growth 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 Growth 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 metropolitan statistical area.

Moving together with Templeton Mutual Fund

0.72	TEBIX	Franklin Mutual Beacon	Pair Corr
0.78	TEDIX	Franklin Mutual Global	Pair Corr
0.77	TEDRX	Franklin Mutual Global	Pair Corr
0.79	TEMGX	Templeton Global Smaller	Pair Corr
0.72	TEMEX	Franklin Mutual Beacon	Pair Corr
0.82	TEMWX	Templeton World	Pair Corr
0.76	TEMQX	Mutual Quest	Pair Corr
0.64	FQEMX	Franklin Templeton Smacs	Pair Corr
1.0	TEPLX	Templeton Growth	Pair Corr
0.82	TWDAX	Templeton World	Pair Corr
0.78	TESGX	Templeton Global Smaller	Pair Corr
0.83	TEWTX	Templeton World	Pair Corr
0.64	FQTEX	Franklin Strategic Series	Pair Corr

Related Correlations Analysis

	TEBIX	TEDMX	TEDIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMFX
TEBIX		0.1	0.61	0.34	0.61	-0.02	-0.1	-0.22	0.72	-0.02	TEBIX
TEDMX	0.1		0.52	0.43	0.51	0.56	0.51	0.02	0.54	0.56	TEDMX
TEDIX	0.61	0.52		0.74	1.0	0.74	0.64	0.44	0.78	0.74	TEDIX
TEDSX	0.34	0.43	0.74		0.74	0.65	0.78	0.49	0.59	0.65	TEDSX
TEDRX	0.61	0.51	1.0	0.74		0.75	0.64	0.45	0.77	0.75	TEDRX
TEFRX	-0.02	0.56	0.74	0.65	0.75		0.91	0.75	0.42	1.0	TEFRX
TEFTX	-0.1	0.51	0.64	0.78	0.64	0.91		0.75	0.35	0.91	TEFTX
TEGBX	-0.22	0.02	0.44	0.49	0.45	0.75	0.75		0.0	0.75	TEGBX
TEGRX	0.72	0.54	0.78	0.59	0.77	0.42	0.35	0.0		0.42	TEGRX
TEMFX	-0.02	0.56	0.74	0.65	0.75	1.0	0.91	0.75	0.42		TEMFX
	TEBIX	TEDMX	TEDIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMFX

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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

TEDRX	+ 1.0	TEDIX
TEMFX	+ 1.0	TEFRX
TEFTX	+ 0.91	TEFRX
TEMFX	+ 0.91	TEFTX
TEGRX	+ 0.78	TEDIX
TEFTX	+ 0.78	TEDSX

High negative correlations

TEGBX	- 0.22	TEBIX
TEFTX	- 0.1	TEBIX
TEMFX	- 0.02	TEBIX
TEFRX	- 0.02	TEBIX
TEGRX	- 0.0	TEGBX

Risk-Adjusted Indicators

There is a big difference between Templeton Mutual Fund performing well and Templeton Growth 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 Growth'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
TEBIX	0.48	(0.06)	(0.16)	0.03	0.58	(0.49)	0.84	(1.01)	2.80
TEDMX	0.85	(0.06)	(0.12)	(0.01)	0.99	(1.04)	1.84	(2.00)	6.20
TEDIX	0.50	(0.08)	(0.18)	(0.01)	0.66	(0.49)	0.88	(1.05)	2.77
TEDSX	0.51	0.01	(0.18)	0.03	0.66	(0.50)	1.13	(1.05)	2.76
TEDRX	0.50	(0.08)	(0.18)	(0.01)	0.66	(0.49)	0.87	(1.08)	2.76
TEFRX	0.80	(0.16)	0.00	(0.21)	0.00	0.00	1.86	(2.08)	5.42
TEFTX	0.83	(0.07)	0.00	0.60	0.00	0.00	1.87	(2.10)	5.46
TEGBX	0.46	(0.12)	0.00	(0.83)	0.00	0.00	0.83	(1.00)	2.75
TEGRX	0.56	(0.11)	0.00	(0.02)	0.00	0.00	1.23	(0.88)	3.25
TEMFX	0.80	(0.15)	0.00	(0.19)	0.00	0.00	1.81	(2.14)	5.45

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