Templeton Global Correlations

TPINX Fund

USD 6.82 0.01 0.15%

The current 90-days correlation between Templeton Global Bond and Franklin Mutual Beacon is 0.23 (i.e., Modest 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

Good diversification

The correlation between Templeton Global Bond and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Templeton Global Bond 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 Bond. 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 board of governors.

Moving together with TEMPLETON Mutual Fund

0.74	TEFRX	Templeton Foreign	Pair Corr
0.98	TEGBX	Templeton Global Bond	Pair Corr
0.96	WABAX	Western Asset E	Pair Corr
0.93	WAFAX	Western Asset Inflation	Pair Corr
0.69	FRCTX	Franklin California Tax	Pair Corr
0.86	SBIEX	Clearbridge International	Pair Corr
0.79	TFSCX	Foreign Smaller Panies	Pair Corr
0.64	FRORX	Franklin Oregon Tax	Pair Corr
0.88	FRSTX	Franklin Strategic Income	Pair Corr
0.96	FRUGX	Franklin Government	Pair Corr

Moving against TEMPLETON Mutual Fund

0.77	SAGYX	Clearbridge Aggressive	Pair Corr
0.76	SAIFX	Clearbridge Large Cap	Pair Corr
0.67	FRAAX	Franklin Growth Oppo	Pair Corr
0.53	FRDPX	Franklin Rising Dividends	Pair Corr
0.53	FRDTX	Franklin Rising Dividends	Pair Corr
0.46	TWDAX	Templeton World	Pair Corr
0.44	TEWTX	Templeton World	Pair Corr
0.36	FQTEX	Franklin Strategic Series	Pair Corr
0.8	FROTX	Franklin Convertible	Pair Corr
0.54	FRISX	Franklin Rising Dividends	Pair Corr
0.52	FRUAX	Franklin Utilities	Pair Corr
0.42	FRLEX	Franklin Lifesmart 2050	Pair Corr
0.42	FRNRX	Franklin Natural Res	Pair Corr

Related Correlations Analysis

	TEBIX	TEDMX	TEDIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMFX
TEBIX		0.13	0.61	0.36	0.61	0.02	-0.04	-0.19	0.73	0.02	TEBIX
TEDMX	0.13		0.54	0.43	0.52	0.54	0.49	0.0	0.54	0.55	TEDMX
TEDIX	0.61	0.54		0.75	1.0	0.76	0.67	0.46	0.78	0.76	TEDIX
TEDSX	0.36	0.43	0.75		0.75	0.66	0.8	0.49	0.6	0.65	TEDSX
TEDRX	0.61	0.52	1.0	0.75		0.77	0.68	0.47	0.77	0.77	TEDRX
TEFRX	0.02	0.54	0.76	0.66	0.77		0.91	0.74	0.43	1.0	TEFRX
TEFTX	-0.04	0.49	0.67	0.8	0.68	0.91		0.74	0.37	0.91	TEFTX
TEGBX	-0.19	0.0	0.46	0.49	0.47	0.74	0.74		0.01	0.74	TEGBX
TEGRX	0.73	0.54	0.78	0.6	0.77	0.43	0.37	0.01		0.43	TEGRX
TEMFX	0.02	0.55	0.76	0.65	0.77	1.0	0.91	0.74	0.43		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
TEFTX	+ 0.8	TEDSX
TEGRX	+ 0.78	TEDIX

High negative correlations

TEGBX	- 0.19	TEBIX
TEFTX	- 0.04	TEBIX
TEGBX	- 0.0	TEDMX

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
TEBIX	0.49	(0.05)	(0.15)	0.04	0.57	(0.52)	0.88	(1.01)	2.80
TEDMX	0.88	(0.04)	(0.10)	0.04	0.98	(1.10)	1.87	(2.00)	6.20
TEDIX	0.51	(0.08)	(0.18)	0.00	0.65	(0.51)	1.13	(1.05)	2.77
TEDSX	0.51	0.00	0.00	0.13	0.00	0.00	1.13	(1.05)	2.76
TEDRX	0.51	(0.08)	(0.18)	0.00	0.66	(0.50)	1.12	(1.08)	2.76
TEFRX	0.82	(0.14)	0.00	(0.16)	0.00	0.00	1.92	(2.08)	5.42
TEFTX	0.83	(0.07)	0.00	0.60	0.00	0.00	1.87	(2.10)	5.46
TEGBX	0.47	(0.13)	0.00	(1.13)	0.00	0.00	0.83	(1.00)	2.75
TEGRX	0.57	(0.10)	(0.17)	(0.01)	0.70	(0.64)	1.23	(0.88)	3.31
TEMFX	0.81	(0.15)	0.00	(0.16)	0.00	0.00	1.87	(2.14)	5.45

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