Templeton Developing Correlations

TEDMX Fund

USD 25.60 0.10 0.39%

The current 90-days correlation between Templeton Developing and Templeton Developing Markets is -0.12 (i.e., Good 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

Very weak diversification

The correlation between Templeton Developing Markets and DJI is 0.54 (i.e., Very weak 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 World Market Map 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 industry.

Moving together with Templeton Mutual Fund

0.77	TEDIX	Franklin Mutual Global	Pair Corr
0.67	TEDSX	Franklin Mutual Global	Pair Corr
0.68	TEDRX	Franklin Mutual Global	Pair Corr
0.7	TEFRX	Templeton Foreign	Pair Corr
0.69	TEFTX	Templeton Foreign	Pair Corr
0.92	TEGRX	Templeton Growth	Pair Corr
0.71	TEMFX	Templeton Foreign	Pair Corr
0.67	TEMEX	Franklin Mutual Beacon	Pair Corr
0.64	TEMIX	Franklin Mutual European	Pair Corr
0.92	TEMWX	Templeton World	Pair Corr
0.94	FQCTX	Franklin Necticut Tax	Pair Corr
0.62	SAIFX	Clearbridge Large Cap	Pair Corr
0.93	FQCHX	Franklin Templeton Smacs	Pair Corr
0.98	FQEMX	Franklin Templeton Smacs	Pair Corr
0.84	TEPLX	Templeton Growth	Pair Corr
0.94	TWDAX	Templeton World	Pair Corr
0.85	LGGAX	Clearbridge International	Pair Corr
0.61	TEURX	Franklin Mutual European	Pair Corr
0.84	LGIEX	Qs International Equity	Pair Corr
0.93	FQLAX	Franklin Louisiana Tax	Pair Corr
0.91	TEWTX	Templeton World	Pair Corr
0.89	SAPYX	Clearbridge Appreciation	Pair Corr
0.93	FQNCX	Franklin North Carolina	Pair Corr
0.93	FQMDX	Franklin Maryland Tax	Pair Corr
0.79	WAADX	Western Asset Smash	Pair Corr
0.76	WAARX	Western Asset Total	Pair Corr

Moving against Templeton Mutual Fund

0.59	TEMGX	Templeton Global Smaller	Pair Corr
0.55	TEMTX	Franklin Mutual Shares	Pair Corr
0.6	TESGX	Templeton Global Smaller	Pair Corr
0.54	TESIX	Franklin Mutual Shares	Pair Corr
0.53	TESRX	Franklin Mutual Shares	Pair Corr

Related Correlations Analysis

	TDMTX	AMKIX	FGADX	SMBYX	SEQFX	CIPNX	GCMAX	CSVYX	HFCSX	RLITX
TDMTX		0.99	0.69	-0.44	0.99	-0.67	-0.05	0.24	0.58	0.56	TDMTX
AMKIX	0.99		0.7	-0.36	1.0	-0.63	-0.01	0.31	0.56	0.6	AMKIX
FGADX	0.69	0.7		-0.21	0.71	-0.58	-0.03	0.26	0.63	0.47	FGADX
SMBYX	-0.44	-0.36	-0.21		-0.34	0.85	0.67	0.56	-0.01	0.38	SMBYX
SEQFX	0.99	1.0	0.71	-0.34		-0.61	0.02	0.32	0.57	0.63	SEQFX
CIPNX	-0.67	-0.63	-0.58	0.85	-0.61		0.52	0.25	-0.3	0.04	CIPNX
GCMAX	-0.05	-0.01	-0.03	0.67	0.02	0.52		0.67	0.11	0.66	GCMAX
CSVYX	0.24	0.31	0.26	0.56	0.32	0.25	0.67		0.39	0.75	CSVYX
HFCSX	0.58	0.56	0.63	-0.01	0.57	-0.3	0.11	0.39		0.59	HFCSX
RLITX	0.56	0.6	0.47	0.38	0.63	0.04	0.66	0.75	0.59		RLITX
	TDMTX	AMKIX	FGADX	SMBYX	SEQFX	CIPNX	GCMAX	CSVYX	HFCSX	RLITX

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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

SEQFX	+ 1.0	AMKIX
AMKIX	+ 0.99	TDMTX
SEQFX	+ 0.99	TDMTX
CIPNX	+ 0.85	SMBYX
RLITX	+ 0.75	CSVYX
SEQFX	+ 0.71	FGADX

High negative correlations

CIPNX	- 0.67	TDMTX
CIPNX	- 0.63	AMKIX
CIPNX	- 0.61	SEQFX
CIPNX	- 0.58	FGADX
SMBYX	- 0.44	TDMTX
SMBYX	- 0.36	AMKIX

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
TDMTX	0.76	0.10	0.07	0.91	0.89	(0.84)	1.53	(1.09)	4.85
AMKIX	0.76	0.10	0.06	1.11	0.96	(0.84)	1.63	(1.16)	5.60
FGADX	1.78	0.40	0.13	(2.22)	2.31	(1.90)	3.50	(4.06)	11.81
SMBYX	0.66	(0.11)	0.00	(0.07)	0.00	0.00	1.35	(1.45)	4.29
SEQFX	0.62	0.06	0.02	0.72	0.81	(0.69)	1.27	(1.11)	4.55
CIPNX	0.91	(0.13)	0.00	(0.06)	0.00	0.00	1.73	(2.10)	6.08
GCMAX	0.56	(0.07)	0.00	1.73	0.00	0.00	1.05	(1.50)	3.88
CSVYX	0.80	0.03	(0.02)	(0.11)	1.01	(0.90)	1.76	(1.50)	5.35
HFCSX	1.50	0.02	(0.01)	(0.06)	2.01	(1.50)	3.25	(3.10)	9.62
RLITX	0.54	(0.03)	0.00	(0.91)	0.00	0.00	0.87	(1.13)	3.05

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