Templeton Global Correlations

TESGX Fund

USD 8.89 0.07 0.79%

The current 90-days correlation between Templeton Global Smaller and Stringer Growth Fund is 0.8 (i.e., Very poor 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

Poor diversification

The correlation between Templeton Global Smaller and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Templeton Global Smaller 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 Smaller. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Templeton Mutual Fund

0.68	FSWFX	American Funds Smallcap	Pair Corr
0.68	FSFWX	American Funds Smallcap	Pair Corr
0.71	SCWCX	American Fds Smallcap	Pair Corr
0.69	SCWFX	Smallcap World	Pair Corr
0.69	SMCWX	Smallcap World	Pair Corr
0.68	CSPFX	Smallcap World	Pair Corr
0.69	CSPAX	Smallcap World	Pair Corr
0.7	CSPEX	Smallcap World	Pair Corr
0.7	RSLCX	Smallcap World	Pair Corr
0.67	RLLGX	Smallcap World	Pair Corr
0.74	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr
0.74	BA	Boeing	Pair Corr
0.85	HD	Home Depot	Pair Corr

Moving against Templeton Mutual Fund

0.69	GPICX	Guidepath Conservative	Pair Corr
0.47	FPXIX	Fidelity Advisor 529	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.72	CSCO	Cisco Systems	Pair Corr
0.61	DD	Dupont De Nemours	Pair Corr
0.61	KO	Coca Cola Aggressive Push	Pair Corr
0.56	INTC	Intel Aggressive Push	Pair Corr
0.56	IBM	International Business	Pair Corr
0.54	AA	Alcoa Corp	Pair Corr
0.49	XOM	Exxon Mobil Corp	Pair Corr
0.47	GE	GE Aerospace	Pair Corr
0.42	MMM	3M Company	Pair Corr

Related Correlations Analysis

	SRGAX	LLLRX	GGRYX	UPDDX	LMLRX
SRGAX		0.97	0.99	0.94	0.94	SRGAX
LLLRX	0.97		0.98	0.93	0.97	LLLRX
GGRYX	0.99	0.98		0.94	0.96	GGRYX
UPDDX	0.94	0.93	0.94		0.88	UPDDX
LMLRX	0.94	0.97	0.96	0.88		LMLRX
	SRGAX	LLLRX	GGRYX	UPDDX	LMLRX

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
SRGAX	0.47	(0.01)	(0.01)	0.01	0.72	(0.43)	0.87	(1.15)	2.84
LLLRX	0.51	0.01	0.01	0.03	0.83	(0.46)	1.02	(1.23)	3.28
GGRYX	0.41	0.00	(0.01)	0.02	0.59	(0.41)	0.83	(0.95)	2.56
UPDDX	1.36	0.01	0.01	0.02	2.14	(1.23)	2.41	(3.50)	8.73
LMLRX	0.24	0.02	0.01	0.07	0.27	(0.26)	0.51	(0.50)	1.39

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