Templeton Global Correlations

FBNRX Fund

USD 6.80 0.03 0.44%

The current 90-days correlation between Templeton Global Bond and Versatile Bond Portfolio is 0.69 (i.e., 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

Good diversification

The correlation between Templeton Global Bond and DJI is -0.1 (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 Investing Opportunities 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 metropolitan statistical area.

Moving together with Templeton Mutual Fund

0.75	TEFRX	Templeton Foreign	Pair Corr
0.76	TEFTX	Templeton Foreign	Pair Corr
0.99	TEGBX	Templeton Global Bond	Pair Corr
0.75	TEMFX	Templeton Foreign	Pair Corr
0.8	TEMMX	Templeton Emerging	Pair Corr
0.78	TEMIX	Franklin Mutual European	Pair Corr
0.71	TEMZX	Templeton Emerging	Pair Corr
0.67	FQCHX	Franklin Templeton Smacs	Pair Corr
0.78	LGGAX	Clearbridge International	Pair Corr
0.69	TEURX	Franklin Mutual European	Pair Corr
0.87	LGIEX	Qs International Equity	Pair Corr
0.65	FQNCX	Franklin North Carolina	Pair Corr
0.62	FQMDX	Franklin Maryland Tax	Pair Corr
0.82	WAARX	Western Asset Total	Pair Corr

Moving against Templeton Mutual Fund

0.7	TEMTX	Franklin Mutual Shares	Pair Corr
0.48	TEMWX	Templeton World	Pair Corr
0.71	TESIX	Franklin Mutual Shares	Pair Corr
0.71	TESRX	Franklin Mutual Shares	Pair Corr
0.68	SAGYX	Clearbridge Aggressive	Pair Corr
0.61	SAIFX	Clearbridge Large Cap	Pair Corr
0.48	TWDAX	Templeton World	Pair Corr
0.41	TEWTX	Templeton World	Pair Corr
0.82	SBAYX	Western Asset Adjustable	Pair Corr
0.76	LGVAX	Clearbridge Value Trust	Pair Corr
0.75	SAPYX	Clearbridge Appreciation	Pair Corr
0.71	SASMX	Clearbridge Small Cap	Pair Corr
0.64	WAADX	Western Asset Smash	Pair Corr
0.36	FQTEX	Franklin Strategic Series	Pair Corr

Related Correlations Analysis

	PRVBX	PTIAX	ABNTX	KMKCX	PATFX	USCBX	BBINX	ASTIX
PRVBX		-0.01	0.43	0.27	0.4	0.17	0.21	0.45	PRVBX
PTIAX	-0.01		0.82	-0.76	0.64	0.59	0.77	-0.68	PTIAX
ABNTX	0.43	0.82		-0.6	0.75	0.57	0.76	-0.38	ABNTX
KMKCX	0.27	-0.76	-0.6		-0.28	-0.14	-0.43	0.91	KMKCX
PATFX	0.4	0.64	0.75	-0.28		0.9	0.95	-0.11	PATFX
USCBX	0.17	0.59	0.57	-0.14	0.9		0.92	-0.04	USCBX
BBINX	0.21	0.77	0.76	-0.43	0.95	0.92		-0.29	BBINX
ASTIX	0.45	-0.68	-0.38	0.91	-0.11	-0.04	-0.29		ASTIX
	PRVBX	PTIAX	ABNTX	KMKCX	PATFX	USCBX	BBINX	ASTIX

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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

BBINX	+ 0.95	PATFX
BBINX	+ 0.92	USCBX
ASTIX	+ 0.91	KMKCX
USCBX	+ 0.9	PATFX
ABNTX	+ 0.82	PTIAX
BBINX	+ 0.77	PTIAX

High negative correlations

KMKCX	- 0.76	PTIAX
ASTIX	- 0.68	PTIAX
KMKCX	- 0.6	ABNTX
BBINX	- 0.43	KMKCX
ASTIX	- 0.38	ABNTX
ASTIX	- 0.29	BBINX

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
PRVBX	0.09	0.00	(0.87)	0.49	0.00	(0.10)	0.20	(0.20)	0.53
PTIAX	0.23	(0.01)	0.00	0.20	0.00	0.00	0.46	(0.55)	1.31
ABNTX	0.14	(0.01)	(0.49)	(0.75)	0.19	(0.17)	0.29	(0.30)	0.88
KMKCX	1.40	0.62	0.35	0.65	1.16	(1.72)	3.82	(2.21)	14.12
PATFX	0.16	0.02	(0.24)	(0.08)	0.22	(0.24)	0.44	(0.35)	1.69
USCBX	0.16	0.02	(0.24)	(0.09)	0.22	(0.23)	0.39	(0.29)	1.74
BBINX	0.12	0.01	(0.41)	0.01	0.15	(0.19)	0.29	(0.29)	1.07
ASTIX	0.28	0.05	(0.14)	1.86	0.26	(0.31)	0.57	(0.64)	1.79

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