Franklin Templeton Correlations

Mutual Funds . USA . 
Fund . Franklin Templeton Smacs
FQTHX Fund  USD 9.31  0.01  0.11%   
The current 90-days correlation between Franklin Templeton Smacs and Franklin Mutual Beacon is -0.11 (i.e., Good diversification). The correlation of Franklin Templeton 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.

Franklin Templeton Correlation With Market

Good diversification

The correlation between Franklin Templeton Smacs and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Templeton Smacs 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 Franklin Templeton Smacs. 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 rate.

Moving together with Franklin Mutual Fund

  0.62TEMGX Templeton Global SmallerPairCorr
  0.64TEMQX Mutual QuestPairCorr
  0.9FQCTX Franklin Necticut TaxPairCorr
  0.83FQCHX Franklin Templeton SmacsPairCorr
  0.63TEQIX Franklin Mutual QuestPairCorr
  0.61TESGX Templeton Global SmallerPairCorr
  0.87FQLAX Franklin Louisiana TaxPairCorr
  0.91FQNCX Franklin North CarolinaPairCorr
  0.89FQMDX Franklin Maryland TaxPairCorr
  0.74WAARX Western Asset TotalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Templeton 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 Franklin Templeton'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TEBIX  0.54 (0.15) 0.00 (0.25) 0.00 
 0.00 
 0.83 
(1.05)
 6.52 
TEDMX  0.78 (0.05) 0.00 (0.21) 0.00 
 0.00 
 1.50 
(1.68)
 6.20 
TEDIX  0.62 (0.22) 0.00 (0.60) 0.00 
 0.00 
 0.85 
(1.05)
 10.42 
TEDSX  0.62 (0.21) 0.00 (14.75) 0.00 
 0.00 
 0.82 
(1.35)
 9.48 
TEDRX  0.62 (0.22) 0.00 (0.60) 0.00 
 0.00 
 0.84 
(1.08)
 10.33 
TEFRX  0.77 (0.17) 0.00 (0.54) 0.00 
 0.00 
 1.27 
(2.02)
 5.69 
TEFTX  0.77 (0.15) 0.00 (11.80) 0.00 
 0.00 
 1.37 
(1.97)
 5.54 
TEGBX  0.43 (0.20) 0.00 (2.33) 0.00 
 0.00 
 0.67 
(1.01)
 3.22 
TEGRX  0.57 (0.10) 0.00 (0.11) 0.00 
 0.00 
 0.99 
(0.94)
 4.35 
TEMFX  0.77 (0.18) 0.00 (0.56) 0.00 
 0.00 
 1.36 
(2.06)
 5.66 

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