Franklin Templeton Correlations

FQEMX Fund

USD 12.29 0.19 1.57%

The current 90-days correlation between Franklin Templeton Smacs and Fidelity Real Estate is 0.12 (i.e., Average 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

Very weak diversification

The correlation between Franklin Templeton Smacs and DJI is 0.44 (i.e., Very weak 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 industry.

Moving together with Franklin Mutual Fund

0.98	TEDMX	Templeton Developing	Pair Corr
0.64	TEDIX	Franklin Mutual Global	Pair Corr
0.67	TEDSX	Franklin Mutual Global	Pair Corr
0.68	TEDRX	Franklin Mutual Global	Pair Corr
0.66	TEFRX	Templeton Foreign	Pair Corr
0.62	TEFTX	Templeton Foreign	Pair Corr
0.73	TEGRX	Templeton Growth	Pair Corr
0.65	TEMEX	Franklin Mutual Beacon	Pair Corr
0.86	TEMWX	Templeton World	Pair Corr
0.92	FQCTX	Franklin Necticut Tax	Pair Corr
0.81	FQCHX	Franklin Templeton Smacs	Pair Corr
0.86	TEPLX	Templeton Growth	Pair Corr
0.9	TWDAX	Templeton World	Pair Corr
0.73	LGGAX	Clearbridge International	Pair Corr
0.74	LGIEX	Qs International Equity	Pair Corr
0.81	FQLAX	Franklin Louisiana Tax	Pair Corr
0.76	TEWTX	Templeton World	Pair Corr
0.69	SAPYX	Clearbridge Appreciation	Pair Corr
0.82	FQNCX	Franklin North Carolina	Pair Corr
0.75	FQMDX	Franklin Maryland Tax	Pair Corr
0.73	WAADX	Western Asset Smash	Pair Corr
0.64	WAARX	Western Asset Total	Pair Corr

Moving against Franklin Mutual Fund

0.61	TEMGX	Templeton Global Smaller	Pair Corr
0.56	TEMTX	Franklin Mutual Shares	Pair Corr
0.66	TESGX	Templeton Global Smaller	Pair Corr
0.56	TESIX	Franklin Mutual Shares	Pair Corr
0.55	TESRX	Franklin Mutual Shares	Pair Corr

Related Correlations Analysis

	FIKMX	IARIX	FORFX	REINX	VRREX	MXREX	PGRUX	FSERX
FIKMX		0.69	0.5	0.69	0.71	0.74	0.75	0.74	FIKMX
IARIX	0.69		-0.12	1.0	0.67	0.61	0.95	0.99	IARIX
FORFX	0.5	-0.12		-0.12	0.15	0.32	-0.08	-0.05	FORFX
REINX	0.69	1.0	-0.12		0.67	0.61	0.95	0.99	REINX
VRREX	0.71	0.67	0.15	0.67		0.95	0.75	0.71	VRREX
MXREX	0.74	0.61	0.32	0.61	0.95		0.7	0.65	MXREX
PGRUX	0.75	0.95	-0.08	0.95	0.75	0.7		0.96	PGRUX
FSERX	0.74	0.99	-0.05	0.99	0.71	0.65	0.96		FSERX
	FIKMX	IARIX	FORFX	REINX	VRREX	MXREX	PGRUX	FSERX

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

REINX	+ 1.0	IARIX
FSERX	+ 0.99	IARIX
FSERX	+ 0.99	REINX
FSERX	+ 0.96	PGRUX
PGRUX	+ 0.95	IARIX
PGRUX	+ 0.95	REINX

High negative correlations

REINX	- 0.12	FORFX
FORFX	- 0.12	IARIX
PGRUX	- 0.08	FORFX
FSERX	- 0.05	FORFX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FIKMX	0.17	0.01	(0.15)	0.09	0.13	(0.23)	0.41	(0.41)	1.23
IARIX	0.59	(0.02)	(0.06)	0.01	0.79	(0.63)	1.34	(1.27)	3.58
FORFX	0.05	0.02	0.00	1.40	0.00	0.00	0.10	0.00	0.21
REINX	0.59	(0.02)	(0.06)	0.01	0.77	(0.64)	1.32	(1.25)	3.70
VRREX	0.60	0.01	(0.04)	0.11	0.81	(0.63)	1.34	(1.29)	3.92
MXREX	0.63	0.03	(0.02)	0.23	0.74	(0.72)	1.46	(1.39)	3.86
PGRUX	0.52	(0.01)	(0.05)	0.03	0.69	(0.55)	1.03	(1.13)	3.44
FSERX	0.58	(0.02)	(0.06)	0.02	0.75	(0.66)	1.29	(1.20)	3.78

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