Templeton Constrained Correlations

FTCAX Fund

USD 10.08 0.04 0.40%

The current 90-days correlation between Templeton Strained Bond and Doubleline Emerging Markets is 0.03 (i.e., Significant diversification). The correlation of Templeton Constrained 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 Constrained Correlation With Market

Very weak diversification

The correlation between Templeton Strained Bond and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Templeton Strained 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 Strained 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 nation.

Moving together with Templeton Mutual Fund

0.93	VGTSX	Vanguard Total Inter	Pair Corr
0.93	VTIAX	Vanguard Total Inter	Pair Corr
0.92	PMPIX	Precious Metals Ultr	Pair Corr
0.92	PMPSX	Precious Metals Ultr	Pair Corr
0.91	UGPIX	Ultrachina Profund	Pair Corr
0.83	CCLFX	Cliffwater Corporate	Pair Corr
0.9	EKWAX	Wells Fargo Advantage	Pair Corr
0.94	MXECX	Great-west Core	Pair Corr
0.83	FBOFX	American Funds	Pair Corr
0.84	BLDRX	Blackrock Managed Income	Pair Corr
0.7	GAB	Gabelli Equity Trust	Pair Corr
0.94	AWWIX	Cibc Atlas International	Pair Corr
0.9	FRINX	Fidelity Real Estate	Pair Corr
0.91	MNCPX	Unconstrained Bond Series	Pair Corr
0.91	PONCX	Pimco Income	Pair Corr
0.77	HILRX	Hartford Interna	Pair Corr
0.85	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.84	JDIAX	Janus Overseas	Pair Corr
0.92	PNGYX	Putnam Intl Val	Pair Corr
0.83	VBTIX	Vanguard Total Bond	Pair Corr
0.87	RILEX	American Funds Inflation	Pair Corr
0.86	FUEMX	Fidelity Flex Servative	Pair Corr
0.91	PIMIX	Pimco Income	Pair Corr
0.84	PGBOX	Jpmorgan E Bond	Pair Corr
0.62	RNDLX	Rivernorthdoubleline	Pair Corr
0.93	ARTGX	Artisan Global Value	Pair Corr

Moving against Templeton Mutual Fund

0.44	VTSMX	Vanguard Total Stock	Pair Corr
0.43	VTSAX	Vanguard Total Stock	Pair Corr
0.43	VITSX	Vanguard Total Stock	Pair Corr
0.43	VSTSX	Vanguard Total Stock	Pair Corr
0.43	VSMPX	Vanguard Total Stock	Pair Corr
0.4	VFIAX	Vanguard 500 Index	Pair Corr
0.4	VFINX	Vanguard 500 Index	Pair Corr
0.4	VFFSX	Vanguard 500 Index	Pair Corr
0.33	CISGX	Touchstone Sands Capital	Pair Corr

Related Correlations Analysis

	DBELX	XJMMX	CDHIX	PIEFX	EPASX	QNZIX
DBELX		0.78	0.9	0.88	0.94	0.51	DBELX
XJMMX	0.78		0.77	0.65	0.66	0.47	XJMMX
CDHIX	0.9	0.77		0.93	0.91	0.7	CDHIX
PIEFX	0.88	0.65	0.93		0.96	0.72	PIEFX
EPASX	0.94	0.66	0.91	0.96		0.59	EPASX
QNZIX	0.51	0.47	0.7	0.72	0.59		QNZIX
	DBELX	XJMMX	CDHIX	PIEFX	EPASX	QNZIX

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Risk-Adjusted Indicators

There is a big difference between Templeton Mutual Fund performing well and Templeton Constrained 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 Constrained'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
DBELX	0.32	0.06	0.67	(1.56)	0.09	(0.44)	0.82	(0.49)	1.80
XJMMX	0.19	0.01	0.59	(0.87)	0.13	(0.27)	0.46	(0.46)	0.92
CDHIX	0.72	0.04	0.18	2.45	0.98	(0.69)	1.44	(1.51)	4.90
PIEFX	1.05	0.05	0.14	0.28	1.32	(1.06)	2.06	(2.30)	6.94
EPASX	0.54	0.04	0.26	0.41	0.62	(0.61)	1.02	(1.20)	3.67
QNZIX	0.65	0.03	0.17	0.13	0.98	(0.59)	1.25	(1.38)	3.89

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